Category News

The South African

Minister Gwede Mantashe launches South African National Petroleum Company (SANPC) to enhance energy security and manage petroleum assets effectively. The state-owned enterprise is a merger of PetroSA, iGas, and Strategic Fuel Fund Association, aiming to reduce fuel imports and attract investors. Mantashe stresses the importance of partnerships and investment in the evolving global energy landscape.
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News 24 | Business

PetroSA’s questionable dealings revealed: Selling diesel to unqualified company, accumulating massive debts, and incurring demurrage fees. Financial mismanagement and lack of transparency highlighted. Oil tankers carrying $35 million worth of diesel unable to unload due to PetroSA’s full storage tanks.
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BBC News

The Kremlin accused Donald Trump of “emotional overload” after he criticized Putin for Ukraine attacks. Trump called Putin “absolutely crazy” for killing 13 people. Putin’s spokesman cited “emotional overload” for the comments. Germany’s chancellor mentioned removing range limits on arms for Ukraine. Russia conducted its largest aerial assault since the invasion, killing 13 and injuring many.
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Network News

The Competition Commission recommends approval of Groupe Canal+ SAS acquiring MultiChoice, with conditions to prevent job losses for three years. The investigation into the merger aimed to ensure competition in the market. Canal+ is a French media company involved in various entertainment services. LicenseCo will broadcast content through DStv.
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Daily Maverick

Sentencing proceedings for Joshlin Smith trial defendants in Saldanha Bay began, with uncertainty on defense witnesses. Judge Nathan Erasmus to deliver sentences for Racquel Smith, Jacquen Appollis, and Steveno van Rhyn on May 29. Trial started in March 2024, resulting in convictions for human trafficking and kidnapping. Impact victim statements finalized by State prosecutor.
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The South African

Traveling affordably is possible with the rand’s pressure. Consider these six countries for South Africans in 2025: Thailand offers cheap living costs, with beachfront bungalows under R400 a night and street food under R50. Enjoy the energy and culture of Thailand without breaking the bank.
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Moneyweb

South Africa’s coalition government has reached an agreement on Budget 3.0, allowing focus on economic recovery and attracting investors. Construction continues at the Goodenough Abstraction Works project in KwaZulu-Natal. Infrastructure Minister Dean Macpherson highlighted reduced political noise and broad support for the budget.
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Moneyweb

Pretoria High Court rules that cryptocurrencies are not ‘capital’ or ‘currency’ under South African exchange control regulations. This decision allows for an increase in cryptocurrency exports until a loophole is closed. The ruling provides clarity for the crypto industry and signifies a shift in how digital assets are treated under South African financial law.
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The South African

South Africa’s motorists may face fuel cost increases in June despite recent decreases. Lower brent crude oil price and stronger rand led to previous drops. Recent events, including rising oil prices and political meetings, may impact future fuel costs. Projections from the Central Energy Fund show potential decreases for petrol and diesel prices effective May 23.
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MyBroadband

Altron’s strong financial performance for the year ending Feb 28, 2025, saw a comprehensive profit of R355 million. CEO Werner Kapp credited disciplined strategy execution for success amid economic and political uncertainty. EBITDA rose by 27% to R1.8 billion, with the Platforms segment driving double-digit revenue and profit growth. Revenue decreased to R9.6 billion from R10 billion.
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