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You are here: Home / Archives for Retail

Retail

25 September 2024

Nersa publishes Eskom’s revenue application for the next three financial years

Location: News

Nersa publishes Eskom’s revenue application for the next three financial years

The National Energy Regulator of South Africa (Nersa) on Monday published Eskom’s multi-year price determination (MYPD) revenue application up until 2028. 

According to Eskom, the application covers the power utility’s financial period beginning on 1 April 2025 to 31 March 2028. 

Eskom explained that it follows the MYPD methodology as prescribed by the regulatory authority.

“This methodology is now in its sixth application; hence the process is referred to as MYPD 6,” the statement read. 

Nersa will decide on the revenue Eskom can receive following its analysis and the regulator conducting a series of public consultations. 

Eskom believes that this application allows for an improvement in the financial sustainability of Eskom through the migration to cost-reflective prices and the successful operation of Generation, Transmission and Distribution in Eskom. 

“Further migration towards cost reflectivity to cover the full cost of capital would be considered in subsequent applications. This would minimise the impact on the taxpayers.”

In accordance with its revenue decision, Eskom said Nersa will then make tariff decisions for implementation from 1 April 2025. 

As per Eskom, it can only implement tariff decisions made by Nersa.

“We are entering the next phase of the regulatory process where Nersa will conduct an extensive public consultation about Eskom’s revenue application and we urge as many stakeholders as possible to become involved so Nersa can determine a key component in the funding of a constant electricity supply that drives economic growth and our quality of life for years to come,” said Chief Financial Officer of Eskom, Calib Cassim. 

Cassim stated that as Nersa makes its decision, it will consider affordability for identified vulnerable sectors including indigent customers and certain industrial sectors. 

“Eskom has made its revenue application based on the costs it will incur to efficiently provide electricity to the customer and it is a critical component in ensuring Eskom continues to provide reliable electricity services while improving its financial sustainability, through a migration to cost-reflective prices,” he added. 

The utility said it was applying for total revenues of R446 billion for the 2026 financial year, R495 billion for 2027 and R537 billion for 2028.

This translates to the proposed average price increases for Eskom direct customers are 36.15% (1 April 2025 to 31 March 2026), 11.81% (1 April 2026 to 31 March 2027) and 9.10% (1 April 2027 to 31 March 2028).

In addition to the MYPD 6 application, Eskom submitted a retail tariff plan (RTP) to Nersa outlining proposed structural changes, which are expected to be implemented from 1 April 2025 once all Nersa approval and governance processes are concluded.

“The RTP aims to introduce cost-representative pricing that supports the long-term sustainability of all participants in the electricity supply industry.” 

Nersa will consult with stakeholders on Eskom’s revenue application, as part of its decision-making process. 

Eskom is required to submit to the regulator the revenue it requires for Nersa to make its determination. – SAnews.gov.za
 

Gabisile
Wed, 09/25/2024 - 11:57

126 views
Read moreNersa publishes Eskom’s revenue application for the next three financial years
20 September 2024

OneTap Loyalty? Technology Receives Global Investment, Launches New UK Based Company, OneTap Group Ltd.

Location: MyPR

An innovative payments and loyalty solution to expanding to a global market. Industry giants, Brian Dunne, based in the UK, and Debbie Ghillino, based in South Africa were so impressed with the value proposition and the potential of the technology created by Australian based Elevate Loyalty Pty Ltd, they have invested and joined forces to …

Read moreOneTap Loyalty? Technology Receives Global Investment, Launches New UK Based Company, OneTap Group Ltd.
19 September 2024

Finding the Ideal Workspace for Your Business

Location: MyPR

When it comes to selecting the perfect workspace, flexibility and functionality are key considerations. Whether you’re a freelancer, a small business owner, or an entrepreneur, choosing the right office setup can greatly impact your productivity and business success. The availability of coworking space Marietta GA ensures that finding a collaborative or focused work environment is …

Read moreFinding the Ideal Workspace for Your Business
18 September 2024

Communications and Digital Technologies Committee Calls for Ministerial Intervention in South African Post Office (SAPO) Business Rescue Process

Location: News

Republic of South Africa: The Parliament
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The Portfolio Committee on Communications and Digital Technologies is gravely concerned about the business rescue process at the South African Post Office (SAPO) following a presentation to the committee yesterday, 17 September 2024.

The Business Rescue Practitioners (BRPs) appeared before the committee to provide an urgent update on mitigation strategies to avoid the so-called Day Zero scenario. Day Zero – set for 30 October 2024 – is understood to be the day when the ailing national postal services are expected to run out of cash reserves required for their operations.

The presentation covered the progress to date with implementing the business rescue plan and proposed mitigation measures being considered by the BRPs, who have assumed full management and operational control of the company. The committee noted some of the BRPs' work to achieve short to medium-term objectives, including reducing approximately R1.2 billion in annual employee costs, right-sizing the entity and paying dividend awards of 12 cents in the Rand to all pre-commencement current creditors.

The committee has, however, expressed its dissatisfaction with the presentation, reaffirming its position that the BRPs have failed to present a cogent business case for the SAPO's long-term sustainability in line with their statement of intent at the start of the business rescue proceedings, to ensure “the stabilisation, survival and future-proofing of the SA Post Office”.

The committee believes that the BRPs were appointed to implement a three-legged mandate of rescuing, stabilising and ensuring the long-term commercial viability of the Post Office. In the briefing to the committee, the BRPs said nothing about the plan to future proof SAPO, except to say that they needed R3.8 billion from the fiscus. According to the BRPs, this money is used to pay the final tranche of the retirement packages to employees, meet obligations with payroll creditors and use the remainder for capital and operational expenditures.

The committee believes that to access the desired cash draw down from the fiscus, the business rescue process should clearly demonstrate the path to viability and sustainability beyond this requested bail out. Failure to do so is to absolve the BRPs of their obligation to the organisation.

Consequently, the committee has called on the Minister of Communications and Digital Technologies, Mr Solly Molatsi, to urgently establish a Ministerial Intervention Team (MIT) to work with the Business Rescue Practitioners and the National Treasury, amongst others, to develop a strong business case to save and restore the Post Office as a reinvigorated going concern. The MIT should, amongst other actions, urgently convene stakeholders and other industry players in the postal services, courier and e-commerce sectors to engage on proposals towards strategic, sustainable and value-creating private sector partnerships. Due consideration should also be given to exploring opportunities to leverage SAPO's extensive property assets for retail, residential and student accommodation purposes.

To support the process, the committee shall also engage with its counterparts in Parliament to aggressively enhance support for the SAPO by the rest of government. Furthermore, the committee shall also seek a joint meeting with the Standing Committee on Finance to explore any available measures that can be put in place to salvage the situation. The committee firmly believes that no effort must be spared to rescue and revive the South African Post Office as a vital state institution with an important mandate to connect people to one another and to the government in a fast-evolving technological age.

Distributed by APO Group on behalf of Republic of South Africa: The Parliament.

Read moreCommunications and Digital Technologies Committee Calls for Ministerial Intervention in South African Post Office (SAPO) Business Rescue Process
18 September 2024

The Future of Building Automation

Location: MyPR

Gqeberha based BA Systems have completed a number of high profile projects in Nelson Mandela Bay, the Eastern Cape, South Africa and abroad. In this article we explore the benefits and cost savings that Building Automation and Management Systems offer to the industrial, commercial, retail and domestic consumer. What is Building Automation? Key Components Benefits …

Read moreThe Future of Building Automation
18 September 2024

Why the Woolies Boss Was Paid 1,300 Times as Much as a Shopfloor Worker

Location: News

Report by Just Share exposes pay gaps in the retail and wholesale sector

Read moreWhy the Woolies Boss Was Paid 1,300 Times as Much as a Shopfloor Worker
17 September 2024

Emira’s Biodiversity Project Creates a Brighter Future for Gauteng, Sustaining Nature’s Workforce

Location: MyPR

Gauteng features more sweet-scented and bright yellow flowers this year, heralding the end of winter and welcoming the start of spring. These flowers will also attract pollinators such as bees and butterflies in the province, helping to create a healthy and vibrant ecosystem. This is all thanks to the efforts of Emira Property Fund (JSE: …

Read moreEmira’s Biodiversity Project Creates a Brighter Future for Gauteng, Sustaining Nature’s Workforce
16 September 2024

The Futuregrowth Community Property Fund’s Bridge City Shopping Centre Wins Prestigious SAPOA Award

Location: MyPR

Bridge City Shopping Centre, owned by the Futuregrowth Community Property Fund (“Comprop”), has been awarded the 2024 South African Property Owners Association (SAPOA) Award for Innovative Excellence for the best Refurbishment. The SAPOA Awards celebrate excellence in the realm of real estate, recognising groundbreaking achievements in architecture, development, and design across South Africa. Globally recognised, …

Read moreThe Futuregrowth Community Property Fund’s Bridge City Shopping Centre Wins Prestigious SAPOA Award
13 September 2024

Manufacturers pleased with AllFashion Sourcing Exhibition

Location: News

Manufacturers pleased with AllFashion Sourcing Exhibition

Clothing, textile, footwear and leather manufacturers who showcased their proudly South African products at the AllFashion Sourcing Exhibition in Cape Town this week have expressed satisfaction with the quality of meetings they held and leads they acquired during the show.

The group received support from the Department of Trade, Industry and Competition (dtic) to showcase their products at the Cape Town International Convention Centre (ICC) from 10-12 September 2024. 

The Sales Manager of Genuine Connection Promotions, Elaine Köhne, described the experience as amazing and beneficial as it offered an opportunity to showcase their clothing line, gather market insight, connect with industry professionals and attract new business. 

“We managed to network, interact with visitors and other companies that were showcasing at the show,” Köhne said. 

“We had good conversations and exchanged contacts which we will definitely follow up on. We will invite these new contacts to our premises for further engagements that could lead to new business opportunities and partnerships. Importantly, the show gave us an opportunity to also see what is on the international market,” she said.

According to the Project Manager of the South African Retail–Clothing Textile Footwear Leather Master Plan 2030 Master Plan Programme, Courtney Barnes, it was great to see local manufacturers showcasing their capabilities at the show. 

She said what stood out from the master plan perspective was the variety of the local capabilities, although there is still a need to upscale and showcase more of the local capabilities with real capacity.

“If we want retailers to localise, we need to show them that we have the supplier capabilities and capacity. The show is the first step and I am excited to see its offerings next year and to bring more local manufacturers to the table and have more international buyers to come and appreciate what South African manufacturers can do,” Barnes said.

Sales Manager of Freudenberg Non-Wovens, a global manufacturer and innovative pioneer in the field of technical textiles, nonwovens and fibre, Heidi Smith, expressed her gratification with the outcomes of the show. 

She said the participation was remarkable, as it provided a platform for engagements with retail partners and current partners. According to her, they have started sending emails for the expansion of the engagements. 

“It was wonderful to engage with various partners and other designers coming to see what we do. It was more pleasing to engage with smaller designers and manufacturers who came to learn and understand how we are doing our business and what they can learn from us,” Smith said.

She said the panel discussions on the African Continental Free Trade Area (AfCFTA) focusing on boosting intra-African trade through regional value chains in the textile and clothing industry, the journey to sustainability focusing on green manufacturing, ethical sourcing, among others, were beneficial.

The Director of Leather and Footwear at the dtic, Dr Jaywant Irkhede, congratulated the event organiser, Messe Frankfurt SA, for a world class event. 

“The dtic and Industrial Development Corporation officials attended to the needs of the international and local exhibitors, and visitors with the aim of developing investment leads. The event offered an opportunity for scaling up, to showcase and promote manufacturing capabilities of South Africa and Africa. 

“Parallel events at the show brought together international community of manufacturers, designers, retailers, buyers, educational institutions, associations, investors, financiers and service providers to the textile, apparel, footwear and fashion industry,” Irkhede said. – SAnews.gov.za

Edwin
Fri, 09/13/2024 - 10:23

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Read moreManufacturers pleased with AllFashion Sourcing Exhibition
12 September 2024

Sector master plans critical to investment, boosting exports, creating jobs

Location: News

Sector master plans critical to investment, boosting exports, creating jobs

By Edwin Tshivhidzo 

Trade, Industry and Competition Minister Parks Tau has consistently emphasised the need to accelerate the implementation of the sector master plans as one of the key priorities of the seventh administration.

Since his appointment two months ago, the Minister has reiterated the critical role of the master plans in increasing investment, boosting exports, creating jobs, promoting localisation and facilitating transformation.

One of the interventions initiated by partnerships in the Retail–Clothing Textile Footwear Leather Master Plan, where more than 20 000 jobs have been created as a result of its roll-out, is the redesigned Clothing Textile Footwear Leather Growth Programme (CTFLGP), which was launched in 2022. 

Import substitution, creation of new jobs, transformation and competitiveness improvement are the main objectives of the programme.

One of the beneficiaries of the programme that is being implemented by the Department of Trade, Industry and Competition (the dtic) through the Industrial Development Corporation, is R and L Apparel. It is a woman-owned company based in Newcastle, KwaZulu-Natal. 

The company received financial support for the purchase of equipment and machinery, as well as for initial working capital, in order to grow their Cut, Make, Trim (CMT) manufacturing capacity.

Managing Director of R and L Apparel, Solis Benjie Dolores, said the support from government has enabled the company to increase its production, improve product quality, create jobs and extend its clientele, which now includes The Foschini Group, which they supply through Celtico, one of the CMT suppliers in the Newcastle clothing industry.

“The funding assisted us greatly in creating additional jobs. We had only 17 workers when we applied for the programme. As of August 2024, we were able to reach a staff complement of 103 employees, 98 of whom are women. As a matter of fact, we are looking forward to achieving the additional 150 jobs that we have committed to,” Dolores said.

“The CTFLGP is a great initiative. The programme opened new doors for our company's growth. Without the funding, we might have just stayed on 17 workers, because our machinery and working capital were very limited. 

“Before we received the funding, we were running a hand-to-mouth operation that was kept going only by the dedication and endeavours of our team.  Now the company is on a positive growth trajectory,” she said. 

Dolores said the company is planning to acquire automated machinery to expand its production capacity based on the market demands, as local retailers are increasingly embracing Proudly South African products.

“We are happy to contribute in import substitution, growing the economy, and more importantly, creating jobs for the local people, both skilled and unskilled, assisting them to earn a decent living,” she said. 

Managing Director of Argento, Joudalle Govender, also bears testimony to the positive impact of the CTFLGP on her company, which is based in Mandeni, KwaZulu-Natal. 

The company manufactures apparel and corporate clothing for a major retailer and numerous corporate clients. 

“We used the funding for operational expenses and to re-tool the factory with new machinery. The funding allowed us to create 45 new jobs. 100 people are currently employed in our company, 80 of whom are women.

"Our profit margins increased and we had a rapid growth in production due to the extra capacity,” Govender said.

She said the company is planning to expand its product lines, adopting sustainable practices, improving its manufacturing efficiency and exploring new markets.

“Our future plans include expanding our current building and creating 100 more jobs. We are also looking into exporting our local garments and creating more awareness on local manufacturing with South Africa,” Govender said.

She emphasises the importance of the Retail-Clothing, Textile, Footwear and Leather (R-CTFL) Masterplan in promoting sustainability and innovation within the industry, which she said  is crucial in adapting to the changing market demands and consumer preferences.

“I love the fact that the plan focuses on several key objectives, such as job creation and increasing local production. Argento is a local champion because we produce our own local fabric in the rural area of Isithebe. 

“My favourite part is that the plan enhances competitiveness in the global market, by fostering collaboration between government, labour, and industry stakeholders. That is important for our economy,” said Govender.

The stories of two companies that operate in the clothing and textile sector undoubtedly illustrate the critical importance of the master plans, and the positive impact of the collaboration between government, business and labour on the South African economy.

According to the Director of Clothing and Leather at the dtic, Dr Jaywant Irkhede, more than R1.87 billion had been approved for 154 businesses employing almost 24 000 people and R1.41 billion was disbursed by July this year. – SAnews.gov.za

Edwin
Thu, 09/12/2024 - 11:03

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Read moreSector master plans critical to investment, boosting exports, creating jobs
11 September 2024

Textile industry remains a priority for government 

Location: News

Textile industry remains a priority for government 

Due to their labour-absorbing character, the textile, clothing, footwear, leather and general goods sectors remain priority sectors for government.

These sectors have always been supported by the Department of Trade, Industry and Competition (the dtic), with an objective to sustain and grow employment, grow output, and enhance their competitiveness.

This is according to the Director of Leather and Footwear at the dtic, Dr Jaywant Irkhede, who was delivering a keynote address at the opening of the AllFashion Sourcing Exhibition held at the Cape Town International Convention Centre. 

A group of manufacturers supported by the dtic are showcasing their proudly South African products at the exhibition.

READ | SA manufacturers to showcase products at the AllFashion Exhibition in Cape Town

The department’s support of the local manufacturers to show off their wares at the exhibition is part of a continuous support to the industry to boost sustainable job creation and to increase exports of locally manufactured products. 

The show which kicked off on Tuesday, also offers the dtic an ideal opportunity to engage with a select audience of textile, clothing, footwear, leather and fashion orientated exhibitors and visitors.

Irkhede highlighted the manufacturing sector’s tenacity, resilience and the know-how that enabled the sector to withstand various internal and external economic shocks. 

One of the measures that government introduced in order to mitigate the negative impact of the external shocks on the clothing and textile industry was the introduction of two trade remedies, namely the imposition of import quota on clothing imports from January 2006 to December 2008 and an increase in tariffs from 40% to the World Trade Organisation bound rate of 45% on a number of clothing product lines. 

These remedies provided some relief.

“The dtic also developed Customised Sector Programmes for Clothing and Textile and Footwear and Leather sectors in consultation with the industry for stabilisation and development of the CTFL (clothing, textile, footwear and leather) sectors. A suite of measures that were introduced as part of the sector programmes contributed immensely in stabilising the sectors and improving their competitiveness,” Irkhede explained.

He said the department was currently in the process of implementing the Retail–Clothing Textile Footwear Leather Masterplan (R-CTFL Masterplan 2030). 

“The R-CTFL Masterplan is aimed at encouraging structural changes in the value chain to grow the domestic market, increase purchases from domestic suppliers, access and grow export markets and enhance value chain competitiveness.

“Its vision is to develop a competitive, sustainable and dynamic R-CTFL value chain that provides its customers with compelling products and that is invested in growing employment and advancing inclusion and transformation,” he explained. 

The masterplan is aimed to grow employment to 330 000 R-CTFL jobs through growing local retail sales to R250 billion, to expand local retail procurement of local CTFL products from 45% to 65%, equalling an increase from R32 billion to R 66 billion in ten years, and to improve competitiveness, technology, skills and transformation.

Irkhede added that to support the Economic Reconstruction and Recovery Plan, the dtic announced a Clothing, Textiles, Footwear and Leather Growth Programme in 2022. 

R2.28 billion was allocated and 154 entities were supported and these employ almost 24 000 people. 

“The programme is well-subscribed, indicating the demand for capital to achieve growth, import substitution, new jobs and transformation,” said Irkhede. – SAnews.gov.za

Edwin
Wed, 09/11/2024 - 09:53

120 views
Read moreTextile industry remains a priority for government 
10 September 2024

TechNvst and Microsoft Join Forces to Launch AI Startups Uhuru Program

Location: MyPR

TechNvst, a prominent innovation commercialization firm based in South Africa, has announced an exciting new collaboration with Microsoft through the African Transformation Office (ATO) to launch the TechNvst AI Startups Uhuru Program. This new initiative is set to transform the landscape for AI-focused startups across Africa by providing them with essential resources and strategic support. …

Read moreTechNvst and Microsoft Join Forces to Launch AI Startups Uhuru Program
9 September 2024

Proudly South African Teams up With FNB, Orapeleng Modutle, Jessica Jane Molebatsi, Mzukisi Mbane, and Ole Ledimo to Search for Local Fashion Supporters

Location: MyPR

Proudly South African is back on the fashion scene with the relaunch of the Local Fashion Police, a consumer-powered campaign championing homegrown talent. This local fashion movement in its 4th year, now in partnership with FNB, is in support of the Retail, Clothing, Textile, Footwear, and Leather (R-CTFL) sector highlighting its significance in creating jobs …

Read moreProudly South African Teams up With FNB, Orapeleng Modutle, Jessica Jane Molebatsi, Mzukisi Mbane, and Ole Ledimo to Search for Local Fashion Supporters
3 September 2024

SA economy grows by 0.4%

Location: News

SA economy grows by 0.4%

South Africa’s Growth Domestic Product (GDP) grew by 0.4% in the second quarter of 2024 with finance, real estate and the business services industry contributing most to the growth.

This is according to Statistics South Africa (Stats SA) which released the GDP results on Tuesday.

“The finance, real estate and business services industry increased by 1.3%, contributing 0.3 of a percentage point to the GDP growth. Increased economic activities were reported for financial intermediation, auxiliary activities, real estate activities and other business services.

“The trade, catering and accommodation industry increased by 1.2%, contributing 0.1 of a percentage point. Increased economic activities were reported for wholesale trade, retail trade and accommodation,” Stats SA said.
According to the institution, manufacturing increased by some 1.1%, “contributing 0.1 of a percentage point”.

“Six of the ten manufacturing divisions reported positive growth rates in the second quarter. The following divisions made the largest positive contributions: motor vehicles, parts and accessories and other transport equipment; food and beverages; and basic iron and steel, non-ferrous metal products, metal products and machinery.

“The electricity, gas and water industry increased by 3.1%, contributing 0.1 of a percentage point. This was largely due to increases in electricity production and consumption, as well as water consumption,” Stats SA explained.

Decreases in transport, storage and communication contributed a -0.2% of a percentage point.

“Decreased economic activities were reported for land transport and transport support services.
“The agriculture, forestry and fishing industry decreased by 2.1%, contributing -0.1 of a percentage point. This was primarily due to decreased economic activities reported for field crops and animal products,” the institution added.

In terms of expenditure on GDP, Stats SA reported that expenditure on GDP grew by 0.5% during 2024’s second quarter after a decrease of some 0.1% in the first quarter.

“Household final consumption expenditure [HFCE] increased by 1.4%, contributing 0.9 of a percentage point to the total growth. The highest growth rates were reported for services and semi-durable goods."

The main positive contributors to the increase in HFCE were expenditures on the ‘other’ category (4.5% and contributing 0.6 of a percentage point), clothing and footwear (3.2% and contributing 0.2 of a percentage point) and food and non-alcoholic beverages (1.2% and contributing 0.2 of a percentage point).

“Final consumption expenditure by general government increased by 1.0%, contributing 0.2 of a percentage point. This was mainly driven by increases in purchases of goods and services and compensation of employees,” Stats SA explained.

A decrease in exports out of South Africa was also noted.

“Net exports contributed negatively to expenditure on GDP. Exports of goods and services decreased by 0.4%, largely influenced by decreased trade in vegetable products; mineral products; vehicles and transport equipment excluding large aircraft; and base metals and articles of base metals.

“Imports of goods and services increased by 1.7%, largely influenced by increased trade in vehicles and transport equipment excluding large aircraft; vegetable products; mineral products; and textiles and textile articles,” Stats SA said. – SAnews.gov.za

NeoB
Tue, 09/03/2024 - 12:06

228 views
Read moreSA economy grows by 0.4%
3 September 2024

With a R3 500 Voucher up for Grabs, Public Voting Is Underway to Decide the Top Store and Eatery at the V&A Waterfront

Location: Entertainment, MyPR

Eager to learn who’ll be the best of the best? That decision is up to you… Between now and midnight on 11 September 2024, you can cast your vote for your favourite store or restaurant in the V&A Waterfront People’s Choice Awards. By doing so, you could win a R3 500 V&A voucher to celebrate …

Read moreWith a R3 500 Voucher up for Grabs, Public Voting Is Underway to Decide the Top Store and Eatery at the V&A Waterfront
2 September 2024

Fuel prices to decrease once again in September

Location: News

Fuel prices to decrease once again in September

All grades of fuel are expected to decrease this week bringing relief to cash strapped South African consumers.

This was announced by the Department of Minerals and Petroleum Resources on Monday.

The price decreases are as follows:
   • Petrol 93 (ULP & LRP): 92 cents decrease
   • Petrol 95 (ULP & LRP): 92 cents decrease
   • Diesel (0.05% sulphur): 79 cents decrease
   • Diesel (0.005% sulphur): R1.05 decrease
   • Illuminating Paraffin (wholesale): R1,03 decrease
   • Single Maximum National Retail Price for illuminating paraffin: R1.38 decrease
   • Maximum LPGas Retail Price: 10 cents decrease

This means that a litre of 95 petrol, which currently costs R23.11 in Gauteng, will now cost  R22.19 cents a litre as of Wednesday.

In a statement on Monday, the department explained the international and local factors leading to the price adjustments for this month.

“The average Brent Crude oil price decreased from 83.55 US Dollars (USD) to 78.54 USD per barrel, during the period under review. The main contributing factors are the increased production from major oil-producing countries despite lower demand concerns, and the anticipated interest rate cuts by the US Federal Reserve.

“The average international petroleum product prices decreased on average during the period under review in line with lower crude oil prices. This led to lower contributions to the Basic Fuel Prices of petrol by 85.59 cents a litre and 78.40 cents a litre, diesel by 93.55 cents a litre and 67.63 cents a litre and illuminating paraffin by 91.86 cents a litre, respectively.

“The Rand appreciated on average, against the US Dollar (from 18.23 to 18.05 Rand per USD) during the period under review when compared to the previous one. This led to lower contributions to the Basic Fuel Prices of all products by over 10.00 cents per litre,” the department said.

The price adjustments are expected to take effect from Wednesday. – SAnews.gov.za

NeoB
Mon, 09/02/2024 - 11:39

549 views
Read moreFuel prices to decrease once again in September
2 September 2024

LG Electronics South Africa Launches Online Store, Ushering in a New Era of Convenient Shopping

Location: Business
LG Electronics

LG Electronics South Africa (www.LG.com/global/) recently took a giant leap into the future of shopping with their online store which will forever change how South Africans buy their favourite tech. This is not just another e-commerce site—it is a bold move, changing the digital landscape and marking a new chapter in LG's South African journey, says Mr Jinkook Kang, Subsidiary President at LG Electronics South Africa.

“Now live at LG.com/za, our online store brings LG's innovative gadgets straight to your fingertips, showcasing our unwavering commitment to putting customers first in ways never before seen in the local market.”

As only the third market in the Middle East and Africa region to launch a brand-specific online store, LG South Africa is pioneering a new era of digital retail excellence. This achievement not only shows LG's status as a technology leader but also shows its commitment to meeting the changing needs of South African consumers.

Mr Kang shared his excitement about the launch: “We did not just open an online store; we are unlocking a portal to the future of retail in South Africa. This platform represents a fusion of LG's pioneering technology with the vibrant spirit of South African consumers. It's more than a shopping destination—it's a digital playground where innovation meets aspiration, where every click brings you closer to experiencing the extraordinary.”

The new e-commerce hub is a treasure trove of LG's most sought-after products, from breathtaking OLED and QNED televisions that redefine visual experiences to futuristic home appliances that transform everyday tasks into moments of joy. Tech enthusiasts can explore an array of state-of-the-art monitors, while eco-conscious shoppers will delight in the energy-efficient air conditioning units.

To celebrate this digital milestone, LG is rolling out the red carpet with an irresistible offer which is music to every shopper's ears. From August 27 to September 30, 2024, if you make an online purchase of R7,000 or more, LG will give you a free LG XBOOM XG2T speaker (http://apo-opa.co/4g5wpAv), valued at R1,199. This limited-time offer is exclusively available through the online store, giving customers more reason to explore LG's digital shop.

But the excitement does not stop there. The company's renowned Premium Service is available for select items bought through the online store. This white-glove treatment includes complimentary delivery, expert installation, and dedicated ongoing support, ensuring that every LG product becomes an integral part of your lifestyle with ease.

LG has created a variety of payment options to meet the different needs of South African consumers. From interest-free instalments to credit alternatives, LG is making premium technology more accessible than ever before.

“We're not just selling products; we're crafting experiences that resonate with the South African spirit,” says Mr. Kang. “Our online store is a digital embodiment of our ‘Life's Good' philosophy—a place where technology enhances life, where innovation meets inspiration, and where every purchase is a step towards a brighter, more connected future.”

As LG Electronics South Africa starts a new digital journey, the company remains committed to its core values of innovation, quality, and customer satisfaction. The online store is more than just a way to sell things. It shows that LG cares about making life better for every South African through easy-to-use, innovative technology.

“This launch is just the beginning of an exciting new chapter,” Mr. Kang concludes. “We're not just reimagining retail; we're redefining the very essence of how South Africans interact with technology. Every click, purchase, and unboxing is a chance to experience something amazing. Welcome to the future of shopping—welcome to the LG online store!”

Visit LG.com/za to explore LG's new online store and experience the future of electronics shopping.

Distributed by APO Group on behalf of LG Electronics.

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LG Electronics
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Read moreLG Electronics South Africa Launches Online Store, Ushering in a New Era of Convenient Shopping
30 August 2024

Navigating the Ivory Tower: Challenges and Triumphs of Women in Leadership in South Africa

Location: MyPR

By Thula Mngoma (Academic – Regent Business School) In South Africa, women aspiring to leadership roles encounter a landscape shaped by historical inequalities and persistent socio-economic challenges. Regent Business School Academic, Thula Mngoma, examines the specific hurdles faced by women, particularly black women, as they strive for leadership positions. She highlights the strategies that have …

Read moreNavigating the Ivory Tower: Challenges and Triumphs of Women in Leadership in South Africa
30 August 2024

Hi-Tec Launches New Store in Somerset

Location: MyPR

The tranquil town of Somerset is now home to a new hub for outdoor enthusiasts, with the recent opening of a new Hi-Tec outdoor apparel store. This new addition marks a significant milestone for both the brand and the local community, catering to the increasing demand for high-quality, performance-oriented gear for outdoor adventures. Nestled in …

Read moreHi-Tec Launches New Store in Somerset
30 August 2024

Chilli Chocolate Chefs: A Culinary Journey of Passion and Perseverance

Location: MyPR

In the heart of Durban, amidst the bustling streets and vibrant culture, lies the culinary haven of Chilli Chocolate Chefs (CCC). The brainchild of sisters Zainab and Faatimah Paruk, CCC is not just a catering company; it is a testament to the power of passion, perseverance, and unwavering determination. This is their story, a journey …

Read moreChilli Chocolate Chefs: A Culinary Journey of Passion and Perseverance
27 August 2024

Beyond Borders: What Powers SA’s Next Wave of Export Success

Location: MyPR

In the post-pandemic world, South Africa’s business landscape is undergoing a transformative shift, particularly in the realm of international exports. Reshaped consumer behaviour opened new avenues for South African businesses to reach global markets, and many South African brands are embracing international shipping as a critical component of their growth strategy. Central to this success …

Read moreBeyond Borders: What Powers SA’s Next Wave of Export Success
26 August 2024

The Versatility of Shipping Containers

Location: MyPR

Shipping containers have evolved far beyond their original use for transporting goods across the world. Today, these sturdy and versatile structures are being repurposed for a wide range of applications, from storage solutions to innovative architectural projects. This article delves into the many uses of shipping containers, the availability of shipping containers for sale, and …

Read moreThe Versatility of Shipping Containers
23 August 2024

Gauteng municipalities to launch online indigent register

Location: News

Gauteng municipalities to launch online indigent register

Gauteng Premier Panyaza Lesufi has announced that an e-indigent register – which will assist to register those who are in need and qualify for free government services – will be launched in municipalities in the province.

He was speaking at the District Development Model (DDM) Presidential Imbizo that is being led by President Cyril Ramaphosa at the Tsakani Stadium in Ekurhuleni, Gauteng.

“There are many people who are unemployed, but they can’t get the benefits of free electricity and water because they are not properly registered so that they can be [classified as] indigent. We have now agreed with all executive mayors in our last lekgotla, we are introducing an e-register from October,” he said on Friday.

The Premier said the register will link up with all of government’s databases and retail stores.

“This is so that whoever is employed, whoever that is hiding their employment, must not benefit for free benefits that are due to our people. In Ekurhuleni in particular…they have introduced a new threshold which does not exclude those who are getting social grants and does not exclude those who are unemployed. 

“What it means is that if you are poor and we have registered you, we have checked the database, you will receive all free services without being asked who you are in all municipalities in our province,” he said.

READ | District Development Model ensures government works as a team 

Lesufi also announced that the provincial government has committed to bringing free WiFi connections to at least 26 townships in Gauteng.

“We are bringing something so important, especially to young people in our province. We have identified 26 townships…to make the townships access reliable, dependable free WiFi, so that all our people are in a position to connect.

“Children of the poor have a right to do their homework at home using free WiFi so they can access these services. The future is no longer about water and electricity only. The future is about data so that those who are unemployed can send their CVs utilising free WiFi,” he said. – SAnews.gov.za

NeoB
Fri, 08/23/2024 - 13:24

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Read moreGauteng municipalities to launch online indigent register
19 August 2024

Shops destroyed by fire in downtown Joburg

Location: News

Ward councillor believes the building had been hijacked

Read moreShops destroyed by fire in downtown Joburg
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