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New Mpumalanga mall set to spur growth in the area

By: Tasneem Bulbulia     19th October 2018 The R240-million Thulamahashe Mall, in Mpumalanga, a new development between partners Nthwese Developments and Twin City, is set to open on October 25, and is expected to create an economic upswing in the rural area, says Nthwese Developments MD Seabelo Theledi. The development has a gross... 

Ramaphosa orders inquiry at State pension fund

By: Reuters     18th October 2018 President Cyril Ramaphosa on Wednesday appointed a judicial inquiry into the R2-trillion State pension fund, a government gazette said, following corruption allegations. The PIC is Africa's biggest pension fund and the biggest investor in South Africa's economy holding a large volume of bonds... 

Steel Awards showcase resilience, workmanship in South African steel industry

By: Simone Liedtke     12th October 2018 South African Institute of Steel Construction (SAISC) CEO Paolo Trinchero believes the industry continues to produce “outstanding work, [which] demonstrates its capability and expertise”. Speaking at its yearly Steel Awards function on Thursday evening, he said there was continued perseverance in... 

Fairvest maintains solid results for FY18

By: Simone Liedtke     4th September 2018 South African real estate investment trust Fairvest Property on Tuesday announced solid results for the year ended June 30, with annual distributions increasing by just over 9.9% to 20.15c a share. Fairvest continues to deliver sector-beating growth in distributions, while advancing the portfolio... 

New bridge to improve access to Brackengate 2 logistics park

By: Creamer Media Reporter      24th August 2018 JSE-listed diversified real estate investment trust (Reit) Redefine Properties and VDMV Property Group on Friday officially opened the newly improved Cilmor road bridge over the R300. The bridge, which was completed in August, was built at a cost of R27-million and is expected to further improve... 

Octodec uplifts Tshwane CBD

By: Marleny Arnoldi     3rd August 2018 JSE listed real estate investment trust (Reit) Octodec has uplifted the Tshwane central business district (CBD) with various residential, commercial, office and retail developments, with the aim of providing safe, clean and productive environments for the citizens of the city. The latest... 

Food producer Libstar bets on yoghurt to boost market share

By: Reuters     14th June 2018 South Africa's Libstar Holdings is launching a new range of yoghurt in a bid to gain market share from French group Danone and local leader Clover Industries in the country's competitive dairy sector. The new yoghurt ranges and shakes, traded by Libstar unit Lancewood will be launched by July, CE... 

Dipula reports solid H1 financial results, expects FY dividend growth

By: Marleny Arnoldi     21st May 2018 Real estate investment trust (Reit) Dipula Income Fund achieved an 11.5% year-on-year increase in distributable earnings to R216.4-million for the six months to February 28.  

Libstar lists on JSE

By: Marleny Arnoldi     9th May 2018 Consumer packaged goods producer and supplier Libstar on Wednesday started trading on the main board of the JSE, in the food products sector.  

Fairvest’s interim distributions increase 9.53% y/y

By: Anine Kilian     1st March 2018 JSE-listed real estate investment trust Fairvest announced solid results for the six months ended December 31, 2017, with interim distributions having increased by 9.53% year-on-year to 9.81c a share.   Revenue increased by 15.2% year-on-year to R186.9-million. 

Competition Tribunal dismisses Massmart complaint

By: Anine Kilian     13th February 2018 The Competition Tribunal has dismissed a complaint by Walmart-owned Massmart that exclusivity agreements between other retailers and landlords are excluding its Game stores from selling fresh grocery products. The Tribunal, for a second time, on Tuesday upheld arguments made by Shoprite Checkers,... 

Steinhoff investor Wiese sells part of Shoprite stake

By: Reuters     21st December 2017 South African investor Christo Wiese has sold an additional R1.1 billion of shares in supermarket group Shoprite, exchange filings showed on Thursday, after his exposure to scandal-hit retailer Steinhoff dented his fortune. More than $14-billion of shareholder value has been wiped off Steinhoff... 

Wiese resigns as Steinhoff chairperson in wake of accounting scandal

By: Reuters     15th December 2017 South African tycoon Christo Wiese resigned on Thursday as chairperson of Steinhoff, the latest setback for the retail group in the throes of an accounting scandal. Once a must-have for investors who backed its reinvention from small furniture outfit into a retail empire, Steinhoff has seen its... 

Novare opens two new malls in sub-Saharan Africa

By: Megan van Wyngaardt     15th December 2017 Private equity fund Novare Fund Manager, which invests in retail and commercial real estate in sub-Saharan Africa, excluding South Africa, opened over 34 000 m2 of prime retail space over the last two weeks in Nigeria and Mozambique. Novare Gateway – a modern lifestyle centre of 15 000 m2... 

New Diepsloot mall opened to address access to community-specific retail requirements

By: Dylan Slater     23rd November 2017 A new 18 000 m² single-level semi-enclosed shopping mall in Diepsloot West, Gauteng, opened to the public on Thursday. 

Octodec delivers muted FY17 results

By: Natasha Odendaal     31st October 2017 JSE-listed real estate investment trust (Reit) Octodec Investments on Tuesday posted a muted 0.8% growth in distribution for the 2017 financial year, in part owing to a sluggish economy and a more difficult second half. Despite a strong start in the first half of the year, a weak second half... 

Fairvest FY17 distributions up 10% y/y

By: Anine Kilian     5th September 2017 JSE-listed real estate investment trust Fairvest Property has grown its distributions by 10.04% year-on-year to 18.33c a share for the financial year ended June 30, exceeding market guidance. Distribution growth has been higher than 10% for the fourth consecutive year.  

Competition body conducting probe into township economy 

By: Sydney Majoko     4th August 2017 Competition Commission investigation into Township Economy More than two years ago, we had the so-called xenophobic attacks directed at foreign nationals in the country, but with a specific interest on their businesses in the townships. It was not the first time this happened and certainly was... 

Octodec reports strong H1 growth, sets sights on geographic diversification 

By: Megan van Wyngaardt     2nd May 2017 JSE-listed real estate investment trust (Reit) Octodec achieved distribution growth of 6.5% year-on-year to 104.8c a share for the six months to February 28, despite low domestic economic growth. FD Anthony Stein told Engineering News Online that the strong distribution growth was underpinned by... 

Portfolio committee disappointed in retailer no-show at meeting to discuss poultry prices

By: Creamer Media Reporter      2nd May 2017 Parliament’s Portfolio Committee on Trade and Industry on Tuesday said it was considering summoning retailers using the Rules of Parliament, after several retailers did not attend a meeting to provide insights on how pricing and mark-ups of poultry products occur in their companies. Some of the... 

Atterbury to open new Ghana mall in April

By: Megan van Wyngaardt     24th March 2017 South African property development company Atterbury will open its fourth retail development in Ghana, the $95-million Kumasi City mall on April 20. The 18 500 m2 modern mall, with potential for a future 10 000 m2 expansion, will give the city of Kumasi its first one-stop building with shopping... 

Truck, trailer company increases sales, targets improved output

By: Mia Breytenbach     20th November 2015 Multimillion-rand facility expansions, the improvement of quality and service, and additional orders from new clients are key to the 18% sales growth registered this year by truck and trailer body building company Serco, states MD Clinton Holcroft. This growth took place in local and neighbouring... 

Woman named first regional winner of Western Cape farmworker competition

By: Tracy Hancock     3rd August 2015 Lien Visage, a community development worker at Donkerbos, near Rietfontein, has won the Witzenberg regional of the 2015 Farmworker of the Year competition, an initiative celebrating excellence in the Western Cape’s agricultural sector. “South Africa has earned a reputation for delivering... 

Township property boom presents business opportunities

By: Sydney Majoko     26th June 2015 Residential property prices in the South African economy have, in general, outperformed inflation in the last couple of years. Interestingly, though, while this growth is generally levelling off in the rest of the market, township residential property prices have confounded market conditions and... 

SA companies not pulling out of Africa amid xeno threats

By: News24Wire      21st April 2015 SA mining companies in Zimbabwe and several other Africa operations have not been targeted by the wave of retaliatory action over the recent xenophobic attacks in Durban and Johannesburg. Officials and sources at most mining companies in Zimbabwe and executives from the chamber of mines said as... 

Corporate entrepreneurship and innovation - twin forces for growth and prosperity in difficult times

14th April 2015 With South African business facing the challenges posed by energy shortages, dwindling levels of  consumer spending and reducing margins, there has never been more demand for ‘corporate entrepreneurs’ - particularly in businesses that have annual turnovers of between R300 million and R1.2... 

Botshabelo Mall project, South Africa

By: Sheila Barradas     27th March 2015 The project involves the construction of a 21 000 m2 mall at the corner of Main road and the N8 highway. 

CompComm recommends tribunal approval of DiData, MWEB merger

By: Natalie Greve     11th December 2014 The Competition Commission has, following a commission meeting on Tuesday, recommended to the Competition Tribunal that the merger between information technology services group Dimension Data (DiData) and the three divisions of Internet service provider MWEB be approved, with conditions. In terms... 

Revamped Paledi Mall poised to take advantage of university expansion

By: Natalie Greve     30th October 2014 The Paledi Mall, in the Limpopo town of Mankweng, has opened its doors to shoppers after undergoing a R282-million refurbishment. The community shopping centre, which was partly financed by a R125-million loan provided by Nedbank Corporate Property Finance to developers Twin City Development... 

Preliminary design of refrigeration system concluded

By: David Oliveira     19th September 2014 Engineering and design company WSP Africa completed the preliminary design of an ammonia-based refrigeration system for Malaysian retailer Giant in June this year. WSP technical director Kobus de Villiers notes that the project has been delayed by three months, as the project team waited for the... 

MIC aims to cultivate new Limpopo farmers and corporate partners

3rd September 2014 The Mineworkers Investment Company in partnership with the Department of Rural Development has launched a bid to ‘incubate’ start-up farmers in Limpopo as part of an enterprise development plan to create jobs and businesses. Initial focus is on the Thomo area, near Giyani. After that, MIC plans... 

SA's spaza shops suffer as big retail rolls in

By: Reuters     22nd April 2014 In this corner of South Africa's black township of Soweto, the biggest building used to be the Catholic church. Now it's been overshadowed by a shopping centre and business has only gotten worse for Grace, a 68-year-old shopowner. Like many proprietors of spaza shops - the informal stores that... 

Visual to raise R33m to keep up with growing property sector

By: Leandi Kolver     12th February 2014 Cape Town-based property development company Visual International plans to raise R33-million to keep up with the rapidly evolving property market, Visual MD and CEO Charles Robertson said on Tuesday. Speaking at a briefing for investors, in Johannesburg, Robertson noted that the company aimed to... 

Manufacturing critical to SA growth

By: Natasha Odendaal     15th October 2013 Consumers and retailers stood to benefit from a strong and growing manufacturing sector, Manufacturing Circle executive director Coenraad Bezuidenhout stressed on Tuesday, noting that this was critical to sustainable growth and shared prosperity This statement comes after Shoprite CEO Whitey... 

West Hills mall project, Ghana

By: Sheila Barradas     12th April 2013 The project involves the development of a 30 000 m2 mall in Ghana’s capital, Accra. 

Nedbank takes equity stake in Soweto mall

By: Megan van Wyngaardt     10th October 2012 Nedbank has invested R255-million finance for the building of the new Protea Glen Mall in Soweto, while has also taken an equity stake, the South African banking group said on Wednesday. Protea Glen, which opened in late September, boasts 30 000 m2 of retail stores. 

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