Flash Briefing: Fuel rates struck record-high; 2021 Local Elections upgrade; SA pension funds prohibited from crypto financial investments per draft guidelines

2
Flash Briefing: Fuel rates struck record-high; 2021 Local Elections upgrade; SA pension funds prohibited from crypto financial investments per draft guidelines

  • South African vehicle drivers will be struck with record-high fuel costs from Wednesday, with fuel costs increasing R1.21 and diesel rates soaring R1.48 This puts the inland petrol rate over R1950, pressing towards the R2000 mark. Economic experts and experts have actually cautioned that the gas rate will press over R20 by the end of the year. The boost is because of increasing worldwide oil costs, which have actually skyrocketed this year as economies recuperate from the pandemic. The weaker rand has actually likewise made it more costly to import petroleum items– and modifications to the slate levy have actually likewise contributed to the discomfort.
  • South African pension funds will be prohibited– in no unsure terms– from purchasing bitcoin or its brother or sister cryptocurrencies, under brand-new draft guidelines On Friday, financing minister Enoch Godongwana set 12 November as the public-comment due date for his proposition, making it possible for the modifications to be brought into force prior to completion of the year. It had actually formerly been believed possible for pension funds to put up to 2.5%of their properties into cryptocurrencies, under guidelines permitting a broad classification of “other possessions” to form part of their methods. The brand-new draft guidelines released in the Government Gazette offer that, “A [pension] fund might not buy crypto-assets straight or indirectly”– which particularly consists of by means of the “other properties” allowance.
  • With over a 3rd of votes counted, the ANC stays well listed below 50%of the nationwide vote in the 2021 Local Elections, and of the significant Metros, is just above this crucial level in eThekwini. The Democratic Alliance is conveniently ahead in Cape Town and leads the field with over 40%in Tshwane. All the other significant Metros are extremely carefully objected to. Herman Mashaba’s ActionSA is introducing a major difficulty to the Big Three in the significant Gauteng Metros with its greatest proving in Jhb where existing numbers recommend that an effective alliance with the DA and smaller sized celebrations (omitting the EFF) would suffice to attain control.

( Visited 1,321 times, 32 check outs today)

.

Cyril Ramaphosa: The Audio Biography

Listen to the story of Cyril Ramaphosa’s increase to governmental power, told by our really own Alec Hogg.

Get the Audiobook

Narration by Alec Hogg.