How consumers can benefit from the recent rate cut

JOHANNESBURG - The South African Reserve Bank last week announced a cut in interest rates of 25 basis points or a quarter of a percentage point.

The prime lending rate that banks use as a benchmark when lending to customers is 10.75%.

WATCH: Discussion | SARB cuts rates by 25 basis points

For a while the cuts have been small but there cumulative effect has resulted in a full percentage point decline since last September.

Financial planner, Rudolph Geldenhys, named Certified Financial Planner of the year 2024, discussed how consumers can benefit with eNCA.