JOHANNESBURG, July 11 (Reuters) – 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.”
(Reporting by Stella Mapenzauswa and Xola Potelwa)
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