Fuel Prices Will Increase Again in October
Consumers in South Africa are bracing for another round of fuel price increases in October 2023. According to allAfrica, preliminary data from the Central Energy Fund suggests that petrol may rise by approximately R1.20 per litre, with diesel potentially increasing by up to R2 per litre. If these projections hold, it could mean that South Africans will soon be paying slightly over R25 for unleaded petrol along the coast and roughly R25.74 inland. These increases are mainly due to soaring international oil prices. They will likely strain household budgets, contributing to broader inflationary pressures.
Eskom’s Transmission Company Secures Vital Licences
The National Transmission Company of South Africa (NTCSA), a key component of Eskom’s ongoing restructuring, has achieved a significant milestone on its path to the entire operation. The National Energy Regulator of South Africa (Nersa) has granted the NTCSA a five-year trading license, permitting it to engage in commercial electricity trading activities. This license empowers the NTCSA to procure electricity from Eskom power stations independent power producers (IPPs), and participate in cross-border electricity imports. Furthermore, Nersa has greenlit import and export license, enabling the NTCSA to conduct import and export operations within the Southern African Development Community (SADC). This development marks a positive stride toward a more open energy market, enhanced supply security, and increased private sector involvement.
Markus Jooste Appeals R7.5 Million Fines in Steinhoff Accounting Scandal
Markus Jooste, the former CEO of Steinhoff, is contesting two fines totalling R7.5 million imposed by the Johannesburg Stock Exchange (JSE) for breaching its listing regulations. Jooste asserts that he did not know about the accounting irregularities that plagued the company and relied on information from other entities within the group. Conversely, the JSE maintains that Jooste was fully aware of the accounting improprieties and played a central role in them. The JSE argues that Jooste bears the burden of proving his innocence, which it contends he has failed to do. The Financial Services Tribunal is reviewing the matter and has not yet issued a verdict.
Gauteng Man Awarded R2.6 Million for Wrongful Detention
Ntokozo Patrick Xulu, a resident of Gauteng who was wrongfully detained for over two years after fatally shooting an attempted robber in self-defence, has been granted R2.6 million in damages. The Gauteng High Court in Johannesburg ruled that Xulu’s prosecution was unjust and that his prolonged detention had profoundly disrupted his personal life. Xulu was apprehended in November 2018, charged with murder, and detained for 813 days. As a victim, the court emphasised that Xulu did not receive the expected protection from law enforcement and ordered the police ministry to cover the legal costs associated with the case.
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