The axing of Pravin Gordhan as finance minister has tempered business confidence after a three-month improvement and economists expect it to continue to decline. “Its not surprising considering the circumstances,” Business Unity SA CEO Tanya Cohen said on Wednesday. “In general terms, we are certainly very concerned from an economic perspective. We already have low growth. The current political instability and uncertainty won’t help. “Low growth in itself is a reflection of low business confidence. It may well have a negative impact on growth and employment because it becomes harder to make commitments in this climate.” Cohen was commenting soon after the release of the South African Chamber of Commerce and Industry (Sacci) business confidence index (BCI), which fell 1.7 index points to 93.8 in March from 95.5 in February. This is the first month since November 2016 that the BCI has declined year on year. Sacci said on Wednesday that the reshuffle at the end of March upset the momen...
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