Business confidence in the Western Cape exceeds South Africa's business confidence levels and is better than any other province.
This is according to the latest RNB/BER Business Confidence Index (BCI), which reported a three-point increase in confidence in the state from Q4 2023 to Q1 2024.
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This is an improvement from 37 points to 40 out of 100.
Mireille Wenger, Minister of Finance and Economic Opportunities, said this was the third consecutive rise in business confidence in the province and the longest sustained rise in business confidence in the Western Cape since the second quarter of 2018. Ta.
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“When you combine the BCI with the fact that four out of five (78.9%) of the net jobs created over a five-year period occurred in this state, our economic action plan, Growth for Jobs, Private sector-led growth aims to achieve R1 trillion by 2035, with growth rates of 4% to 6%, a job-rich, diverse, resilient and prosperous economy. The impact is significant. ”
“It is also noteworthy that business confidence in the Western Cape is much higher than its peers in Gauteng and KwaZulu-Natal at 23 points and 18 points in the same period,” she added.
“Don’t get me wrong, we still have a lot of work to do. But this is a testament to the policies the Western Cape government has taken to enable the private sector to do what it does best: grow and create jobs.” , plans and actions are having a positive impact on businesses in the state.”
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photograph: @Talyn Elliot / Pexels
