February BETI reflects economic slowdown

After two consecutive months of encouraging growth, the BankservAfrica Economic Transactions Index (BETI) fell to 131 in February, a 1.9% year-on-year decline, signalling the country’s deteriorating economic activity and that the persisting pressures in the economy are hurting businesses and consumers. At an index level of 131, the BETI for February slipped to October’s level and declined by 1.3% on a monthly basis, unlike the increases of 1.4% and 0.4% experienced in December 2022 and January, says BankservAfrica stakeholder engagements head Shergeran Naidoo.