Tito Mboweni’s appointment could drive business confidence up further
Sacci says greater certainty will emerge after the medium-term budget policy statement and the investment summit
Business confidence has rebounded from its lowest level in more than a year and could surge after newly appointed finance minister Tito Mboweni delivers the medium-term budget policy statement at the end of October. Alongside the investment summit in the same week, the medium-term budget is expected to provide greater certainty, according to the South African Chamber of Commerce and Industry (Sacci). The business confidence index, which assesses the business climate, rose by 2.8 points to 93.3 in September 2018, from 90.5 in August. This was from a base level of 100. Every five years, the index is set to 100 and it increases or decreases from that point. The index was last reset in 2015. The index was compiled at the end of September and does not reflect the events of the past few days. Former finance minister Nhlanhla Nene resigned on Tuesday, following public pressure over his testimony at the state-capture inquiry, where he admitted to meeting the Gupta family on numerous occasio...
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