Great news for petrol prices and trouble for the Western Cape

Here are the biggest stories you may have missed on BusinessTech this week. South African motorists have experienced three consecutive months of petrol price cuts, almost reverting back to the prices at the start of the year by dropping an accumulative R2.38 since May. [BusinessTech logo]( [Top stories this week]( [◼ R2.40 petrol price relief for South Africa]( South African motorists have experienced three consecutive months of petrol price cuts, almost reverting back to the prices at the start of the year by dropping an accumulative R2.38 since May. [◼ Big petrol price cut on the cards for South Africa in September]( Despite global market turmoil this week weakening the rand, the concomitant drop in the global oil price is creating a sizeable over-recovery in fuel prices locally – setting South Africa up for petrol and diesel price cuts next month. [◼ R800 per month pain for South Africans who don’t pay tax]( In the first half of 2024, even those below the tax threshold in South Africa, like entry-level nurses and administrative staff, are still spending R800 per month on debt to make ends meet. [◼ The Western Cape is in deep trouble]( The Western Cape has one of the fastest-growing populations in the country, but its budget has been cut consecutively over recent years, threatening the province’s financial stability and the quality of life for residents. [◼ Huge win for Pick n Pay]( The Pick n Pay Group has overshot its rights offer by more than double, showing huge demand and confidence from investors in its turnaround strategy. [◼ Shopping mall warning for South Africa]( Banks and other experts have warned South Africans that shopping malls remain a prime hunting ground for criminals looking to target customers and ATMs or steal their smartphones to access data and banking apps. [◼ Countries outside South Africa where you can still use rands to buy things]( The South African rand may be the official currency of South Africa, but it is used as legal tender in three other countries. [◼ Standard Bank warning for banking customers in South Africa]( The banking industry in South Africa has noted an increase in clients duped by fraudsters posing as bank officials, tax officials, or investment companies. Older South Africans are being targeted specifically. [◼ SARS clarifies retirement fund tax changes for 2024]( The South African Revenue Service has given a more detailed breakdown of the changes for retirement fund contributions that kicked in from March 2024. [◼ Good news for meat lovers in South Africa]( South African consumers are catching a big break, with food price inflation finally easing to sustainable levels – and high-cost items like meat showing some much-needed drops in pricing. [Facebook]([Twitter]([LinkedIn]([YouTube]( [Manage your preferences or unsubscribe]( • [View PDF]( • [Pause Subscription]( • [View Online]( This email was sent to {EMAIL} on 11-08-2024 This is intended for opt-in communication only. If you feel this email is unsolicited please [report it]( to us Email Powered By Everlytic