South Africa Business Confidence Rises to 3-Year High on Ramaphosa
- The 11-point jump is biggest since first quarter of 2012
- ‘Turn for the better in domestic politics’ is ‘common cause’
The Central Business District in Johannesburg.
Photographer: Waldo Swiegers/BloombergThis article is for subscribers only.
South African business confidence climbed to the highest since the start of 2015 in the first quarter as the appointment of Cyril Ramaphosa as the nation’s president boosts prospects for industry-friendly policies.
The RMB/BER business confidence index rose 11 points, the most since the first quarter of 2012, to 45, FirstRand Ltd.’s Rand Merchant Bank unit and the Stellenbosch, South Africa-based Bureau for Economic Research said in an emailed statement Wednesday.