'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:


This article first appeared on CapeTalk : 'The next petrol price increase will be more than R1'


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