Hits&Misses

Business confidence ticks up but the future’s not so rosy

BUSINESS confidence improved in the fourth quarter for the first time in almost two years, although the economy remains stuck in a downward phase. A quarterly gauge measuring sentiment rose to 26 from a two-decade low of 21,

Rand Merchant Bank and the Bureau for Economic Research said.

AFRICAN Bank, which joined the highly competitive retail banking industry in April when it launched a dayto-day account, plans to up the ante with a credit card relaunch in 2020. The “good bank” which emerged from the near collapse of African Bank

Investments in 2014 is shedding the image of a mass-loans provider with a suite of additional products.

DEMAND at SA’s weekly government bond auction surged as investors stocked up on some of the most attractive yields in emerging markets before supply dries up towards the year-end.

THE Reserve Bank’s gauge of future economic activity fell for the 12th successive month in September, suggesting no respite any time soon for an economy stuck in its longest downward trend since World War 2 and burdened by record unemployment. The

Bank’s composite leading indicator, a proxy for the business growth cycle in the coming six to 12 months, declined 1.6%.

PEPKOR has thrown in the towel in the Zimbabwe market after struggling to trade amid soaring inflation, fuel shortages and stagnant wages. The company has closed the remaining 20 stores in Zimbabwe, bringing to an end its 20-year presence in the country.

COAL producer Wescoal slipped into a loss in the six months to end-September amid waning demand for coal and production challenges at some of its operations. It reported a total net loss of R51m from a profit of R108m previously.