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May 24 2012 17:31
The Reserve Bank will maintain current interest rates, and a sizeable reduction in the local petrol price is expected, says governor Gill Marcus.
May 24 2012 15:29
The Reserve Bank will maintain current interest rates, says governor Gill Marcus.
May 23 2012 22:00
Economic liberation or the lack thereof is the most divisive issue in the country, according to a survey.
Johannesburg - Petrol stations are compelled to accept cards, such as credit and debit cards, for fuel payments, the department of energy said on Thursday.
"Payment cards have historically not been allowed in South Africa because of huge costs associated with some of these cards," said spokesperson Bheki Khumalo in a statement.
The new regulations take effect on Thursday and are expected to reduce the number of robberies that take place at petrol stations.
"Removing cash from retailing operations is the primary objective for this move. It should result in improving safety conditions at retail outlets across the country."
He cautioned that not all petrol stations were immediately equipped to handle card payments.
One of the motivating factors behind the new regulations was the 2010 World Cup.
In May, Khumalo said card payments would be more convenient for the thousands of visitors to South Africa.
"We are expecting an influx of foreigners for... the World Cup and we think it'll make it easier for them not to carry around cash."
- Sapa