{"id":836581,"date":"2025-09-02T07:47:22","date_gmt":"2025-09-02T05:47:22","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=836581"},"modified":"2025-09-02T07:47:22","modified_gmt":"2025-09-02T05:47:22","slug":"international-company-forced-to-cut-thousands-of-south-african-jobs-and-relief-for-motorists","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/5-things\/836581\/international-company-forced-to-cut-thousands-of-south-african-jobs-and-relief-for-motorists\/","title":{"rendered":"International company forced to cut thousands of South African jobs, and relief for motorists"},"content":{"rendered":"\n

The rand strengthened<\/a> against a weaker dollar on Monday, following the release of mixed local data.\u00a0<\/p>\n\n\n\n

The rand traded at 17.59 against the dollar, which is approximately 0.3% higher than Friday’s close. <\/p>\n\n\n\n

However, South African manufacturing sentiment declined in August after a brief improvement in July, due to subdued activity and sluggish domestic and export demand, according to a Purchasing Managers Index (PMI) survey. <\/p>\n\n\n\n

On a more positive note, data from the National Automobile Dealers Association (NAAMSA) revealed an 18.7% year-on-year increase in new vehicle sales domestically in August.<\/p>\n\n\n\n

This beat economists’ expectations that sales would slow to 13.9% from 15.6% in July.<\/p>\n\n\n\n

On Tuesday, 2 September, the rand was trading at R17.64 to the dollar, R23.86 to the pound and R20.63 to the euro. Oil was trading slightly lower at $68.43 a barrel.<\/p>\n\n\n\n

Here are five other important things happening in and affecting South Africa today:<\/p>\n\n\n\n

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International company cutting South African jobs:\u00a0<\/strong>Glencore (GLEN.L) said on Monday that a retrenchment process has been initiated at its joint-venture Rustenburg ferrochrome smelter and vanadium operations in South Africa as significant economic pressures continue to impact the businesses. [Reuters<\/a><\/strong>]<\/p>\n\n\n\n

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Petrol price relief:<\/strong>\u00a0The Department of Petroleum and Mineral Resources will adjust fuel prices on 3 September 2025. Despite increased tariffs and OPEC+ output, the rand remained stable, leading to reductions in petrol and diesel prices due to over-recovery in August. [BusinessTech<\/a><\/strong>]<\/p>\n\n\n\n

\n\n\n\n

CEO hires investigator to find whistle blowers:<\/strong>\u00a0The Government Pensions Administration Agency (GPAA) has engaged Nexus Forensic Services to identify staff suspected of leaking confidential information related to alleged corruption, which has cost the agency at least R2 billion in GEPF assets.
[News24<\/a><\/strong>]<\/p>\n\n\n\n

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Two years and R215 million later<\/strong>: Over two years after an explosion damaged Lilian Ngoyi Street and with almost R215 million of public funds spent, the street was finally partially reopened on Monday; however, it still cannot accommodate motorised traffic. [Daily Maverick<\/a><\/strong>]<\/p>\n\n\n\n

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New law shouldn’t stop car sales:<\/strong>\u00a0A driving expert has refuted claims that the Aarto Act will block car sales due to unpaid fines. According to Rob Handfield-Jones of Driving.co.za, fines apply to the individual, not the vehicle, meaning ownership transfers aren\u2019t affected. He described the claims as unverified. [MyBroadband<\/a><\/strong>]<\/p>\n","protected":false},"excerpt":{"rendered":"

Here are five important things happening in South Africa today, Tuesday, 2 September 2025.<\/p>\n","protected":false},"author":92,"featured_media":836585,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20398],"tags":[18993,853],"class_list":["post-836581","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-5-things","tag-5-important-things-happening-in-south-africa-today","tag-south-africa"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/836581","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/92"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=836581"}],"version-history":[{"count":2,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/836581\/revisions"}],"predecessor-version":[{"id":836589,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/836581\/revisions\/836589"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/836585"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=836581"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=836581"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=836581"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}