- Published on Friday, 02 December 2011 13:10
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The Africa Business Confidence Index (ABCI) for November shows expansion in both the index for manufacturing and non-manufacturing sectors in Africa. The difference compared to October in the manufacturing index is a plus of 3.7 percentage points, and in the non-manufacturing index a decrease of 4.0 percentage points. The index measures business confidence in the manufacturing and non-manufacturing private sector throughout Africa. Results are published on a monthly basis.
The November indicate confidence and growth with an index of 53.4 and 52.9 for the manufacturing and non-manufacturing sectors respectively. A level of 50 and above indicates expansion. Business professionals from more than 30 countries in Africa participated in the survey making the results a reliable gauge and early indicator of the underlying economic activity on the African continent.
The ABCI follows a similar methodology and logic as the PMI indices which set the global standard. Members of the Africa Business Panel are business professionals and entrepreneurs working in Africa’s private sector. On a monthly basis they are invited to report change from the previous month on the following indicators: new orders, production, employment, supplier deliveries, inventories, costumer inventories, prices paid, backlog of orders, new export orders and imports for the manufacturing sector, and similar indicators for the non-manufacturing sector. For more information on the survey and index methodology please visit www.africabusinesspanel.com
November ABCI Results Highlights:
Private sector business confidence index for the African continent
- African business professionals from more than 30 countries in Africa participated in this survey
- Manufacturing sector confidence index 53.4; non-manufacturing 52.9
- These levels indicate expansion for the manufacturing and non- manufacturing sectors in November
Hartmut Sieper, CEO Trans Africa Invest in Germany: "Africa is the most interesting region in the world for business and investments. This trend will continue for the next 10 years - at least. Africa becomes even more attractive as the economies of the developed countries slow down."
Whenkeremma Okezie, CEO Geomarine Systems in Nigeria: "I think conditions for business are beginning to improve as politicians and governments begin to understand the relationship between political stability and social and economic progress. It is still work in progress and will take time but those businesses that weather the storm of the transformation will reap bountifully. Africans have a way of rewarding those that stick with them in tough times."
Emma Mugisha, Barclays Bank in Uganda: "With escalting inflation driven by fuel prices and local currency devaluation, business seems to have slowed down. Interest rates in the different countries have gone up significantly to cub inflation slowing down borrowing and production."
Pablo Moratinos, AbsoluteCement West Coast Africa in Spain: "Business conditions in Africa specially in West Africa are increasing but we are suffering with Euro crisis."
Gerard Currin, AfricaScope in South Africa: "I am optimistic about the future outlook for business in Africa. I believe strongly that it is time for African businesses to look more to Africa for knowledge and skills and less from outside of Africa."
About Africa Business Panel
Africa Business Panel (ABP) is a joint initiative of Africa Business Communities www.africabusinesscommunities.com , a fast-growing network of African entrepreneurs and business professionals, and NarrowMinds - www.narrowminds.com, a leading architect of online market research and loyalty programs.
Africa Business Panel generates reliable indices on business developments and economic outlook in Africa. In doing so, Africa Business Panel wishes to contribute to the continent’s business reputation and produce in-depth market research data for governments, the business community and international organizations. Africa Business Panel provides intelligent matches for African business professionals with the rest of the world which results in promising business opportunities.
Join the Panel
Business professionals based in Africa are invited to join the Africa Business Panel. As a member of the Panel your insights and opinions directly contribute to the Africa Business Confidence Index. Panel members benefit by participating: the outcome of the survey results are shared with Panel members directly and in greater detail than with non-members. All surveys are permission based, allowing you to decide when and to what degree you wish to participate. Your personal details are treated strictly confidential by the Africa Business Panel. No personal information is ever published or sold to third parties. If you qualify, please go to www.africabusinesspanel.com and click on Register and shine your light on the business climate in Africa!
For more information:
Africa Business Panel/NarrowMinds
+31 (0)20 8465599
Van Heenvlietlaan 220
1083 CN Amsterdam