Business confidence remains weak and under pressure. It is therefore gratifying that the SA Chamber of Commerce and Industry (Sacci) is finally putting its finger on the problem by referring to the ongoing policy of political appointments with municipalities and state-controlled entities (SOE).
Sacci appealed to the ANC government to ensure that state-controlled entities should be run by independent and competent management members.
During July 2019, business confidence once again dropped to 92 points, which means the index has fallen for six consecutive months.
Sacci’s management states that “the way in which BEEs and municipalities guide, manage and how they function is the main cause of their problems.