The level of business confidence in South Africa has plummeted to a 35-year low due to the coronavirus, a level last seen in 1985 when the country was struggling with international sanctions and the apartheid movement.
The South African Chamber of Commerce and Industry (SACCI), in a statement on Thursday, said its monthly business confidence index sank to 77.8 in April 2020 from 89.9 in March.
"This was the lowest reading since January of 1985, reflecting the economic impact of the first month of a strict lockdown which started on March 27 to limit the spread of the coronavirus disease," the SACCI said.
The lockdown in South Africa entered its 43rd day on Friday. It is described as a five-level, risk-based approach that differentiates on a national, provincial and local-level.
Currently, the country is at level 4 lockdown with highly limited opening of some sectors. So far, the coronavirus has claimed 161 lives with 8,232 infections in the country, according to the Johns Hopkins University.
Limited economic activity has put pressure on the government to ease restrictions.
In its statement, the SACCI said, "Striking negative monthly impacts on the index were caused by the lower volume of merchandise exports, the weaker exchange rate of the rand, and less new vehicles sold all mainly due to the lockdown."