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Africa Business Confidence Index continues to show growth

Manufacturing index 54.7 and non-manufacturing index 56.0, both numbers still indicating growth for the 4th consecutive month; manufacturing down by 5.6 percentage points; non-manufacturing declines by 2.9 percent compared to March.

The Africa Business Confidence Index (ABCI) for April shows growth in both the index for manufacturing and non-manufacturing sectors in Africa. The difference compared to March in the indices for both manufacturing and non-manufacturing shows a decrease in business confidence with 5.6 and 2.9 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 April ABCI results indicate confidence and growth with an index of 54.7 and 56.0 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.


Although results for the April business confidence index in Africa show a minor decline, the overall trend of private sector confidence in Africa remains positive. The lower numbers for April’s index  could reflect turmoil in Nigeria and Ivory Coast as well as lower prices for food commodities. However, the index also reflects confidence of the private sector in Africa’s continued economic growth.” says John Ngumi , Director Investment Banking Coverage, Corporate and Investment Banking of Stanbic Bank in East Africa.


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


April 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 54.7; non-manufacturing 56.0
  • These levels indicate expansion for manufacturing and non- manufacturing sectors in April compared to March

About Africa Business Panel

Africa Business Panel (ABP) is a joint initiative of Africa Business Communities ( , a fast-growing network of African entrepreneurs and business professionals, and NarrowMinds (, 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 and click on Register and shine your light on the business climate in Africa!


For more information:

Africa Business Panel/NarrowMinds

Martin de Koning

+31 6 558 22 409

Van Heenvlietlaan 220

1083 CN Amsterdam

The Netherlands

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