South African business confidence index rises in September - SACCI

JOHANNESBURG (Reuters) - South African business confidence rose in September, helped by an increase in tourism and greater trade volumes, data showed on Wednesday.

The South African Chamber of Commerce and Industry (SACCI) monthly business confidence index (BCI) increased to 110.9 in September from 105.6 in August.

"Business confidence presently remains resilient and at a better level than the average for 2020," SACCI said, adding that it had surpassed the level of 103.9 hit in March 2020 before the government imposed lockdown restrictions in response to the COVID-19 pandemic.

Factors weighing on confidence in September included higher interest rates and lower share prices.

(Reporting by Anait Miridzhanian; Editing by Alexander Winning)