Business confidence has moderated slightly from January’s high levels, the South African Chamber of Commerce and Industry (Sacci) says, though it has maintained its positive momentum. Sacci’s business confidence index (BCI) pulled back slightly — by 0.8 index points — in February, to 98.9. That follows a greatly improved business mood in January, when business confidence hit its highest level in two years, rising to 99.7 from 96.4 in December. The BCI increased by 3.4 index points in February compared with February 2017. Sacci said in its release on Wednesday: “Although the present business confidence contains substantial positive sentiment, investment decisions will soon have to become reality to create sustainable higher economic growth and employment prospects.” Sacci said that during the World Economic Forum (WEF) meeting in Davos in January, then-deputy president Cyril Ramaphosa had promoted SA as an investment destination, assuring investors of a secure and stable investment e...
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