South Africa Business Confidence Ticks Higher: SACCI

The South African Chamber of Commerce and Industry (SACCI) business confidence index rose to 115.8 in May 2025 from a six-month low of 114.9 in the prior month.

The slight improvement was supported by a firmer rand, stronger equity markets, and rising gold and platinum prices.

The prior month’s decline was likely driven by fears over US trade policy, including former President Trump’s threat to impose 30% tariffs.

As the US is South Africa’s second-largest trading partner after China, such measures pose a significant risk.

In response, the South African government has made several trade proposals following last month’s meeting between President Ramaphosa and President Donald Trump.

The country is now preparing a revised offer to purchase American LNG after its initial proposal was rejected and is also considering adopting US technology to expand domestic gas production.