{"id":840842,"date":"2025-10-24T07:45:00","date_gmt":"2025-10-24T05:45:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=840842"},"modified":"2025-10-24T07:34:42","modified_gmt":"2025-10-24T05:34:42","slug":"major-blow-to-petrol-station-owner-and-another-threat-to-electricity-prices-in-south-africa","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/5-things\/840842\/major-blow-to-petrol-station-owner-and-another-threat-to-electricity-prices-in-south-africa\/","title":{"rendered":"Major blow to petrol station owner, and another threat to electricity prices in South Africa"},"content":{"rendered":"\n

The rand strengthened on Thursday after losing ground in the previous days, as investors awaited news on South Africa’s potential removal from the Financial Action Task Force’s (FATF) grey list.\u00a0<\/p>\n\n\n\n

The rand traded at 17.31 against the dollar, reflecting an increase of about 0.6% from its previous close. <\/p>\n\n\n\n

The commodity-backed currency had fallen on Wednesday following a correction in precious metal prices, including gold, as traders took profits ahead of US inflation data expected on Friday. <\/p>\n\n\n\n

An uptick in domestic inflation to 3.4% in September, up from 3.3% in August, also contributed to the rand’s weakness. <\/p>\n\n\n\n

However, analysts suggest that the currency will receive a boost in the medium to long term if South Africa is removed from the FATF’s grey list.<\/p>\n\n\n\n

South Africa was added to this list in February 2023 due to criticism of its systems aimed at preventing money laundering and terrorist financing. On the Johannesburg Stock Exchange, the Top-40 index was last reported to be up by 1.7%.<\/p>\n\n\n\n

On Friday, 24 October, the rand was trading at R17.34 to the dollar, R23.10 to the pound and R20.13 to the euro. Oil was trading slightly lower at $65.71 a barrel.<\/p>\n\n\n\n

5 important things happening in South Africa today<\/h2>\n\n\n\n
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TotalEnergies convicted of misleading the public:\u00a0<\/strong>A French court ruled that TotalEnergies engaged in “misleading commercial practices” by overstating its climate pledges, ordering the company to remove certain claims. Activists noted this as a landmark ruling against a major oil company for climate misinformation. This decision follows a ruling last year by South Africa’s advertising watchdog against TotalEnergies for misleading claims about its commitment to sustainable development. [News24<\/a><\/strong>]<\/p>\n\n\n\n

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Threat to electricity prices in South Africa:<\/strong>\u00a0Experts warn that the high load factor for gas generation in the government’s Integrated Resource Plan (IRP) 2025 will increase electricity tariffs. This follows the recent cabinet approval of a long-term electricity generation plan, detailed by Minister of Electricity and Energy Kgosientsho Ramokgopa at a media briefing. The full plan will be published in the Government Gazette on 24 October. [Moneyweb<\/a><\/strong>]<\/p>\n\n\n\n

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The Kruger National Park here to stay:<\/strong>\u00a0The Department of Forestry, Fisheries and the Environment (DFFE) has confirmed that no name change has been authorised for the Kruger National Park, and the Minister has no intention of ever approving such. [Newsday<\/a><\/strong><\/strong>]<\/p>\n\n\n\n

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SARS warning to taxpayers:<\/strong> The South African Revenue Service (SARS) and Tax Consulting SA have warned taxpayers about fraudulent “final demand” letters. With tax season closing for non-provisional taxpayers, fraud is on the rise. Taxpayers who missed the filing deadline or have unresolved tax issues are being targeted by fake letters from SARS claiming to be final demands or court summonses. [BusinessTech<\/a><\/strong>]<\/p>\n\n\n\n

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Chinese car brand has big plans for South Africa:<\/strong>\u00a0Chinese carmaker Changan plans to open 25 dealerships by the end of 2025, with the goal of expanding to 45 dealerships by 2027. The company expects to create up to 600 jobs in South Africa over the next two years as it launches operations in the country through its distributor, Jameel Motors SA. [Business Day<\/a><\/strong>]<\/p>\n","protected":false},"excerpt":{"rendered":"

Here are 5 important things happening in South Africa today, Friday, 24 October 2025.<\/p>\n","protected":false},"author":92,"featured_media":729525,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20398],"tags":[18993,853],"class_list":["post-840842","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\/840842","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=840842"}],"version-history":[{"count":2,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/840842\/revisions"}],"predecessor-version":[{"id":840846,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/840842\/revisions\/840846"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/729525"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=840842"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=840842"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=840842"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}