Consumers are now paying the highest price ever for fuel with the huge petrol increase that saw 95 unleaded petrol increasing by R1.00 and 93 unleaded petrol by 95 cents a litre.
An oil blending and storage company secured deals to supply South Africa’s state power utility with fuel oil worth more than R15 billion ($1 billion) at inflated prices by paying inducements.
Former Bain partner, Atholl Williams, has presented statements from various employees who said that they were uncomfortable with the work they were doing at the South African Revenue Services ( Sars).
Load-shedding will remain a reality for South Africans for the foreseeable future. This has been confirmed by the CEO of Eskom, Andre De Ruyter, during his recent update on the state of the power utility’s generation system.
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Many South Africans switched to the black market during lengthy cigarette and alcohol sales bans over the past year – and a sizeable group is not returning, says Shoprite.
The SABC is facing an uphill battle to increase TV licence compliance rates, as it faces a tax revolt against corruption and mismanagement at the state broadcaster.
In his budget speech this week, finance minister Tito Mboweni warned of a coming crackdown on “individuals with wealth and complex financial arrangements”
South Africa’s biggest pot of available cash — R1.91 trillion of civil-servant pensions and unemployment funds managed by the Public Investment Corporation — is emerging as the key to rescuing Eskom.
South Africa fell deeper into junk territory after Moody’s Investors Service joined Fitch Ratings in lowering the country’s credit ratings on Friday.
Moody’s cut the nation’s foreign- and local-currency ratings to Ba2, two levels below investment grade, from Ba1. The outlook remains….
