The Association of Chartered Certified Accountants (ACCA) said based on the latest findings of the 'Global Economic Conditions Survey', the access to growth capital improved substantially in the quarter, reaching its best levels in at least two-and-a-half years.
The survey showed there were signs of a slow return to financial stability, with inflation and exchange rate volatility falling.
"But, with growth in the rest of the region facing strong headwinds, opportunities for organic growth fell," added ACCA in a statement.
Although this development would normally tend to depress business confidence, it has been balanced out by expectations of stronger medium-term growth in government expenditures, it said, adding that business confidence rose to the highest levels in a year - rivalling the post-election highs of the second quarter in 2013.
The survey said 18 per cent of respondents reported confidence gains (up from 12 per cent) while 28 per cent reported a loss of confidence (down from 49 per cent).