SA hogs bottom in Africa league

17 September 2015 - 02:13 By ©BDlive 2015

South Africa's economy, business and retail confidence levels rank poorly when compared with eight other sub-Saharan African countries, a prospects indicator report by global research company Nielsen showed yesterday. South Africa ranked eighth out of the nine countries on the economy, eighth on business confidence, and eighth on retail confidence. It scored slightly better, sixth, on consumer confidence.The country ranked last on the overall rankings that combined the four indicators.South Africa's outlook remained lacklustre, Nielsen's content and marketing executive director for Africa, Ailsa Wingfield, said."Creeping interest rates, the short-lived fuel price relief and increasing utility prices place an ever-increasing burden on growth, in addition to the country's electricity constraints."On the overall ranking South Africa was outdone by Nigeria, Côte d'Ivoire and Kenya, which came in at first, second, and third respectively.Although South Africa was ranked so poorly, it should not be "overlooked", particularly with a population that had "various coping strategies" for overcoming tough times, Wingfield said.Nielsen's survey included 26 sub-Saharan African countries, although only nine countries were ranked due to the up-to-date nature of their economic indicators.The nine countries were Nigeria, Côte d'Ivoire, Kenya, Tanzania, Zambia, Cameroon, Uganda, Ghana and South Africa, which together. account for 71% of the sub-Saharan gross domestic product...

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