S.Africa's business confidence takes a positive turn


South Africa’s business confidence index edged higher to 92.8 in February from 89.3 in the previous month, although the outlook for the rest of the year still remains uncertain, a survey showed on Tuesday.

Finance Minister Nhlanhla Nene’s budget last week had not done much to quell business concerns about the economic direction of Africa’s most advanced economy, the South African Chamber of Commerce and Industry (SACCI) said.

“Business will remain sceptical while awaiting some convincing policy direction,” SACCI said in a statement. “It must give credence to the role and contribution of the private sector facing the challenges of South Africa.”