Message from MD - February 2024
Category Newsletter: Message from MD
Within a blink of an eye, we bid farewell to 2023 and are well into the month of February 2024! The days are slowly becoming shorter and although Gauteng will reach temperatures well above 30 degrees this week, one can already feel the effects of the looming change of seasons.
This year not only the USA and UK but also South Africa will head to their respective polls to cast their votes and by doing so elect their leaders for the next term. Although it will be interesting to see who will be victorious in both the USA and UK elections, the ruling ANC should once again garner the most votes in South Africa. There are however predictions that they will lose their outright majority and will, for the first time in thirty years not be the outright ruling party in the country.
I predict that we will soon see the first repo rate cut. Although unlikely to be substantial at first, this will hopefully be the start of further cuts going forward. This should bring some relief to most South Africans who are battling the rising costs of living brought on by high fuel prices and the excessive price increases of basic goods.
Author: Nico Louw
