'The next petrol price increase will be more than R1'

Deputy Editor at Financial Mail, Sikonathi Mantshantsha says the next petrol price increase will be more than R1.

He says there will be no subsidy from government as Minister of Energy Jeff Radebe has already spent the surplus R500 million.

In other news, Matshantsha says Transnet CEO Siyabonga Gama "will be yesterday's news by next week" as he will no longer be the CEO of Transnet.

Gama was suspended in the wake of an investigation report into the awarding of a Chinese contract. The contract expanded from R38.6bn to R54.5bn to China South Rail for 1064 locomotives, with kickbacks allegedly flowing to Gupta associates.

The board is working very hard to terminate his contract, all for state capture...

Sikonathi Mantshantsha, deputy editor at Financial Mail

To hear the rest of the conversation with Sikonathi Mantshantsha,listen below:


Recommended

by NEWSROOM AI
Read More
Petrol price to rise by 5 cents

Petrol price to rise by 5 cents

There is no price increase for diesel or illuminating paraffin.

Petrol predicted to hit R19 by end of 2018

Petrol predicted to hit R19 by end of 2018

Deputy editor at Finacial Mail Sikonathi Mantshantsha says he is expecting energy minister to announce 17 cents petrol increase.

Global fuel prices unchanged. But in SA it becomes more expensive than ever

Global fuel prices unchanged. But in SA it becomes more expensive than ever

Petrol will cost more than R16 a litre in September for the first time ever. Bruce Whitfield interviews the AA's Layton Beard.

Where to invest if you believe the rise of Electric Vehicles is inevitable

Where to invest if you believe the rise of Electric Vehicles is inevitable

Glencore, Google and Continental... that's where! Anglo American Platinum? Not so much, says Old Mutual's Andrew Dittberner.

Deregulating fuel price could lead to massive job losses

Deregulating fuel price could lead to massive job losses

Energy Deputy Director-General Tseliso Maqubela says tampering with the fuel levy means looking at other pricing elements.

[LISTEN] Transnet CEO expected to file reasons why he should not be suspended

[LISTEN] Transnet CEO expected to file reasons why he should not be suspended

CEO Siyabonga Gama, CPO Thamsanqa Jiyane and supply chain manager Lindiwe Mdletshe were served with notices on Wednesday.

Transnet CEO Siyabonga Gama served with suspension notice

Transnet CEO Siyabonga Gama served with suspension notice

The Money Show’s Bruce Whitfield interviews Pieter du Toit, the assistant editor at News24.

Sun International wins bid to market The Blue Train abroad

Sun International wins bid to market The Blue Train abroad

Transnet announced Sun International as the winning bidder to develop and implement a marketing strategy for The Blue Train.

Popular articles
Charity loses R39k event deposit after previous Ritz Hotel management goes awol

Charity loses R39k event deposit after previous Ritz Hotel management goes awol

The Ritz Hotel is under new management and the money paid to previous management has still not been refunded.

DStv Premium on a downward spiral, warns tech guru

DStv Premium on a downward spiral, warns tech guru

DStv has lost about 140 000 Premium subscribers to Netflix over the past two years, tech expert Arthur Goldstuck.

Athol Trollip: We respect the court's judgment

Athol Trollip: We respect the court's judgment

Trollip says the DA respects that NMB has a new government, saying that he has learned fundamental lessons about coalitions.

Breaking down Polycystic Ovarian Syndrome

Breaking down Polycystic Ovarian Syndrome

Lalla Hirayama is on a national awareness campaign to bring attention to Polycystic Ovarian Syndrome in South Africa.

Don't blame racism on illness says Eusebius

Don't blame racism on illness says Eusebius

Eusebius McKaiser says it is not unethical for the media to accurately quote the word k***ir if it was used by someone.

Key things to consider ahead of your retirement

Key things to consider ahead of your retirement

If you’re a baby boomer on the brink of retirement, here are a few things to consider ahead of time.