SACCI said the current state of fiscal deficiencies, social injustices, and unemployment were the likely cause of crime, violence, looting and anti-foreigner sentiments currently dominating news headlines.
The South African Chamber of Commerce and Industry's monthly business confidence index (BCI) fell to 89.1 in August from 92.0 in July, the lowest level since the inception of the index in April 1985 when the measure was at 88.1, the business body said.
"We're not talking about the same set of circumstances as back then, but you are seeing a similar economic climate," said SACCI economist Richard Downing.
"This time the main thing is the difficulty government is having in implementing what needs to be done".
Seven of the thirteen sub-indices in the BCI deteriorated between August and July, four improved, while two remained unchanged, SACCI said.
Merchandise export volumes, the exchange rate weighted against major trading and investment currencies, and share prices on the Johannesburg Securities Exchange were the most negative contributors.
Africa's most industrialised economy recorded a surprise 3.1% expansion in the second quarter after contracting by the same margin in the first quarter following a sector-wide slowdown driven by power outages.
But the economic growth outlook remains meek amid lack of clarity and progress on reforms.
On Tuesday ratings firm Moody's, the last of the top-three credit agencies to rate the country's sovereign debt at investment grade, warned of the risk of ongoing uncertainty and the slow pace of reforms, especially at cash-strapped power utility Eskom. (Reporting by Mfuneko Toyana; editing by Olivia Kumwenda-Mtambo)
SA has BBBEE (Broad-Based Black Economic Empowerment). It basically mean white owned businesses cannot get contracts because you need to basically give your business away to have majority black ownership. So most big industries give management seats to "non-whites" (oh you better not say "blacks" or you would be called a racist) , even when they are not educated to fill the position. In those same BBBEE companies it is
almostimpossible for a white young male to get to work there. (I sincerely do not mind if they are better qualified for the job)I am someone that can trace my ancestry back more than 300 years living in South Africa (Ancestor arrived 1688 in CapeTown ). The majority of blacks only came the SA fleeing a genocide back about 200 years from the North and East. The area of Natal was home to the Zulus and the rest of the country was empty. Lookup "Mfecane" [Link]
In the "apartheid" are, there were indeed a couple of areas where non-whites got kicked out(a small area in Johannesburg and a small area in Cape Town (named district six if I recall correctly- but no blacks lived there)). The farm lands where paid for by their white owners, every cent, no handouts..
..sheesh, I can go on and on..
Most of the "protesters" and noise makers re "apartheid" are born after 1994 .
So, we basically have a slow genocide against the minority whites just trying to survive and make ends meet..
In close, as a white person of 50 years, I did not benefit one cent living in the "apartheid" era.