Business confidence rises in April - survey

The Chamber of Commerce and Industry’s latest survey shows that the monthly business confidence index increased to 94.9 in April.

Picture: Supplied.

JOHANNESBURG - It’s emerged that business confidence rose in April, as lower inflation a month earlier offset a Cabinet reshuffle that rattled the rand currency.

The Chamber of Commerce and Industry’s latest survey shows the monthly business confidence index increased to 94.9 in April - that's up from 93.8 in March.

President Jacob Zuma fired seven ministers and deputies during his Cabinet reshuffle.

Former finance minister Pravin Gordhan was among those fired.

The reshuffle led to Fitch Ratings and S&P downgrading South Africa’s sovereign credit rating to so-called junk status.