The South African Chamber of Commerce and Industry (SACCI) Business Confidence Index rose to 125.4 in July 2026, its highest level since March, up from 123.5 in June. The improvement was driven by increased new vehicle sales, stronger merchandise export volumes, and lower energy prices. However, higher inflation and weaker precious metal prices acted as a drag on overall sentiment. SACCI also noted that the number of foreign travellers to South Africa remained a supportive factor, despite short-term instability related to the conflict in the Middle East.