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Death toll in George building collapse rises to 27
Published: 13 May 24
The George municipality has reported that, as at 15:00 on May 13, 25 people still remain unaccounted for following last week's building collapse. The death toll has risen to 27, while 13 people remain in hospital.
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Contractors, sub-contractors battling as late payments accelerate – MBA North
Published: 13 May 24
The construction industry value-chain is at risk of collapsing as shrinking margins, unfair practices and payment issues continue to undermine the sector. This is according to members of the Master Builders Association (MBA) North, who warn that “urgent dialogue and change” are needed to address industry issues and avoid further job losses and bankruptcies.
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Raubex sees 28% bounce in its order book despite challenging environment
Published: 13 May 24
Raubex saw a 28% jump in its order book for the financial year ended February 29, to R25.55-billion, compared with R20-billion in the previous financial year. “This is testimony to our diversified business model,” said CEO Felicia Msiza on Monday as the group released its financial results.
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Ramaphosa denies pre-election loadshedding respite is a ‘political ploy’
Published: 13 May 24
President Cyril Ramaphosa has entered the politically charged discussion on the reasons behind the recent dramatic reduction in loadshedding ahead of what is expected to be a highly competition election and amid allegations that the reprieve is being staged managed to improve the governing party’s prospects and will, thus, not be sustained. Writing in his weekly newsletter at a time which Eskom had refrained from implementing the unpopular rotational power cuts for a period of more than a month and a half, Ramaphosa denied that it was a “political ploy ahead of the elections”, while indicating that it was “too early to say that loadshedding has been brought to an end”.
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Vodacom FY earnings dip on challenges, revenue up
Published: 13 May 24
JSE-listed Vodacom Group on Monday posted double-digit increases in revenue, however, its earnings a share for the year ended March 31, 2024, declined. The group reported a 11.2% decrease in earnings a share to 842c, along with a 10.8% decline in headline earnings a share to 846c during the year under review.
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South Africa must create a business-friendly environment to attract foreign investment
Published: 13 May 24
Business organisation Business Leadership South Africa CEO Busiswe Mavuso writes in her latest weekly newsletter that the withdrawal of foreign investment seems to be “dominating” at present. She avers that while foreign investment in South Africa hinges on many factors, including global strategies and the country’s links to the rest of the world. The more attractive a country is, the more investment it receives.
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Traxtion refurbishes, adds 5 Transnet class 39 locomotives to fleet of 60 in eight African countries
Published: 10 May 24
Private rail operator and services company Traxtion has refurbished five class 39 locomotives it bought from State-owned Transnet at its workshop in Rosslyn, Gauteng. This is part of its fleet expansion to meet the growing demand of freight rail services in Africa. "Traxtion is preparing for the next phase of adding new locomotives to the fleet. We now have a fleet of 60 locomotives and are operating in eight African countries," the company said in a statement this week.
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Logistics, NEVs in focus for next phase of automotive industry growth
Published: 10 May 24
Efficient logistics to move vehicles and automotive components up and down the value chain and adapting the local industry to new energy vehicles (NEVs) is crucial to shape the trajectory of the industry into the future, industry development agency Automotive Industry Development Centre (AIDC) chairperson Meloney van Eck said this week. Speaking at a Gauteng government- and AIDC-hosted automotive industry roundtable discussion, in Midrand, on May 9, she said it was important for industry leaders and experts to discuss logistics in the automotive sector and to explore the growing NEV landscape to shape the way forward for the industry.
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South Africa to host twelfth Africa Aerospace and Defence exhibition in Sept
Published: 10 May 24
The Africa Aerospace and Defence (AAD) trade exhibition and air show will be held from September 18 to 22 at Air Force Base Waterkloof, under the theme of ‘Exploring new paths, sharing solutions, showcasing innovation and capability’. More than half of the available exhibition space has already been booked and confirmed, which reflects a significant vote of confidence in the event that has continued to record success, the AAD said in a statement.
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AFC-led consortium financing large-scale road infrastructure development in Angola
Published: 10 May 24
The Africa Finance Corporation (AFC) announced on Friday the signing of a €381.5-million financing package for road transport infrastructure development in Angola. The AFC, founded in 2007, serves to catalyse private sector-led infrastructure development across Africa. This latest financing package will fund the engineering, procurement and building of 186 bridges for, plus other essential enhancements to, Angola’s road network. The AFC was mandated to be the lead investor for the commercial tranche of the package, and has committed itself to contribute €85-million to the total. Export credit financing for the construction programme is being provided by the US Export-Import Bank and the US Private Export Funding Corporation. The key role of coordinating and structuring bank is being fulfilled by Standard Chartered Bank.
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Published: 10 May 24
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Published: 10 May 24
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Published: 10 May 24
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Equites reports sustained growth in rentals market
Published: 14 May 24
Real estate investment trust Equites Property Fund has reported sustained growth in its rental portfolio over the past few years and expects this...
Mining production, sales drop in March
Published: 14 May 24
Mining production decreased by 5.8% year-on-year in March, Statistics South (Stats SA) reports. The largest negative contributors were coal (-9.1%...
