JOHANNESBURG - Business confidence in South Africa improved slightly in April, although national elections due on Wednesday have created an unpredictable economic environment for the next month or two, a survey published on Tuesday showed.
The South African Chamber of Commerce and Industry's (SACCI) business confidence index for April 2019 improved by 1.9 index points to 93.7 compared to March.
The survey was published on the eve of national elections in which the ruling African National Congress is expected to hold on to power, although its majority could be reduced as the country grapples with anaemic economic growth over the last decade.
"The upcoming elections create an unpredictable economic environment for the next month or two," SACCI said.
"The likely outcome of the elections is not difficult to speculate on to the extent that policy certainty is not in doubt. Effective implementation of these policies is more in doubt as it depends on the extent of President Cyril Ramaphosa’s victory within the ANC than the ANC’s own victory."