JOHANNESBURG, Dec 11 – South Africa’s business confidence climbed sharply in November, supported by a strong rebound in overseas tourist arrivals, according to new data from the South African Chamber of Commerce and Industry (SACCI).
The Business Confidence Index rose to 132.3, up from 123.8 in October, marking one of the biggest gains this year.
SACCI said the jump was primarily fuelled by tourism-related activity and improved global financial market sentiment. However, the organisation cautioned that many of the underlying indicators tied to real domestic economic activity such as manufacturing output and goods-producing sectors continue to lag.
The chamber warned that for business confidence to stabilize and remain sustainable, South Africa will need to see stronger alignment between financial indicators and real economy performance. “It is essential that real economic activity matches financial expediency for business confidence to steady up,” SACCI said.
The broader economic backdrop remains mixed. South Africa’s quarterly GDP growth slowed to 0.5% in Q3, down from 0.9% in Q2, reflecting persistent constraints in logistics, manufacturing, and energy-intensive industries.
For 2025, the National Treasury maintains a modest growth projection of 1.2%, as structural reforms in energy, transport and logistics continue at a gradual pace.
