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Major Canadian airline will have connectivity to South Africa, via the UK, in a few months
Published: 11 Jun 24
With effect from this upcoming southern summer/northern winter season, major Canadian airline WestJet (so-called because it is based in Western Canada) will be selling tickets to passengers for flights to both Cape Town and Johannesburg, among other destinations in Africa and Asia. This is the result of an expanded codeshare agreement that the carrier has signed with UK airline Virgin Atlantic. “Through the expansion of our existing partnership with Virgin Atlantic, we are unlocking amazing opportunities for our guests to access an extensive list of new destinations and to experience Virgin Atlantic’s innovative products and services beyond London,” highlighted WestJet Executive VP and COO John Weatherill. “With daily flights from our global hub in Calgary to London, Canadians have never had better international access from across Western Canada to the United Kingdom and beyond.”
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Greeff resigns as EOH CFO
Published: 11 Jun 24
JSE-listed information and communications technology services company EOH Group's CFO Marialet Greeff has resigned and will step down from her position with effect from September 30 to pursue other interests. EOH's board has started a process to identify an appropriate successor and will advise shareholders on the appointment of a new group FD in due course.
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Global growth will not exceed pre-pandemic levels until 2026 at least – World Bank
Published: 11 Jun 24
The World Bank expects the global economy to stabilise for the first time in three years, but at a level that is still weak by historical standards.
In its latest ‘Global Economic Prospects’ report, the World Bank says global growth will reach 2.6% this year and 2.7% in 2025 and 2026, compared with the 3.1% average in the decade before Covid-19.
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Manufacturing production up 5.3% y/y in April
Published: 11 Jun 24
South Africa’s manufacturing production increased by 5.3% year-on-year in April, Statistics South Africa (Stats SA) has reported. Stats SA Industry statistics director Nicolai Carson said on June 11 that, out of the ten manufacturing divisions, nine showed positive growth.
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L2D reports sustainable operational performance on retail assets
Published: 11 Jun 24
Despite the current economic climate presenting slowing growth, characterised by high inflationary pressure, increasing costs of property rates, the lack of delivery of basic utilities such as electricity and water, as well as consumer pressure, real estate investment trust Liberty Two Degrees (L2D) says its assets continue to “stand out”. L2D reports that its retail assets delivered “market leading” trading performance.
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City of Cape Town hits apartment building developer with R1m fine
Published: 11 Jun 24
Cape Town Mayor Geordin Hill-Lewis has upheld a decision by the city’s Municipal Planning Tribunal to impose a record R1-million penalty for unauthorised building work. The penalty relates to a developer, named as Steven Kampies, constructing a 22-unit apartment building where only a single dwelling is permitted.
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Explosion at Quantum Foods feed mill kills one, injures two
Published: 11 Jun 24
An explosion at Quantum Food’s Malmesbury feed mill on June 10 resulted in the injury of three individuals, one of whom subsequently succumbed to his or her injuries. The two other injured individuals sustained serious injuries and are receiving treatment but are in a stable condition, the company reported on June 11.
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South Africa’s climate focus needs to shift from setting targets to tangible results – Moosa
Published: 11 Jun 24
South Africa is now entering a new and more demanding phase of climate action, Presidential Climate Commission (PCC) deputy chairperson Valli Moosa asserts, stressing that the focus is not only on setting targets but on delivering tangible results. His statement follows the publication of the inaugural ‘South African State of Climate Action Report’, which finds that South Africa commitments to tackling climate change and facilitating a just transition are being hindered by incoherent policies, weak governance structures, and inconsistent actions by government and other stakeholders.
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Solar PV panels rolled out at 150 Engen fuel stations in Southern Africa
Published: 11 Jun 24
Solar power provider SolarSaver, which serves as fuel retailer Engen's official solar provider, has installed solar PV systems at 150 Engen Petroleum fuel stations across Botswana, Namibia and South Africa. The installations, with a combined capacity of nearly 6.59 MW, will produce 12.2-million kilowatt-hours of electricity during the first year of operation.
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Sacci records dip in BCI over April, May as elections unfolded
Published: 11 Jun 24
The South African Chamber of Commerce and Industry (Sacci) says the lead up to the national and provincial elections on May 29 had a notable effect on business confidence during April and May, with the Business Confidence Index (BCI) having dropped by 5.8 points in April to 108.9 and further to 107.8 in May.
The recovery of the 6.9-point decrease over the two months will largely depend on the formation of a new government.
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