The retail cost of 95-octane gasoline will climb by almost 7% to a R19.54 a liter, the Central Energy Fund said in a statement on its website. South Africa’s gasoline prices are set to rise to a record on Wednesday, adding to inflationary pressures in an
A key milestone for the Elon Musk-led carmaker whose shares have been on a tear amid a global shift to electric vehicles. Tesla joined an elite group of companies with market values of at least $1 trillion on Monday, a key milestone for the Elon Musk-led
The association expects a litre of petrol to cost consumers as much as R20 by the end of 2021. The Automobile Association (AA) on Tuesday warned that the country’s drivers could see a ridiculous surge in fuel prices by the of the year, starting at the
The first deal in a United Nations program to fund green energy in Africa. Pacific Investment Management Co. has agreed to lend a South African state development bank R3-billion ($210 million), the first deal in a United Nations program to fund green energy in Africa. The debt
And boost electricity costs. Eskom, the world’s biggest emitter of the pollutant sulfur dioxide, said retrofitting about half of its coal-fired plants with pollution cutting equipment would cost more than R300 billion and boost electricity costs. The state-owned South African utility said it has applied for an
The currency declined for a second day on Monday to its weakest level in more than a month. The rand is taking a bigger hit than most of its emerging-market peers as an energy crisis and Chinese growth concerns batter the South African currency and worsen
Refusal to recognise visitors as vaccinated unless they received their shots in a handful of select countries. The UK government is facing a rising backlash over its refusal to recognise visitors as vaccinated unless they received their shots in a handful of select countries. Under travel rules
After being knocked off the top spot during last month’s bout of volatility. The rand has reclaimed its position as the best-performing emerging-market currency this year after being knocked off the top spot during last month’s bout of volatility. A burgeoning trade balance and ample dollar liquidity
Trading profit is up 47.8%, with strong performance from Services, Automotive and Commercial Products. Bidvest shrugged off the disruptive effects of Covid-19, registering a 47.8% growth in trading profit to R7.9 billion for the year to June 2021. The Services division remains the largest contributor to profit (41%),
Image: Waldo Swiegers/Bloomberg Investors appear to be comfortable holding Eskom’s bonds even after the state-owned electricity company reported a fourth consecutive annual loss as it continues to service a mountain of debt. The yield premium of Eskom’s 8.45% dollar notes maturing in 2028 over US Treasuries narrowed