File photo: Leon Nicholas

Johannesburg - South Africa's RMB/BER business confidence index fell two index to 41 in the first quarter of the year, indicating the majority of companies were unhappy with business conditions in Africa's largest economy.

The Rand Merchant Bank (RMB) survey was conducted by the Bureau for Economic Research (BER) before last week's power outages, which may have had a further negative impact on the outlook of firms.