The South African Chamber of Commerce and Industry's monthly business confidence index fell 95.6 to in March from 96.9 in February.
“After indicating a faster recovery in January and February 2022 as the Covid-19 effect faded, the unexpected Russian military campaign in Ukraine added to global business uncertainty and caused the BCI to slow in March 2022,” SACCI said in a statement.Russia's six-week long incursion in Ukraine has seen more than 4 million people flee abroad, killed or injured thousands, turned cities into rubble and led to sweeping sanctions on its leaders and companies.