United States imposes visa restrictions against South Africans involved in racial discrimination, and a plan to fix high petrol prices

The City of Cape Town’s solution to address the high accident rate on Kloof Nek Road in the CBD is seeing positive results with a high compliance rate from motorists.

Kloof Nek is one of the steepest roads in the city and has witnessed several accidents over the years, often involving heavy trucks experiencing brake failures.

In response, Cape Town’s management has installed a new compulsory heavy vehicle stop on the downhill side, requiring other motorists to shift to a different lane.

Cape Town’s Mayoral Committee Member for Urban Mobility, Councillor Rob Quintas, said that the new measures have been highly effective.

Cameras along the route observed an 83% compliance rate from truck drivers. The City also plans to install a permanent camera to enforce the stop.

Oil prices are now trading at $108 per barrel of Brent Crude. Saudi Arabia is increasing spot sales of crude outside of the Strait of Hormuz following the shutdown of a major oil pipeline.

The pipeline was closed due to the risk factor posed by attacks from Iranian-backed Houthi rebels in the region. It is unknown when the pipeline will be reopened.

The rand’s value dropped against the US dollar, increasing from R16.13 to R16.23 per USD due to the high oil prices caused by the Iran war.

5 important things

South Africa’s plan to fix high petrol prices: The South African government is proceeding with its plan to review the nation’s fuel price formula to reduce the cost for motorists. Minister of Mineral and Petroleum Resources, Gwede Mantashe, previously said that petrol should only cost R14 per litre and that it has been distorted by taxes like the General Fuel Levy and Road Accident Fund Levy. [TopAuto]

United States imposes new visa restrictions on South Africa: The US has announced a new visa restriction policy against people involved in race-based discrimination, inciting violence, and uncompensated land seizures in South Africa. [Newsday]

Airports in South Africa likely to be hacked: Airports Company South Africa acknowledged that a cyber threat risk remains relatively high. It said that its inadequate security governance, information security management system, and human resource capacity contributed to its cybersecurity risk.[MyBroadband].

The Chinese car brand selling more cars than Mercedes and Mazda in South Africa: Two years after making its local debut, Jetour is now one of the top 10 best-selling car brands, putting pressure on legacy badges like Mazda, Nissan, Honda, BMW, and Mercedes-Benz. [Daily Investor].

China to address bloated car market: China is looking to rein in overcapacity across its dozens of car brands. The People’s Republic now has the capacity to build 55 million cars per year, outpacing local and even international demand. [Bloomberg].