JOHANNESBURG - The National African Federated Chamber of Commerce and
Industry (Nafcoc) on Friday congratulated Patrice Motsepe who had been selected
by Forbes as one of the 100 greatest living business minds.
Motsepe is the former Nafcoc President, and joins the doyens
of black business and achievers who came from Nafcoc. Monga Phaladi, Secretary General of Nafcoc said: "Nafcoc
is particularly proud and inspired by Mr Motsepe's accolades and
achievement"
Nafcoc also welcomed the decision of the South African Reserve
Bank Monetary Committee (SARB) decision to keep the repo rate unchanged.
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"This decision will ensure that the fragile recovery
that we have seen in the last quarter gains traction" Said Landiwe
Mahlangu Nafcoc Chief Economist. Lesetja Kganyago,SARB Governor on Thursday announced that
they will keep the interest rate unchanged.
The repo rate now stands at 6.7 percent. The prime lending
rate, the figure charged by banks to customers, will remain at 10.2 percent. The consensus over the last week was that the SARB would cut
of at least 25 basis points.