Message from the MD - March 2024
Category Newsletter: Message from MD
Now that the President has officially announced that we will be heading for the polls to cast our votes on 29 May 2024, South Africans finally have their date with destiny; just a little more than thirty years after the historic democratic elections were held in the country for the first time. It is now more important than ever for each registered voter to make their vote count as this will determine who will have the arduous task of 'running' the country for the next five years. Unfortunately, good leadership is a scarce commodity, not only in South Africa but globally.
Consumers will again feel the pain of another large hike in the fuel price this month, mainly brought on by higher oil prices and a weakening Rand. This will have a knock-on effect on transport and food prices which in turn have an adverse effect on the inflation rate. With the Reserve Bank's Monetary Policy Committee meeting later this month, the inflation rate, and its current trajectory, will determine if there are any changes to be made in the current repo rate. While we're hoping for an interest rate reduction, this will only happen once the MPC is happy that the stubborn inflation rate is contained. Let us cross our fingers and hope for the best!
Author: Nico Louw
