FX.co ★ South Africa Business Confidence Hits 6-Month High: SACCI

In September 2025, the South African Chamber of Commerce and Industry (SACCI) reported a significant rise in its business confidence index, which reached 121.1—the highest level recorded in half a year—up from 120 in August. This improvement was driven by a surge in international tourism, an increase in global gold and platinum prices, greater volumes of merchandise exports, a rise in new vehicle sales, and the Johannesburg Stock Exchange (JSE) share prices exceeding their medium-term trend. SACCI noted that the financial climate in the short term favored business sentiment, although real economic activity remained steady with some adverse factors. Over the past year, both economic activity and the financial environment have shown gains compared to the previous year. However, the chamber also highlighted that economic activity is facing challenges due to tariff uncertainty, as deadlines for the African Growth and Opportunity Act (AGOA) and a trade agreement with the United States are set to expire, with minimal progress towards establishing permanent arrangements.