Accessibility links

Breaking News

South Africa May Business Confidence Slips

FILE: Shoppers are at the opening of a Game discount store at a shopping mall in Umhlanga, KwaZulu-Natal, Durban, South Africa on Nov. 24, 2017. FRANK CHEMALY/ The Independent on Saturday/via REUTERS .

JOHANNESBURG — South African business confidence fell slightly in May, with lower trade volumes, fewer tourists and a weaker rand exchange rate weighing on sentiment, data showed on Wednesday.

The South African Chamber of Commerce and Industry (SACCI) business confidence index dropped to 106.9 in May from 107.1 in April.

SACCI said in a statement that it was essential to put South Africa back on a trajectory towards attracting foreign investment.

"A large part of the loss of business confidence could be regained by following the best global economic and business interests of South Africa," it added.