SACOB PRESS RELEASES ARCHIVE 2007
2007 Press Releases
- BCI December 2007- Pressure on Business Confidence
9 January 2008
SACCI (formerly SACOB) today released its Business Confidence Index (BCI) for December 2007. The BCI for December 2007 came in at 94,8 after the BCI declined to 95,8 in November 2007. The December 2007 BCI is the lowest level for the BCI since November 2003 and yet another new low for 2007.
- Trade Survey November - Trade Expectations Dive
13 December 2007
SACCI today released the results of the SACCI Trade Conditions Survey for November 2007. The Trade Expectations Index (TEI) dipped to its lowest level since August 2003. It decreased further to 55 in November 2007 after dipping to 58 in October 2007 – well below the narrow band for the TEI of between 66 and 69 since February 2007.
- BCI November - Business Confidence Dips Further
5 December 2007
SACCI today released its Business Confidence Index (BCI) for November 2007. The BCI, after dipping to 96,9 in October 2007, dropped further to 95,8 in November 2007. The November 2007 BCI is the lowest level of the BCI since February 2004 and yet another new low for 2007.
- Trade Survey October - Tight Trade Conditions
14 November 2007
SACCI (formerly SACOB) today released the results of the SACCI Trade Conditions Survey for October 2007. The Trade Activity Index (TAI), which measures current trade conditions, improved from 50 in August 2007 to 53 in October 2007 – no survey was conducted in September 2007.
- BCI October - Business Confidence Dips Deeper
7 November 2007
SACCI today released its Business Confidence Index (BCI) for October 2007. The BCI, after bouncing back to 98,7 in September 2007, dropped to 96,9 in October 2007 which is the lowest level for the BCI since June 2004 and a new low for 2007.
- Budget Speech 2007 - Trevor Manuel
1 November 2007
In tabling the 2007 Medium Term Budget Policy Statement, we can affirm that economic growth and investment in public services are steadily bringing a better life to millions of South Africans. We can look back with pride on the course we chose in implementing our Reconstruction and Development Programme, because we can see the fruits of the new Constitutional order we built, of the transformation of policy and service delivery we undertook, of the tough decisions we made and the dedicated efforts of South Africans from all walks of life who have contributed to our social progress and economic renewal.
- BCI September 2007 - Confidence Bounces Back
4 October 2007
SACOB today released its Business Confidence Index (BCI) for September 2007. The SACOB’s Business Confidence Index (BCI) recovered somewhat to 98,7 in September 2007 from the August 2007 level of 98,1 – the lowest level so far this year. The average for the BCI in the first nine months of 2007 was on average half an index point per month lower than in 2006.
- Trade Survey August 2007 - Trade Conditions Slow Further
13 September 2007
Absa and SACOB today released the results of the Absa/SACOB Trade Conditions Survey for August 2007. The Trade Activity Index (TAI), which measures current trade conditions, decreased to 50 from 52 in July 2007, which is well below the high levels of 58 in February and March 2007.
- BCI August 2007 - Global Adjustments Affect Confidence
5 September 2007
SACOB today released its Business Confidence Index (BCI) for August 2007. The downward trend in SACOB’s Business Confidence Index (BCI), which started in January 2007, was further confirmed by the August 2007 level of 98,1 – the lowest level so far this year.
- Trade Conditions Hesitate
15 August 2007
Absa and SACOB today released the results of the Absa/SACOB Trade Conditions Survey for July 2007. The Trade Activity Index (TAI), which measures current trade conditions, increased slightly to 52 from 51 in June 2007, which is well below the high levels of 58 in February and March 2007.
- Inevitable Pause in Confidence
8 August 2007
SACOB today released its Business Confidence Index (BCI) for July 2007. The BCI took a breather and increased slightly to 99,6 after decreasing to 99,1 in June from 100,2 in May 2007. There is no economic evidence to suggest that the small recovery of 0,5 in the BCI in July 2007 is an indication of a turning business mood.
- SACOB Appoints Dr Kwandiwe Kondlo as General Manager
30 July 2007
The President of SACOB, Mrs Deidré Penfold, today announced the appointment of Dr Kwandiwe Kondlo as the General Manager of SACOB. Dr Kondlo’s career has included many years as an academic, both locally and abroad, as well as holding a number of advisory and research positions in South Africa, with the most recent being an Advisor on Policy and Legislation to the Ministry of Land Affairs and Agriculture.
- Trade Conditions Moderate Further
13 July 2007
Absa and SACOB today released the results of the Absa/SACOB Trade Conditions Survey for June 2007. The Trade Activity Index (TAI), which measures current trade conditions, dipped from 54 in May 2007 to 51 index points in June 2007 – well below the 58 of March and February 2007. Apart from supplier deliveries that showed a marginal improvement, nearly all the sub-indices on physical trade activity dipped below their levels of May 2007, while backlogs on orders remained unchanged.
- BCI June 2007 - Weakening Business Confidence
5 July 2007
SACOB’s Business Confidence Index (BCI) for June 2007 released today, decreased further to 99.1 after registering 101.9 in April 2007 and 100.2 in May 2007. The BCI appears to be continuing the downward trend since January 2007 despite a slight pick up in April 2007. Business confidence seems to be going through a mild downward adjustment after the buoyant but relatively stable business mood experienced in 2005 and 2006.
- Durban Chamber re-affiliates to SACOB
27 June 2007
Commenting on the decision of the Durban Chamber of Commerce and Industry to re-affiliate to SACOB, the President of SACOB, Deidré Penfold said: "SACOB welcomes the decision and sees it as an important move towards strengthening the Chamber movement. It will enable SACOB to further the overall interests of business at international, national and provincial levels. "
- Trade Survey May 2007 - Rate Hike Concerns Likely To Impact On Trade Conditions
13 June 2007
Absa and SACOB today released the results of the Absa/SACOB Trade Conditions Survey for May 2007. The Trade Activity Index (TAI), that measures current trade conditions, improved from 50 in April 2007 to 54 index points in May 2007, but was still below the 58 of March and February. Nearly all the sub-indices of the trade conditions survey improved during May 2007, except for the price and employment indicators, which remained unchanged from their April 2007 levels.
- Strike Call Extension
8 June 2007
Responding to the call by COSATU for workers in the private sector to strike in support of the Public sector strike, the President of SACOB, Deidré Penfold said: "The call by COSATU for the current strike to be extended into the private sector is irresponsible and does little to help resolve the dispute between workers in the public sector and government. It certainly ratchets up the dispute by bringing the entire economy to a standstill."
- BCI May 2007 - Business Confidence Pulls Back
6 June 2007
SACOB’s Business Confidence Index (BCI) for May 2007 was released today. It pulled back by 1.7 index points from 101.9 in April 2007 to 100.2. Over the short to medium-term the BCI will probably continue on the downward trend that started in January 2007 as domestic economic developments imply that the moderation of business confidence will continue.
- Public Service Strike Action
31 May 2007
In a statement issued today appealing to the parties concerned to make every effort to avert the Public Service strike that is planned for Friday 1st June, a spokeperson for SACOB said: "While SACOB respects the constitutional right of workers to strike, it fears that the intention to bring the country to a virtual standstill through action of this nature has the potential to create unparalleled disruption and harm both to the South African public at large and to the image portrayed to outsiders."
- Public Service Strike Action
18 May 2007
While SACOB respects the constitutional right of workers to strike, the proposed industrial action by Public Service workers will have serious economic consequences. Particular concern relates to the extent to which essential services are to be affected.
- Trade Survey April 2007 - South African Trade Conditions Deteriorate
11 May 2007
The conditions of trade within the South African business environment deteriorated in April 2007. The April 2007 Trade Activity Index (TAI) declined by eight points to 50 from 58 in March 2007 - according to the latest Absa/South African Chamber of Business (Sacob) Trade Conditions Survey.
- BCI April 2007 - A Push in Business Confidence
8 May 2007
SACOB today released its Business Confidence Index (BCI) for April 2007 that measured 101.9 – up by 2.4 points from March 2007, but 1.2 points lower than in April 2006. Although April 2007 may be the start of another wave to higher levels of the BCI, domestic economic developments indicate that the moderation of business confidence may continue throughout 2007.
- Power Outages
2 May 2007
Commenting on the power failures that have affected business activity in Ekurhuleni over the last three days, the President of SACOB Deidre Penfold said: "Power failures (‘outages’) of the type experienced over the last three days in Ekurhuleni have had an extremely serious effect on all categories of business activity. Not only is economic activity adversely affected but such failures create a very negative perception for both domestic and foreign investors. It is impossible for businesses to operate in an environment of energy uncertainty."
- Trade Survey March 2007 - SA Trade Conditions Still Strong
18 April 2007
The conditions of trade within the South African business environment were still in a stable and strong territory in March 2007 and remained unchanged compared to the previous months, according to the latest ABSA/SACOB Trade Conditions Survey. The March 2007 Trade Activity Index (TAI) remains unchanged at 58 index points.
- BCI March 2007 - Ambivalent Business Mood
5 April 2007
SACOB today released its Business Confidence Index (BCI) for March 2007. The BCI measured 99.5 and, as such, continued the downward movement that started in January 2007. The BCI average of 100.5 for the first quarter of 2007 was lower than the 102.1 of the fourth quarter of 2006, as well as the 101.4 of the first quarter of 2006.
- Trade Conditions Survey Feb 2007 - South African Trade Conditions Make a Rebound
15 March 2007
The conditions of trade in South Africa have made a rebound and its leading indicator - the Trade Activity Index (TAI) has increased by six index points from the previous month, according to the latest Absa/South African Chamber of Business (Sacob) Trade Conditions Survey.
- 2010 Projects and foreign Companies
8 March 2007
Commenting on a Treasury announcement that foreign companies would be invited to bid for 2010 World Cup projects, the President of SACOB, Deidré Penfold, said: "Whilst it is recognized that the time lines for completion of the 2010 projects will be tight and that various other constraints on resources will be challenging, business trusts that possible contracts awarded to foreign participants will remain within the parameters and specifications demanded from domestic participants."
- Gas Supply Shortages
7 March 2007
In a press statement today the President of SACOB, Deidré Penfold, said: "Businesses in the Western Cape have been notified that Liquid Petroleum Gas (LPG) supplies sourced from the Chevron refinery in the Western Cape will be curtailed as from mid March due to planned maintenance scheduled to take place over March and April 2007."
- BCI February 2007 - Business Confidence Tilts
6 March 2007
SACOB today released its Business Confidence Index (BCI) for February 2007 which registered 100.5 after January’s 101.5 and the record level of 103.5 in December 2006. Six of the thirteen sub-indices had a negative effect on the BCI during February 2007 and seven had a positive influence.
- SACOB response to Budget Speech
21 February 2007
In response to the Budget speech today, the President of SACOB, Deidré Penfold said "SACOB believes that the Minister‘s Budget sends a positive message to all South Africans. The spending priorities devoted to education, health and law enforcement are welcome, although the benefits arising from such expenditure may well be long term in nature. To that end the intention to modernize the public service and thereby equip it to deliver is paramount. Hopefully, such modernization will be accompanied by the removal of the red tape ‘hobbles’ on business."
- Gauteng Plan of Action 2007
19 February 2007
Commenting on the Gauteng Premier’s Plan of Action for 2007, the President of SACOB, Deidré Penfold, said: "The Premier’s plan outlines the formidable challenges faced by the Province in terms of population growth and the associated social problems that accompany such growth. In confronting those problems the plan gives emphasis to social investment in areas such as health, skills development, education and housing."
- Trade Conditions Soften Further
14 February 2007
The results of the January 2007 Absa/Sacob Trade Conditions Survey were released today. The two composite indices from the survey, i.e. the Trade Activity Index (TAI) and the Trade Expectations Index (TEI) reflect on overall trade conditions as experienced by business. The trade conditions within the South African business environment have experienced a further moderate decline in January 2007 as the TAI registered 52 compared to 53 in December 2006. The January 2007 TAI is nevertheless higher than the January figure of the past four years and thus still reflecting relatively favourable trade conditions.
- Retirement Fund Reform - Compulsory Contribution
7 February 2007
It is important to bring much needed certainty to the area of holistic retirement provision. Progress has been slow to date largely due to the challenges of the South African social security environment as highlighted by the Taylor Committee in 2002. SACOB has been part of the NEDLAC Task Team on Social Security in the Social Development Chamber of NEDLAC during 2002 and 2003.
- BCI January 2007 - Dip in Business Confidence
6 February 2007
SACOB’s Business Confidence Index (BCI) for January 2007 released today registered 101.5 after reaching a record level of 103.5 in December 2006. Contrary to 2005 and 2006 when the January readings of the BCI were markedly up on the preceding December levels, the January 2007 level was 2 points lower than in December 2006.
- Business and the Combating of Crime
5 February 2007
In response to the divergence of views over a proposed anti crime campaign the President of SACOB, Deidré Penfold, said: "The level of crime in South Africa constitutes a real social issue on which the constituents of SACOB have expressed, and continue to express, their utmost concern. The rule of law and its maintenance is a fundamental requirement for the well-being of all constituents of our society. It also has an impact on the attractiveness of South Africa as a potential investment destination and the resulting benefits that emerge from such investment."
- Load shedding – meeting with Eskom
25 January 2007
SACOB met with the CEO of Eskom on Wednesday afternoon to discuss problems surrounding the recent power outages. Issues discussed included timeous communications that would allow business to be in some state of readiness, and possible redress for losses incurred.
- Trade Conditions Survey - Dec 2006
19 January 2007
South African trade conditions take seasonal knock despite festive retail boom
The conditions of trade within the South African business environment have experienced a decline in December 2006, despite an increase in retail sales, according to the latest Absa/South African Chamber of Business (SACOB) Trade Conditions Survey.
- Power Outages
18 January 2007
Commenting on today’s power cuts experienced in several provinces, the President of SACOB Deidré Penfold said: "Power outages have a serious disruptive effect on all business activity. Such disruption clearly has adverse consequences for domestic business confidence. Just as damaging is the adverse image portrayed to foreign investors."
- Business Confidence Index - Dec 2006
11 January 2007
SACOB today released its BCI for December 2006 which was on yet another best ever level of 103.5 index points. Towards the end of 2006 SACOB’s Business Confidence Index (BCI) recovered, and measured 99.5 in October, then increased to a new high of 103.2 in November 2006.