Business confidence has dropped to a new low over the past month, and large corporations are painting it as the worst state of the last 20 years.
According to a poll, more and more businesses are getting pessimistic about the prospects, and an increase in business people who don’t see results is becoming an alarming phenomenon.
The University of Stellenbosch’s Bureau for Economic Research’s business confidence index dropped to a low of 21 points.
Before the start of the third quarter, the index still stood at 28, and the drastic decline has now worried business people as it is the lowest level since 1998.
What causes more concern is the hopelessness of the situation due to the ANC government’s inability to intervene and provide strong leadership.