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Zawya
06-05-2025
- Business
- Zawya
South Africa Fuel price relief: petrol and diesel costs to decrease in May
Motorists will breathe a sigh of relief from Wednesday as the cost of all grades of petrol is set to come down. This is as the Minister of Mineral and Petroleum Resources, Gwede Mantashe, announced the adjustment of fuel prices based on current local and international factors with effect from Wednesday, 7 May 2025. The price of petrol 93 (ULP and LRP) will decrease by 22c a litre while the price of 95 (ULP and LRP) will also come down by 22c a litre. Currently, a litre of petrol 95 costs R21.62 in Gauteng. As of Wednesday, this will come down to R21.40 a litre. At the coast, a litre of 95 petrol, which costs R20.79 a litre, will cost R20. 57 as of Wednesday. Meanwhile, the price of Diesel (0.05% sulphur) will decrease by 42c a litre and that of Diesel (0.005% sulphur) will come down by 41c a litre. The price of Illuminating Paraffin (wholesale) will decrease by 31c per litre. The Single Maximum National Retail Price (SMNRP) for illuminating paraffin will see a 41c decrease and the maximum LPGas Retail Price will increase by 46c per kilogram. 'The average Brent Crude oil price decreased from $71.04 to $66.40 during the period under review,' said the Department of Mineral and Petroleum Resources. It added that the tariff and trade war initiated by the United States which has raised global economic recession concerns, and a possible lower demand for crude oil, and oversupply of oil from non-Opec countries and the anticipated increase in oil production by Opec+ members were the main contributing factors for the fuel price adjustments. 'The average international petroleum product prices of petrol and diesel followed the decreasing trend of crude oil prices while the price of LPG increased due to higher freight (shipping costs) during the period under review,' said the department. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
Zawya
06-05-2025
- Business
- Zawya
Starlink is now available in Congo, Musk says
SpaceX CEO Elon Musk said on Sunday in an X post that the company's satellite system Starlink is now available in Congo. Democratic Republic of Congo said on Friday that it had become the latest African country to grant a license to Starlink, reversing an earlier ban. The Congolese government said in March 2024 that the use of Starlink was banned, with military officials warning that it could be used by rebel groups including Rwandan-backed M23, which has seized more territory than ever before in the east of the country this year. War-torn Congo has low connectivity, with just around 30% of the population using the internet as of 2023, according to the International Telecommunication Union. The satellite internet provider is rapidly expanding its services in Africa and is live in more than a dozen countries. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
Zawya
05-05-2025
- Business
- Zawya
South Africa records budget deficit of $704mln in March
South Africa recorded a budget deficit of R13.11bn ($704m) in March 2025. This is compared with a surplus of R3.36bn in the same month last year, National Treasury data showed on Wednesday, 7 May 2025. All rights reserved. © 2022. Provided by SyndiGate Media Inc. ( Sfundo Parakozov
Zawya
01-05-2025
- Business
- Zawya
Brics vs. Trump: Brics nations discuss shared response to Trump trade policies
Foreign ministers from the Brics group of developing nations met on Monday, 28 April 2025 to discuss a shared defence of the global trade system, coordinating their response to the barrage of new tariffs from US President Donald Trump. The meeting in Rio de Janeiro is expected to produce a joint statement criticising "unilateral measures" on trade from the group formed by Brazil, Russia, India, China and South Africa and recently expanded to include six more nations. "The ministers are negotiating a declaration to reaffirm the centrality of... multilateral trade negotiations as the main axis of action in trade," Brazilian Ambassador Mauricio Lyrio said. "They will reaffirm their criticism of unilateral measures of any origin, which has been a longstanding position of Brics countries." The expanded BRICS group, which added Egypt, Saudi Arabia, the United Arab Emirates, Ethiopia, Indonesia and Iran last year, faces daunting challenges from US trade actions. China, which was hit with 145% tariffs on its exports to the United States, has pushed for a harsher tone in the communique, but, according to a source familiar with negotiations, the final text will be critical but not confrontational. The Brics group as a whole has come under fire from Trump, who threatened another 100% in tariffs if the bloc moves ahead with a single currency to replace the dollar in trade relations. Brazil has already dropped the pursuit of a common currency in its Brics presidency, as reported in February, although its agenda may pave the way for less reliance on the US dollar in global trade. With an eye on the United Nations climate summit Brazil is hosting in November, the Brics ministers will also discuss a shared position on climate finance, a key priority for Brazil's presidency. Major developing nations, including China face growing pressure from wealthier nations to contribute to financing adaptation and mitigation initiatives in the poorest countries. "What is not on the agenda is the revision of which countries have to pay for the energy transition and the countries that can eventually, voluntarily, also finance it. This distinction is fundamental," said Lyrio. "The financial obligation to finance the fight against climate change and the energy transition in developing countries lies with rich countries," he added. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
Zawya
30-04-2025
- Business
- Zawya
South Africa: MTN suffers data breach exposing customer information
The MTN Group has said in a statement last week, 24 April, that it has experienced a cybersecurity incident that has resulted in unauthorised access to the personal information of some of its customers in certain markets. Delegates walk past the MTN logo at the Investing in African Mining Indaba 2024 conference in Cape Town, South Africa, on 7 February 2024. "Our core network, billing systems and financial services infrastructure remain secure and fully operational. "An unknown third party has claimed to have accessed data linked to parts of our systems. At this stage we do not have any information to suggest that customers' accounts and wallets have been directly compromised," it said. MTN said it immediately activated its cybersecurity response processes including informing the South African Police Service (SAPS) and the Hawks in South Africa. "We also informed the relevant country authorities and will continue to update them on an ongoing basis while working closely with them and law enforcement agencies in supporting their investigations. "We are in the process of notifying affected customers in compliance with local legal and regulatory obligations," the telecoms company said. As a reminder, MTN provided the following security measures for its customers: - To mitigate any fraudulent consequences, a fraud alert can be placed on an individual's credit report at any of the major credit bureaus. - Keep MTN, MoMo and banking apps and devices updated. - Use strong, unique passwords for accounts and change them regularly. - Be cautious of unexpected messages and do not click on suspicious links. - Do not disclose information such as passwords, PINs and OTP when asked to do so by phone, text message or email. - Where multifactor authentication is available, it should be activated. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
