South Africa Business Confidence Up to 4-Month High: SACCI

The South African Chamber of Commerce and Industry (SACCI) business confidence index climbed to 132.3 in November 2025, the highest since July 2011, from 13.8 in the prior month. The main driver was a sharp increase in overseas tourist numbers. Nevertheless, the chamber cautioned that the November data should be interpreted carefully, noting that some key physical economic activities remain lagging, reflecting a slow-growing economy in need of stronger investor confidence and fixed investment. “The current BCI level may, however, inspire structural economic policy adjustments that could attract local and foreign capital to support higher economic growth, employment and inclusion to share in value added and wealth creation,” Sacci concluded.

The South African Chamber of Commerce and Industry (SACCI) business confidence index rose to 121.1 in September 2025, the highest reading in six months, up from 120 in August. The increase was supported by an influx of overseas tourists, rising global gold and platinum prices, higher merchandise export volumes, increased new vehicle sales, and JSE share prices surpassing their medium-term trend. "In the short term, the financial climate supported business sentiment, while real economic activity was stable with some negatives. Over the year, both economic activity and the financial environment were stronger than a year ago.", SACCI said. Meanwhile, the chamber noted that economic activity was under pressure from tariff uncertainty, with AGOA and US trade agreement deadlines expiring amid limited progress on permanent arrangements.

The South African Chamber of Commerce and Industry (SACCI) business confidence index rose to 116.7 in July 2025, the highest in four months, from 113.2 in June. The improvement mainly reflected stronger new vehicle sales, higher manufacturing output, firm precious metal prices, and contained inflation. Meanwhile, SACCI warned that the 30% tariff on South African exports to the US could deal a severe blow to the domestic economy. The chamber stressed the importance of maintaining positive trade relations with the US, especially in light of subdued growth forecasts for this year and next.