Message from the MD- 5 September 2023
Category Newsletter: Message from MD
Once again most of South Africa, with the exception of the Western Cape, was catapulted from winter straight into summer. Only last week we were still donning coats against the cold weather and this week the mercury will be kissing 30 degrees! It seems to have become a trend for both spring and autumn weather to be overshadowed by summer and winter.
More positive news was a further drop in our inflation rate to its lowest level in two years. It is currently sitting at 4,7%, well within the 3-6% Monetary Policy Committee 'sweet spot'. However, consumers should not expect a change in the current repo rate too soon - hopefully the first decrease will be announced early in 2024.
2024 will also be the year in which South Africans are able to cast their votes in their seventh democratic elections. There are so many things to be fixed in this beautiful country and we do have some amazing people who are willing to contribute. If only our politicians can realize that they are there to serve the country and its citizens and not their own agendas, we could be well on our way in creating a better society for all.
Author: Nico Louw
