The latest RMB/BER Business Confidence Index shows warning signs for business in South Africa.
Load shedding and failing rail, road, and port infrastructure has hit South Africa’s business confidence hard, with optimism nosediving in the manufacturing and consumer-facing retail sectors.
“Pervasive power outages coupled with deteriorating household income knocked manufacturing and retailer confidence hard. By contrast, sentiment among wholesalers and new vehicle dealers improved slightly,” said the BER. However, the bureau noted that a thin silver lining attached to load-shedding must not distract from the devastating blow load-shedding specifically and failing rail, road, and port infrastructure, more generally, are inflicting on the economy.
The overall sentiments for South Africa’s business sectors, as outlined by the BER, are listed below.Confidence crashed by nine points to 17 in the first quarter. A level this low is rare, and it speaks to a sector that is bearing the brunt of the combined impact of intense load shedding and dilapidated logistic infrastructure, said the BER.
This comes at a time when high consumer price inflation and slowing growth in compensation continue to place pressure on household disposable income, said the BER.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
South Africa: Breaking Down the BRIC Wall Between South Africa-U.S. RelationsAnalysis - Pretoria's global credibility hinges on a precarious balancing act between competing views on the international order.
Read more »
Business Maverick: South Africa Rand’s Volatility Rises Amid Ramaphosa Farm Robbery ScandalThe rand’s volatility is soaring as a scandal involving South African President Cyril Ramaphosa and the sale of buffalo once again shakes investor confidence.
Read more »
South Africa: Multiple Award-Winning Group Boyz ll Men Confirm South African Tour DatesPress Release - Leading event organiser G21 Entertainment together with Vertex Events today announced South African show dates for the legendary super group Boyz II Men happening later this year.
Read more »
The Delicate Balance of South Africa, U.S. RelationsThe official diplomatic line on South Africa-United States relations often points to 'cordial' ties - a position supported by the balance of trade between the two countries. But despite the efforts of senior officials from South Africa's Department of International Relations and Cooperation to compartmentalise relations into thematic areas, the political partnership has become difficult to manage, writes Priyal Singh for the Institute for Security Studies. Relations between the two countries have not been made any easier with South Africa's stance on Russia's invasion of the Ukraine - with South Africa accusing the U.S. of using "bullying" tactics in Africa.
Read more »
WATCH: Fintech to drive MTN growth in RwandaBusiness Day TV spoke to Business Day’s business writer, Mudiwa Gavaza
Read more »
Africa: The transformation of Africa starts with our girlsOpinion - "When you educate a girl, you educate a nation." This African proverb resonates with the values passed on to me by my parents and guides my determination to drive change in the region through the education and empowerment of girls and women.
Read more »