This Week In The News

NEWS IN SHORT

• Shell may seek to raise nearly $1 billion (R17.7 billion) from the sale of its downstream unit in South Africa. It has a network of 600 service stations across the country, according to its website.
  
  
• Data for the end of the first week in September shows a significant over-recovery in prices, exceeding R1 per liter for both petrol and diesel.
  Petrol is showing an over-recovery of between R1.31 and R1.39 per liter,
  while diesel’s over-recovery is between R1.12 and R1.125 per liter.
  These are the early indicators:
  Petrol 93: over-recovery of 131 cents per liter
  Petrol 95: over-recovery of 139 cents per liter
  Diesel 0.05% (wholesale): over-recovery of 112 cents per liter
  Diesel 0.005% (wholesale): over-recovery of 125 cents per liter
  Illuminating paraffin: over-recovery of 118 cents per liter
  
  
• South Africa could have been the biggest player in the global cannabis industry – however, a lack of consolidated plans and enforcement to actualize this, means the country’s R30 billion masterplan is being left to wither and die.
  
  
• The Organization Undoing Tax Abuse (Outa) has called on the Department of Transport (DoT) to cancel the contract for the country’s new driver’s license card printing machine that was awarded to French security company Idemia in August.
  This comes after Outa received evidence indicating that the budget for the printing machine has ballooned from the previously indicated R468 million to as much as R898.597 million, an increase of 92%. (and so, the chronicle continues)

• Chinese brands today account for an impressive 9% of all light vehicles sold in South Africa, a more than four-fold increase from the mere 2% they occupied in 2019.

• South Africa’s controversial R20 billion e-toll gantries are not going anywhere, and they will continue to be used to monitor speeding and detect criminal activity in Gauteng

• The BMW Group has issued a recall for approximately 1.5 million vehicles globally as a result of signaling problems in their integrated braking systems (IBS), including those sold under its Mini and Rolls-Royce sub-brands.
  In South Africa, around 3,700 BMW and Mini vehicles are implicated by this recall, the automaker’s domestic arm confirmed in a statement.

• MG is making its triumphant return to South Africa, following an eightyear absence from the local market.
  The British marque, which has been owned and managed by Chinese company SAIC Motor since 2007, has revealed that it will relaunch in South Africa in the near future with the first dealerships opening their doors before the end of 2024.

• BMW and Toyota plan to make hydrogen powertrains together for use in models from both carmakers. 
  Proponents of fuel cells point to long driving ranges and argue the technology can prove effective in regions where battery-charging infrastructure isn’t strong enough to support a transition to EVs.

• Ford has officially introduced the new Tourneo MPV to South Africa at a starting price of R999,200.
  The eight-seater will initially only be available in a single Trend Long Wheelbase (LWB) specification, with more variants to be added at a later date, the automaker said.
  This includes a 4-year/200,000km warranty and a 4-year/unlimited kilometre roadside assistance plan.

• A staggering two-and-a-half million vehicle owners have used the Road Traffic Management Corporation’s (RTMC) online vehicle licence disc renewal service since its launch in 2022, the entity recently revealed.
  In August 2024, the Natis service saw a tremendous 222,606 applications for an average daily amount of 7,181 renewals.

 

South African car buyers are going green – but not electric.

South African car buyers are increasingly opting for more eco-friendly vehicles, but they are staying away from those running purely on electricity.

Sales data from the new and used sectors indicate that hybrid vehicles (HEVs) are continually gaining traction in the country, whereas battery-electric cars (BEVs) are struggling to appeal to the masses.

This comes amidst a global cooling in demand for BEVs with many automakers reassessing their future strategies concerning the discontinuation of their petrol and diesel models.

 

Toyota Corolla Cross, the most affordable hybrid in South Africa

The Toyota Corolla Cross is the most affordable hybrid in South Africa, promising to save owners thousands of rands over the long term in the form of a reduced petrol bill.

The following table shows how much petrol the hybrid crossover uses compared to the standard model, and how much it will have saved in fuel bills over the course of 1,000km.

The fuel cost is calculated based on the current value of petrol 95 which is sitting at R22.19 per litre as of September 2024.

 

The single Audi RS 6 Avant GT model destined for SA will be auctioned in November

Audi South Africa is thrilled to announce that the single Audi RS 6 Avant GT destined for our market will be sold at an exclusive auction in November.

With only 660 units produced worldwide, Audi SA is privileged to have secured unit 74 for the local market when some countries won’t receive this one-of-a-kind vehicle at all.

This rare masterpiece will be sold through a live auction event, with a portion of the proceeds benefitting a worthy charity (more details on this exciting news will be shared in a later release). The event will be held in Cape Town on 7 November.

 

Warning over invoicing fraud in South Africa - double check your emails. 

The case of ENS v Hawarden emphasizes why it is important for you to take precautions and implement reasonable steps to protect yourselves against cybercrime, as those who are victimized may have no viable recourse to mitigate their loss.

In the case, Hawarden aimed to transfer the purchase price for a property to Edward Nathan Sonnenberg Inc. (ENS). Unfortunately, she was unaware that cybercriminals had compromised her email. As a result, her email exchanges with ENS employees were intercepted, modifying the banking information intended for the purchase payment.

Hawarden proceeded with the payment without confirming the changed details, ultimately sending R5.5 million to the fraudsters’ bank account.

This fraud was only identified after the transaction, by which point the funds were no longer retrievable.
Hawarden took the matter to the High Court, where she was awarded R5.5 million against ENS. However, the Supreme Court of Appeal (SCA) handed down a judgment overturning this High Court ruling and setting aside the order.

The Court took into account multiple factors when considering the issue of wrongfulness including that;
• Hawarden was not a client of ENS;
• There was no contractual relationship nor attorney-client relationship in existence at the time of the incident;
• The loss resulted due to Hawarden’s email account having been hacked;
• Hawarden had been warned about the risk of cybercrime;
• Hawarden had failed to confirm or verify the banking details before making payment.

The Court concluded that although Ms. Hawarden had ample means to protect herself, she had failed to take reasonable steps to mitigate the risk of cybercrime.

 

Prices of goods 1980 vs 2024

The case of ENS v Hawarden emphasizes why it is important for you to take precautions and implement reasonable steps to protect yourselves against cybercrime, as those who are victimized may have no viable recourse to mitigate their loss.