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Plunging currencies, El Niño to delay rate cuts in African economies

Published: 15 May 24

Mounting price pressures from the resurgence of the dollar, foreign-currency crunches and adverse weather conditions are set to lead to delayed and shallower interest-rate cuts for African central banks this year. Over the next three weeks, analysts predict Nigeria, Angola and Zambia, who are still fighting double-digit inflation, will raise interest rates and only start reducing them next year.

Rescue efforts under way at a building collapse site in George, in the Western Cape

Forensic pathologists identify 18 of the 33 deceased in George building collapse

Published: 15 May 24

Forensic Pathology Services have, as at 06:00 on May 15, identified 18 of the workers killed in the collapse of a partially built residential building in George. The death toll has reached 33, while 19 people are still unaccounted for eight days after the building's collapse.

John Deere showcases continued technology, innovation focus

Published: 15 May 24

Equipment manufacturer John Deere South Africa will continue to focus on pursuing innovation on its machines and technology as it looks to strengthen its footprint in Africa. Tasneem Bulbulia tells us more.

$2.2bn pledged to support clean-cooking access in Africa

Published: 14 May 24

Pledges worth $2.2-billion to support clean-cooking access in Africa were made at a summit in France on Tuesday, convened by the International Energy Agency (IEA). It is estimated that more than one-billion people in Africa currently lack access to clean-cooking solutions and instead cook over open fires and basic stoves, using charcoal, wood, agricultural waste, and animal dung as fuel.

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 trend to continue. In its results presentation for the 2024 financial year, where the company highlighted a dividend a share of R1.31 at a 100% payout ratio, in line with market guidance, Equites CEO Andrea Taverna-Turisan said like-for-like rental growth in South Africa for the period was 6.4%.

Dipula reports improved metrics, hones in on solar

Published: 14 May 24

JSE-listed real estate investment trust Dipula Income Fund has reported improved operational and financial metrics, as well as strategic gains in a period that marked the first phase of its new solar PV initiative roll-out for the six months ended February 29. Dipula’s revenue grew by 9% and its net property income by 6%, which the company says highlights efficient operations supported by rental growth.

Organisations call ‘rushed’ NHI Bill an electioneering ploy

Published: 14 May 24

Business Leadership South Africa (BLSA) has again expressed concern about the National Health Insurance (NHI) Bill on the eve of its planned promulgation by President Cyril Ramaphosa’s. Signing the NHI as is into law will discount the significant public comment having been made on the proposed Bill, most of which has found the NHI to be unworkable, economically damaging and contrary to the precepts of the South African Constitution.

Many households in informal settlements remain unelectrified

Salga energy head calls for post-election review of free basic electricity scheme

Published: 14 May 24

The head of energy at the South African Local Government Association (Salga) has called for a review of both the size of the free basic electricity (FBE) allocation as well as the way the grant is assigned, arguing that many indigent households are currently not benefiting from the scheme as intended. Speaking during a roundtable discussion on South Africa’s electrification programme as part of government’s ongoing activities to mark 30 years of democracy, Nhlanhla Ngidi described the current monthly allocation of 50 kWh as “minute” and well below the 300 kWh to 400 kWh that poor households were typically consuming.

LDV to launch bakkie, SUV, MPV and panel van ranges in SA

Published: 14 May 24

Chinese car maker LDV has confirmed that its full range of passenger and commercial vehicles have been given the go-ahead for introduction in the South African market. The company is part of the SAIC automotive group.

The Mandela Peace Prize coin placed underneath the keel

Construction of new TNPA multipurpose vessel kicks off

Published: 14 May 24

A keel-laying ceremony has marked the beginning of construction of a new multipurpose vessel that will increase the marine fleet availability for Transnet National Ports Authority (TNPA) in Cape Town. As the first milestone in the history of a ship, the keel-laying ceremony marks the laying of the large beam around which the hull of the ship will be built.