Petrol price storm | Triple school fees | Troubled times

Here are the biggest news stories you may have missed this week. South African consumers are heading into a fuel price storm, with a petrol and diesel hike coming in March, fuel tax hikes in April, and the wider impact on transport, shelf prices and inflation likely to be felt in the months that follow. [BusinessTech logo]( [Top stories this week]( [◼ Major petrol price storm about to hit South Africa]( South African consumers are heading into a fuel price storm, with a petrol and diesel hike coming in March, fuel tax hikes in April, and the wider impact on transport, shelf prices and inflation likely to be felt in the months that follow. [◼ Trouble for private school fees in South Africa]( Elite schools have almost doubled their annual fees over the last ten years – with data from Momentum projecting that, on average, private school fees could triple in the next decade. [◼ Dark clouds gather for one of South Africa’s biggest employers]( High interest rates, the cost of living crisis, port congestion, and container backlogs have depressed the automotive industry in South Africa, and CEOs in the sector don’t expect things to get any better for at least the next six months. [◼ R1,500 a month tax on everyone with a job in South Africa – funding the NHI]( Research into the affordability of the NHI shows that every formally employed South African would need to fork over R1,500 a month through a payroll tax to meet the Department of Health’s funding estimations . [◼ Trouble for homeowners in estates and gated communities in South Africa]( Selling a property in a gated or secure community may come with an unpleasant surprise. [◼ The only province in South Africa where more people are unemployed than working]( South Africa’s unemployment rate trended upwards in the fourth quarter of 2023 due to the inflated cost of living, high interest rates and fuel prices, and continued load shedding. [◼ Another town in South Africa to break free from load shedding]( The Western Cape Government and the Hessequa Municipality are working together to make the town of Riversdale load-shedding-free. [◼ Bad news for chocolate lovers in South Africa]( Those with a sweet tooth will have to dig deeper into their pockets if they want to get their hands on their favourite chocolate bar, with record-high cocoa prices starting to curb global demand. [◼ Big turn for domestic workers in South Africa]( Four years after the Covid-19 pandemic caused South Africa to bleed a quarter of a million domestic worker jobs, the sector has managed to recover about half the lost jobs. [◼ Another blow for interest rates in South Africa]( The latest minutes from the United States Federal Open Market Committee (FOMC) have all but cemented a longer hold on interest rates in South Africa at 14-year highs. [Facebook]([Twitter]([LinkedIn]([YouTube]( [Manage your preferences or unsubscribe]( • [View PDF]( • [Pause Subscription]( • [View Online]( This email was sent to {EMAIL} on 25-02-2024 This is intended for opt-in communication only. If you feel this email is unsolicited please [report it]( to us Email Powered By Everlytic