Customers browse food products on display inside a Shoprite Holdings Ltd. supermarket in Alexandra district of Johannesburg, South Africa, on Monday, Aug. 17, 2015. Shoprite, which operates in 14 African countries outside of its home market, said Feb. 24 that 14 store openings were planned on the continent beyond South Africa in its second half through June. Photographer: Waldo Swiegers/Bloomberg via Getty Images

JOHANNESBURG, Feb 9 (Reuters) – South African business confidence rose in January on increased trade and retail sales, data showed on Wednesday.

The South African Chamber of Commerce and Industry’s (SACCI) monthly business confidence index (BCI) increased to 94.1 in January from 92.0 in December.

“This is a reasonable start to 2022,” SACCI said in a statement, adding that a recovery in vehicle sales and higher share prices on the Johannesburg Stock Exchange had also supported confidence over the past year.

Factors weighing on confidence in January included rising inflation and higher debt-service costs linked to rising interest rates, SACCI said.

This is a developing story…

(Reporting by Alexander Winning Editing by Olivia Kumwenda-Mtambo)

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