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Flanagan & Gerard, Vukile acquire Mthatha shopping centre for R800m

Published: 24 Apr 24

Retail property specialist company Flanagan & Gerard Property Group and JSE-listed real estate investment trust Vukile Property Fund have jointly acquired the BT Ngebs City regional shopping centre, in Mthatha, for R800-million and each will hold an equal share. The companies will also undertake major refurbishment at the centre to improve the overall retail experience for customers.

Outa demands information on Sanral, Ceta tenders

Published: 24 Apr 24

Nonprofit watchdog the Organisation Undoing Tax Abuse (Outa) has accused the South African National Roads Agency Limited (Sanral) and the Construction Education and Training Authority (Ceta) of keeping contracts with questionable companies secret, which it says is in line with a government culture of blocking the public from accessing information. Outa has filed complaints against Sanral and Ceta over the entities’ refusal to provide Outa with information requested in terms of the Promotion of ...

TNPA issues RfP for Cape Town port liquid bulk terminal

Published: 24 Apr 24

State-owned Transnet National Ports Authority (TNPA) has issued a request for proposals (RfP) for the appointment of a terminal operator to acquire, operate, maintain, refurbish or build and transfer a liquid bulk terminal over a 25-year concession period at the Port of Cape Town. “The liquid bulk precinct in the Port of Cape Town enables the efficient movement of liquefied cargo across South Africa and beyond, facilitating international trade and ensuring security of supply,” says TNPA Port of Cape Town acting port manager Ophelia Shabane.

Financing African hydrocarbon projects needs a segmented approach

Published: 24 Apr 24

In an era in which raising finance for major hydrocarbons projects was increasingly challenging, the developers of such projects in Africa should consider segmenting them and separately seeking finance for each segment. That advice was given by Africa Finance Corporation Senior Associate Shao Olumide. He was participating in a panel discussion at the 2024 African Refiners and Distributors Association conference, in Cape Town. Globally, investors were moving away from hydrocarbons projects, including fossil fuel refineries, he pointed out. But investors not willing to invest in a refinery itself might very well be prepared to invest in infrastructure ancillary to, but essential for, the operation of the refinery, such as roads, piers and other port or terminal infrastructure.

Image of Maltento's Dominic Malan and Dean Smorenburg

Fly farmer Maltento opens laboratory to expand insect research

Published: 24 Apr 24

Fly farmer Maltento has unveiled a new laboratory at its insect breeding facility in Cape Town. The laboratory has been built to expand Maltento’s research on insect biotechnology, and aims to position the company as a leader in the functional ingredient and sustainability space.

Blue Energy signs 20-year green power deal with wheel manufacturer

Published: 24 Apr 24

Local developer and operator of clean energy infrastructure, Blue Energy Africa, has signed a 20-year deal with Borbet South Africa (SA) for the procurement of power from renewable-energy sources. Founded in 1962 by Peter Wilhelm Borbet, the family-owned company has five locations in Germany, as well as one each in Austria and South Africa, with the latter in Gqeberha.

Defy launches solar-powered off-grid range

Published: 24 Apr 24

Amid the compounding effects of loadshedding in South Africa and increasing concerns about climate change, appliance manufacturer Defy has launched its Solar Off-Grid fridge and freezer range to address local energy challenges. Sabrina Jardim tells us more.

South Africa advised by World Bank on climate insurance, contingency fund options

Published: 24 Apr 24

The World Bank is advising South Africa’s National Treasury on a climate risk strategy after floods in recent years caused billions of dollars of damage. The country may take out climate insurance or establish a contingency fund to deal with major adverse weather events, a person familiar with the matter said, asking not to be identified as a public announcement hasn’t been made. Municipalities could also be incentivised to invest in infrastructure and other measures to reduce the impact of unexpected weather events, the person said.

Acquabox offers sustainable drinking water solutions

Published: 24 Apr 24

Acquabox has extended its water delivery services nationwide, offering a sustainable alternative to traditional bottled water delivery services and enables access to water as piped supply is disrupted. According to Mountain Falls and Acquabox founder Michael Beatham, Acquabox is a viable option amid water shortages to ensure access to clean, quality water for all South Africans, offering water delivery that combines convenience, quality and environmental responsibility.

Red Rocket of South Africa hires Goldman to explore sale option

Published: 24 Apr 24

Red Rocket, a South African independent power provider, hired Goldman Sachs Group to advise on the next steps for the closely held business – including a possible sale. Shareholders of the Cape Town-based company “have decided to explore strategic options,” for the business, CEO Matteo Brambilla said by email.