Cape Town - A roundup of Thursday's top economic and finance reads on Fin24.
Christo Wiese hits Steinhoff with R59bn claim
Companies in Christo Wiese’s Titan Group announced on Thursday they are suing embattled retailer Steinhoff for R59bn.
The claims relate to investments made by Wiese’s Titan Group of Companies in Steinhoff in 2015 and 2016, according to a statement issued by Titan Group.
SA cellphone users will soon be allowed to carry over unused data - Icasa
The Independent Communications Authority of South Africa (Icasa) has announced four new regulations to end-user and subscriber services charters at a briefing in Johannesburg.
Icasa said that while the regulations do not seek to directly or indirectly regulate costs, they improve regulations around data, SMS and voice services
Petrol going up 49c/l in May
The price of petrol will increase by 49 cents a litre on Wednesday May 2, Minister of Energy Jeff Radebe announced on Thursday afternoon. Diesel (0.05% sulphur) will increase by 59c/l, while diesel (0.005% sulphur) will go up 58c/l.
The main reason for the fuel price adjustments, according to a statement by Radebe, is the rand/dollar exchange rate.
Eskom: 'Electricity grid is stable'
State power utility Eskom told Parliament that the country's electricity grid is "stable", as South Africa heads into the winter months when electricity usage increases.
At a briefing before the standing committee on appropriations on Thursday, Eskom board member Neli Magubane addressed concerns that the electricity system is constrained and that there may be a possibility of load shedding.
"Some media reports talk of a constrained system and are asking questions of load shedding. We would like to state the electricity grid is stable," she told the committee.
Home loan approval highest in 10 years - ooba
Banks are showing an increased appetite to lend money, according to Rhys Dyer, CEO of home loan originator ooba.
"Consumers appear to be managing their debt much better and the current low interest rate lending environment, coupled with slower growth in property prices, means getting a bond for your home is a great deal more affordable now than it was 12 months ago," said Dyer.
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