Sacci BCI rises in October
South Africa's business confidence rose for a second consecutive month in October, bolstered by higher import volumes, vehicle sales and retail sales, a survey showed on Wednesday.
The South African Chamber of Commerce and Industry's (Sacci) monthly business confidence index rose to 95.8 in October from 93.3 in September, the business body said in a statement.
Six of the 13 sub-indices surveyed improved month-on-month, while six were unchanged and one deteriorated, Sacci said.
Sacci said the appointment of former central banker Tito Mboweni as Finance Minister was one of the significant events that impacted the domestic business climate.
President Cyril Ramaphosa on October 9 appointed Mboweni, the country's fourth Finance Minister in two years, replacing Nhlanhla Nene who admitted to having meetings with the Gupta brothers, friends of former President Jacob Zuma who are at the centre of corruption allegations.
Zuma and the Guptas have denied any wrongdoing.
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