It is a safe assumption, as fuses have been not allowed as either replacement or new here since the 1960's, and the old fuse boxes are only still allowed to be used until there is any upgrade made, which then requires the new wiring or socket outlet ( original socket outlets would be a 5A socket, the plugs for which are still common, but which are typically now only used for suspended lighting in a ceiling void or for hanging lights under 500W, and the standard now is a 15A outlet) to pass the modern standard, which calls for a circuit breaker and a residual current device. The PVC wiring was made mandatory in the 1960's, so any install with a fuse box would likely have cotton covered wire.
In any case the standard now calls for the earth to be provided by a dedicated wire, not like in the old scheme where the steel conduit was used for earth. thus in any case you will be doing a rewire with 3 cores of cable, though likely you will be replacing the old 4mm cables with 2.5mm cables, so you can fit them still in the steel conduit. Most DCC wire here at the coast will fail insulation test in any case, just from it absorbing water from the humid air. 77% RH and 28.5C at the present here in sunny Durban in the evening.
So, yes, you are making assumptions based on where you stay, not about where this thread is about.
My parents house (that's here in the UK, not SA) was last rewired by the government in the 70s, and it has a fuse box along with PVC wiring, so in the UK, it's perfectly OK to have that combination, along with no requirement to rewire or replace anything.
In Australia,there was a mandatory shift to PVC wiring & a bit later,plugs in the mid to late 1950s,so that anything wired after that time will have basically similar wiring.
The DCC stuff was pretty well non-existent by then,anyway.
Fuse holders were made so that anything other than 10A (lights) or 16A (power) fusewire could not be used.
They are still legal,but modern installations use circuit breakers.