Business confidence falls to five-month low in February

South Africa’s business confidence deteriorated in February, falling to 93.4 from 95.1 in January, the South African Chamber of Commerce and Industry (Sacci) said on Wednesday — the index’s lowest level since September.

Confidence in Africa’s most industrialised economy has been strangled by policy and political uncertainty, with investors sceptical about President Cyril Ramaphosa’s ability to deliver reform ahead of national elections in May and the resumption of nation-wide electricity blackouts.