Future business investment intentions (H1 2023)

As with building activity, this may have helped encourage private business investment activity that might otherwise not have been
forthcoming.

With 70% of businesses in South Africa anticipating a rise in profitability in the upcoming 12 months, there is an overall increase in intentions for future business investments with regard to investment in staff skills and new buildings. There was a marked decrease with regard to the planned investment in plant and machinery.