South Africa faces a R1.50/litre petrol price increase in June as the government’s intervention to ease the cost of high fuel prices comes to an end.

China should head the creditors committee being formed to renegotiate Zambia’s $17.3 billion of foreign debt because that will help accelerate the resolution process, the southern African country’s finance minister said.

Banks in Africa see the entry of telecommunication companies into banking services as a threat to their market share as more mobile firms venture into the sector, a report on digital banking in the continent has found.

Elon Musk has secured about US$7.1 billion of new financing commitments for his proposed US$44 billion takeover of Twitter, the company said in a filing Thursday.

Inflation in South Africa is set to rise to 8% this year, overshooting the central bank’s target amid the global impact of the Ukraine conflict and rising US interest rates, credit rating agency Moody’s forecast in a report on Wednesday.

South Africa’s rand steadied against the dollar early on Tuesday, though the unit hovered near its weakest levels in nearly five months amid an elevated greenback and an imminent interest rate hike by the US Federal Reserve.

SA petrol prices will be lowered on Wednesday, while diesel will get pricier, the Department of Mineral Resources and Energy announced on Tuesday.

After crashing through R16/$ on Thursday, the rand was slightly stronger at R15.90 on Friday morning.

Some South African retailers have begun imposing per-customer limits on cooking oil, with Russia's war wreaking havoc on the supply of sunflower oil globally.

South Africa may be entering a fifth Covid wave earlier than expected after a sustained rise in infections over the past 14 days that seems to be driven by the BA.4 and BA.5 Omicron sub-variants, health officials and scientists said on Friday.

Joomla! Debug Console

Session

Profile Information

Memory Usage

Database Queries