AFRICAN LOGISTIC SERVICES

Dear Valued Client,

Please be guided as per below:-

Reserve bank governor announces another repo rate increase.

South Africans are set to feel more pain in the coming months as the South African Reserve Bank (SARB) today hiked the repo rate once again by 25 basis points, taking the repurchase rate (repo rate) to 7.25% from 7%.

This means that the prime lending rate in the country will increase from 10.5% to 10.75%.

SARB Governor Lesetja Kganyago said that the changes will come in to effect from 27 January 2023.

Many economists ahead of the Monetary Policy Committee’s (MPC) meeting predicted a hike of between 25 – 50 basis points.

Based on the above please be advised that we ALS as your appointed clearing and forwarding agent have no other option but to increase our respective charges ie. Finance / Facility Fee in accordance with the increase. Should further clarification be required then please feel free to contact our Financial Director Brent Reddy who will be glad to provide further clarification on the matter.

We thank you for your continued support, Assuring you of our best attention and services at all times,

Your Vested Business Partner

ALS Management Team.