S.Africa's business confidence recovers slightly in June
Tag: Africa business, Africa business confidence
Summary: Proposed laws that look set to maintain South Africa's relatively rigid labour market were particularly worrying, SACCI chief executive Neren Rau told a news conference.
South Africa's business confidence improved marginally in June from a 10-year low the previous month, although big clouds remain on the economic horizon, the South African Chamber of Commerce and Industry (SACCI) said on Wednesday.
The confidence index rose 2.1 points to 94.9 in June, although SACCI said the recovery was overshadowed by the uncertain global environment and South Africa would do well to sort out policy uncertainties that are weighing on business.
Proposed laws that look set to maintain South Africa's relatively rigid labour market were particularly worrying, SACCI chief executive Neren Rau told a news conference.
"The labour bills which are before parliament are of deep concern in the environment and we're also concerned about the inflexibility of our labour market in comparison with our emerging market peers," Rau said.
"The world is growing less tolerant of too many mixed messages. Spectators and investors want clear messages to be sent out, and South Africa is not doing too well on that front."