Petrol to increase by 29c/l
The retail price of all grades of petrol will increase by 29 cents per litre on Wednesday May 4, the Department of Energy announced on Thursday.
The price of both 0.05% sulphur diesel and of 0.005% sulphur diesel will increase by 16 cents per litre.
Wholesale paraffin will increase by 15 cents a litre, and the price of illuminating paraffin (SMNRP) will rise by 20 cents per litre.
There will be a 53 cents per kilogram increase in the maximum retail price for LPGAS.
During the period under review, the average international product prices of petrol, diesel and illuminating paraffin increased.
The average rand/US dollar exchange rate strengthened when compared to the previous period.
The average rand/US dollar exchange rate for the period 01 April 2011 to 27 April 2011 was 6.7701 compared to 6.9512 during the previous period.
Petrol 95 ULP octane in Gauteng will now cost 10.25 rand a litre from 9.96 rand before, while at the coast it will cost 9.95 rand per litre compared with 9.66 rand previously.
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FNB Personal Loans
FNB personal loans:
- Get a loan for R2 000 or more depending on your financial profile.
- FNB offers flexible repayment periods from 6 to 60 months. Loan repayment
periods can be negotiated in order to suit what is affordable for you. - Repayments are done via a monthly debit order and your instalment amount
will remain fixed over the loan period, even if interest rates go up. - Your loan is offered with insurance which covers the original loan amount in
the event of death, retrenchment, dread disease as well as
temporary/permanent disability. - You can get a valid quote for 10 days within which you can either accept or
decline the loan offer. - You get to choose either a voice-logged contract or a paper-based contract
that is face to face with our branch consultants in any of our branches. - You get to take a break every January from paying your loan instalment.
- Individuals banking with FNB, will get lower interest rates.
A personal loan is for personal use and this implies that FNB does not dictate what the loan is to be used for. You may access your account and even perform transfers through the following facilities from your FNB transactional account:
-ATMs
-Telephone Banking
-Cellphone Banking
-Online Banking
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Standard Bank personal Loans
Standard Bank personal Loans: Tired of not having enough money to buy the things you want, like buying new furniture, paying for your studies, getting the kids back to school or simply giving your home a fresh coat of paint? Why not get a personal loan from Standard Bank?
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For more information or to apply click here
* Terms and conditions apply
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Pinky Moholi is new Telkom CEO
The Board of Telkom SA Limited has announced the appointment of Ms Nombulelo (Pinky) Moholi as Chief Executive Officer of the telecommunications company with effect from 1 April 2011.
Moholi is an experienced telecoms executive of 23 years in the ICT sector, of which 15 years were in executive management.
After a formative career as an engineer at GEC and Siemens, she joined Telkom in 1994. She spent eleven years at Telkom SA during which she was promoted to several senior positions, including Group Executive: Regulatory Affairs, Managing Executive: International and Wholesale Business, and Chief Sales and Marketing Officer and a member of the Telkom Executive Committee (Exco).
Moholi left Telkom in 2005 to join the Nedbank Group, where she served as the Chief Strategy and Corporate Affairs Officer, and a member of their Executive Committee for just over three years. She rejoined Telkom as the MD of Telkom South Africa in May 2009.
After obtaining her Electrical Engineering degree from the University of Cape Town in 1984, Moholi completed Executive Management Programmes at Stanford and Harvard Universities. She has served as a non-executive director on a number of private and publicly listed companies.
“In appointing the Chief Executive Officer, the Board followed a rigorous evaluation process including international benchmarking and consultation with the Department of Communications, the latter a requirement specified by the company’s articles of association before the expiry of the Class A and B shareholders’ rights on 4 March 2011,” the Telkom board said in a statement.
It added: “The contract of the acting Chief Executive Officer, Mr Jeffrey Hedberg, expires at the end of March 2011. The Board of Directors have requested Mr Hedberg to remain at Telkom in an advisory capacity until the release of the Group’s annual results in June.
“On behalf of shareholders, management and staff, the Board congratulates Ms Moholi on her appointment and wishes her every success in the creation of value for all Telkom stakeholders.”
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Carlos Slim Helu
Carlos Slim Helu: Telecom, Mexico.
Telecom tycoon who pounced on privatization of Mexico’s national telephone company in the 1990s becomes world’s richest person for first time after coming in third place last year. Net worth up $18.5 billion in a year. Recently received regulatory approval to merge his fixed-line assets into American Movil, Latin America’s biggest mobile phone company.
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Cell C loses its Virginity
Cell C is selling its 50 percent shareholding in Virgin Mobile but will continue as network partner, Virgin said on Wednesday.
Virgin Mobile SA’s “board has agreed to a shareholders’ restructuring whereby Cell C will sell its 50 percent stake in Virgin Mobile”, the company said in a statement.
Virgin Group of the UK (Virgin) will increase its stake from 50 to 55 percent.
Calico Investments of the Bahamas (Calico) will acquire the remaining 45 percent stake. Calico, an investment company focused on opportunities in emerging markets and in Africa, would invest more growth capital into Virgin Mobile.
The transaction is still subject to certain conditions including approvals from the Competition Commission and Exchange Control.
It was expected to be finalised by April 2011.
Cell C will continue as Virgin Mobile’s network partner under an updated network services agreement.
Virgin Mobile was launched in 2006.
Cell C is selling its 50 percent shareholding in Virgin Mobile but will continue as network partner, Virgin said on Wednesday.
Virgin Mobile SA’s “board has agreed to a shareholders’ restructuring whereby Cell C will sell its 50 percent stake in Virgin Mobile”, the company said in a statement.
Virgin Group of the UK (Virgin) will increase its stake from 50 to 55 percent.
Calico Investments of the Bahamas (Calico) will acquire the remaining 45 percent stake. Calico, an investment company focused on opportunities in emerging markets and in Africa, would invest more growth capital into Virgin Mobile.
The transaction is still subject to certain conditions including approvals from the Competition Commission and Exchange Control.
It was expected to be finalised by April 2011.
Cell C will continue as Virgin Mobile’s network partner under an updated network services agreement.
Virgin Mobile was launched in 2006.
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MTN spends millions on Rica campaign
Cape Town – Cellular network operator MTN Group [JSE:MTN] said on Wednesday it had invested R140m in its campaign to get subscribers registered in terms of the Regulations for the Interception of Communications Act (Rica).
MTN officials told the National Council of Provinces Committee on Security and Constitutional Affairs that it was planning to spend a further R40m to R50m on Rica campaigns until the June 30 deadline.
In terms of the Rica law, all the network operators have to register their prepaid and contract subscribers with confirmed identification and addresses.
The original deadline was December 31, but this has been extended at the request of network operators to enable registration of customers in rural areas, where literacy and confirmation of addresses is a problem.
The government’s legal representative at Wednesday’s meeting stressed that the deadline would not be extended.
Cell C also made a presentation, saying that 81% of its total subscribers had been registered, including 78% of its contract customers and 91% of its prepaid customers.
The committee refused requests by both Cell C and MTN to have the meeting conducted in camera as confidential and competitive information would be released.
MTN representatives read a letter from the company’s general manager of legal affairs, Graham de Vries, asking for the meeting to be closed as the JSE-listed group was currently in a closed period stretching from January 1 to March 9, when its results were due to be released.
However, written advice from the parliamentary legal adviser read out at the meeting said there were no reasons for it to be closed.
MPs agreed that sensitive information could be handed in separately.
Vodacom Group [JSE:VOD] is still to present and the meeting continues.
Vodacom said it had managed to get 18 million, or 83%, of its subscriber base Rica-compliant. Vodacom head of regulatory affairs Snakes Nyoka said that about 17%, or 3.7 million subscribers still had to be registered. They were split into about 650 000 contract subscribers and the rest prepaid.
Cape Town – Cellular network operator MTN Group [JSE:MTN] said on Wednesday it had invested R140m in its campaign to get subscribers registered in terms of the Regulations for the Interception of Communications Act (Rica).
MTN officials told the National Council of Provinces Committee on Security and Constitutional Affairs that it was planning to spend a further R40m to R50m on Rica campaigns until the June 30 deadline.
In terms of the Rica law, all the network operators have to register their prepaid and contract subscribers with confirmed identification and addresses.
The original deadline was December 31, but this has been extended at the request of network operators to enable registration of customers in rural areas, where literacy and confirmation of addresses is a problem.
The government’s legal representative at Wednesday’s meeting stressed that the deadline would not be extended.
Cell C also made a presentation, saying that 81% of its total subscribers had been registered, including 78% of its contract customers and 91% of its prepaid customers.
The committee refused requests by both Cell C and MTN to have the meeting conducted in camera as confidential and competitive information would be released.
MTN representatives read a letter from the company’s general manager of legal affairs, Graham de Vries, asking for the meeting to be closed as the JSE-listed group was currently in a closed period stretching from January 1 to March 9, when its results were due to be released.
However, written advice from the parliamentary legal adviser read out at the meeting said there were no reasons for it to be closed.
MPs agreed that sensitive information could be handed in separately.
Vodacom Group [JSE:VOD] is still to present and the meeting continues.
Vodacom said it had managed to get 18 million, or 83%, of its subscriber base Rica-compliant. Vodacom head of regulatory affairs Snakes Nyoka said that about 17%, or 3.7 million subscribers still had to be registered. They were split into about 650 000 contract subscribers and the rest prepaid.
I-Net Bridge
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Personal Loan of up to R100 000 with DirectAxis
Personal Loan of up to R100 000 With more than 13 years in the financial services industry in South Africa, we offer a range of benefits and financial assistance that our customers have come to appreciate.
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You’re dealing with an authorised Financial Services Provider. DirectAxis has always promoted responsible lending and is compliant with the National Credit Act, No 34 of 2005. All of our personal loans include our Personal Protection Plan which settles your outstanding loan balance in the event of your death, permanent disability or certain dread diseases. This plan also includes limited cover in the event of temporary disability or retrenchment. You’re free to substitute the Personal Protection Plan with a policy of your choice, provided the cover offered is equivalent.
We try to accommodate all requests, but ultimately your final loan amount will be based on your personal financial profile and subject to credit approval.
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