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From the National Energy Regulator's approved tariff hikes for Eskom, to the net closing in on Steinhoff, here are some of the top stories from the week that was.
1. Brace for big fuel price increase on Wednesday
South African motorists will be paying 74 cents more per litre of petrol and between 91 and 93 cents more per litre of diesel from Wednesday.
The fuel price announcement for March was made by Minister of Energy, Jeff Radebe, on Monday morning.
2. South Africa's economy grew by 0.8% in 2018
South Africa's economy grew by 1.4% in the fourth quarter of 2018, Stats SA announced on Tuesday morning.
The figure of 1.4% was slightly above the consensus estimates of most analysts and economists of 1.2% growth.
3. SA authorities finally closing in on possible fraud, theft involving Steinhoff directors
It’s been a long 16 months for investors who were devastated when global retailer Steinhoff International Holdings [JSE:SNH] shocked markets with its accounting scandal, but now South African police and regulators are finally saying their investigations have progressed.
With four separate cases lodged, the police’s serious commercial crimes unit has taken 21 statements to probe potential fraud and theft involving Steinhoff directors.
4. Electricity prices to increase by 9.41%, says Nersa
The National Energy Regulator of South Africa has approved electricity hikes of 9.41%, 8.1% and 5.2% for the next three financial years, far below Eskom’s application for double-digit tariff increases.
Nersa made the announcement on Thursday in Pretoria following Eskom's application for price hikes of 17.1% for 2019/20, 15.4% for 2020/21 and 15.5% for 2021/22.
5. Watch out for load shedding at short notice - Eskom
Eskom says load shedding could be implemented at short notice on Friday, as the power system remains tight and vulnerable.
"[....] while Eskom is making every effort to limit load shedding, it could be implemented at short notice should there be a shift in plant performance. This could include a significant loss in generating plant due to unplanned technical breakdowns," it said. \
