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Sars Commissioner aims to recover R20-50 billion to boost fiscus. Growth areas: personal income tax (12.6%), corporate income tax (2.1%), VAT (2.3%). R301 billion recovered through compliance. Sars using tech like AI to combat criminality and non-compliance, safeguarding legitimate refunds and preventing fraud.
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Tshwane plans to build Africa’s largest automotive assembly precinct in Rosslyn, creating 150,000 jobs. The 7,157ha precinct will house major automotive assemblers like BMW and Nissan. The project, developed by the Automotive Industry Development Centre, aims to attract foreign and local investment over 40-50 years for economic growth and job creation.
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The Department of Petroleum and Mineral Resources announced fuel price adjustments for April 2, 2025. March’s global oil price decline due to US tariffs led to lower fuel prices, partially offset by tax hikes. Prices will drop by 58-72 cents per litre for petrol and 84-86 cents per litre for diesel. Factors include global oil prices and the rand/dollar exchange rate.
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ANC’s Fikile Mbalula criticizes AfriForum for representing a school principal accused of raping a seven-year-old pupil in the Eastern Cape. Mbalula condemns the act as a reflection of ongoing gender-based violence in society and calls for justice over racial or political considerations.
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A devastating earthquake in Myanmar has left bodies trapped under collapsed buildings, with over 2,700 dead and thousands injured. Rescue efforts continue as the death toll is expected to rise above 3,000. In Mandalay, 50 children and two teachers died when a preschool collapsed. Local aid groups are working to recover bodies from the rubble.
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ANC Secretary General Fikile Mbalula condemns the rape of seven-year-old Cwecwe at her school in Eastern Cape. Police’s special unit deployed to assist in the case. Nationwide protests against gender-based violence. South African Council of Churches condemns the incident. Despite efforts, pervasive rape and violence remain unresolved in the country.
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US President Donald Trump is set to announce new tariffs, dubbed “Liberation Day”, but details remain unclear. Previous tariffs have targeted Chinese imports, steel, aluminum, and goods from Canada and Mexico. Higher levies on cars are expected. The White House has not disclosed specific tariff rates, leaving analysts to speculate.
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The revamped Eat Out Awards event in Cape Town was a success, signaling a commitment by New Media and Woolworths to lead restaurant awards in South Africa. The event addressed past criticisms and honored Nathan Clarke as the Rising Star and Franck Dangereux with the Lifetime Achievement Award. The evening celebrated the restaurant industry and its talented individuals.
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South Africa’s fixed home broadband speeds have greatly improved in the last decade, with costs per Mbps decreasing. Telkom’s monopoly on fixed copper-based Internet services until 2012 led to poor service and customer neglect. Competition Tribunal ordered Telkom to split wholesale and retail businesses in 2012. Failure to adopt optic fiber technology and infrastructure issues plagued the company.
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Asian stocks stutter as gold nears record high amid nervousness over Trump’s tariff plans. Investors await details of reciprocal tariffs, fearing an intensifying global trade war. Trump’s levies on aluminium, steel, autos, and Chinese goods have rattled markets. Asian stocks fall, with Japan’s Nikkei down 0.3% and South Korea’s index 0.57% lower. S&P 500 and Nasdaq end higher after choppy session.
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