Failed state warning and more petrol price hikes ahead

These are the biggest stories on BusinessTech you may have missed this week | Business interest group Sakeliga says South Africa’s latest round of data shows that the country is in deep financial distress – a situation that is almost always followed by state failure. [BusinessTech logo]( [Top stories this week]( [◼ Failed state warning for South Africa]( Business interest group Sakeliga says South Africa’s latest round of data shows that the country is in deep financial distress – a situation that is almost always followed by state failure. [◼ Alarm bells for petrol prices in October]( The outlook for petrol prices in October is starting squarely on the back foot. [◼ One of the biggest malls in South Africa just sold for R1.3 billion]( The biggest mall in the Eastern Cape has sold for R1.3 billion as part of a wider R7 billion sale of Rebosis properties. [◼ Big turn for South Africans earning more than R20,000 a month]( South Africa's higher-income households – earning more than R20,000 a month – have seen a significant recovery in confidence after hitting a new low in the last quarter. [◼ Capitec is closing the taps]( Capitec says it is being more stringent over giving loans amidst the challenging economic environment. [◼ Alert over licence renewals in South Africa]( The Road Traffic Management Corporation (RTMC) says it will be sending alerts and notifications to over 1 million motorists in the coming weeks, warning of vehicle licences that are about to expire. [◼ Why you’re paying 450% more for electricity since load shedding started]( Since the start of load shedding in 2008, Eskom’s tariffs have increased by 450%. [◼ South Africa has hit its limit]( National Treasury is reportedly proposing a host of extreme measures to get national departments and other spheres of government to cut spending as the country’s coffers have run dry. [◼ South Africans can travel to these countries visa-free – the cost of food, drinks and transport compared]( There are 106 countries where South Africans can travel around the world without needing a visa – including notable destinations such as Argentina, Brazil, Singapore, Japan, Malaysia, and even Ireland. [◼ Big changes for reporting irregular expenditure at Eskom, Transnet and other SOEs]( National Treasury has briefed the Standing Committee on Public Accounts (Scopa) on an instruction sent to all accounting officers of state-owned companies in January 2023, which will effectively allow them to downplay the impact of “irregular expenditure” in financial statements. [Facebook]([Twitter]([LinkedIn]([YouTube]( [Unsubscribe]( • [Manage your Preferences]( • [View PDF]( • [Pause Subscription]( • [View Online]( This email was sent to {EMAIL} on 10-09-2023 is intended for opt-in communication only. If you feel this email is unsolicited please [report it]( to us Email Powered By Everlytic