SA Money Daily | DMRE rejects Eskom's bid for diesel licence

Chicken supply crunch: Nando's, Steers owner also hit by load shedding woes

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The biggest business, economic and market news of the day.

AHMED AREFF, NEWS24 BUSINESS DEPUTY EDITOR

The department of mineral resources and energy (DMRE) has rejected Eskom's application for a diesel wholesale licence.


Eskom applied for the licence to import its own fuel so that it could buy diesel at the basic fuel price – instead of the wholesale price. This would reduce the price from about R23 per litre to around R16, according to outgoing CEO André de Ruyter.


The licence would have saved Eskom around R3 billion on fuel costs over the past year or so.
 

Eskom currently relies mainly on PetroSA for diesel to supply its open-cycle gas turbines, which often play a critical role in buffering South Africa from more adverse stages of load shedding.

Chicken supply crunch: Nando's, Steers owner also hit by load shedding woes

As KFC wrestles chicken shortages that saw it temporarily close some of its outlets, top fast-food chains Famous Brands and Nando's say they are also battling supply chain crunches courtesy of unrelenting load shedding.

Saftu president in Numsa's crosshairs as union moves to discipline her

SA Federation of Trade Unions president Ruth Ntlokotse was informed by the National Union of Metalworkers of SA that it would proceed with a disciplinary hearing against her for misconduct.
For subscribers

WesBank ditches franchise business for 'strategic reasons'

Vehicle finance and insurance company WesBank has abruptly and with little explanation "ceased ownership" of InspectaCar - one of South Africa's only turnkey used car dealership franchisors.

41 flights hit by refuelling problem at OR Tambo on Thursday

Airports Company South Africa says that refuelling challenges resulted in delays for domestic and international departures on Thursday.
For subscribers

As more frequent pandemics are expected, insurers face difficult choices

Group risk premiums have already rocketed.

Huawei declares 'business as usual' after weathering US blow

Huawei posted its third straight quarter of growth, declaring a return to normalcy after overcoming a plethora of US restrictions this year.

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