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Tower Property’s refurbished, renamed Cape Quarter Plaza set to launch end-April

By: Simone Liedtke     23rd April 2018 The refurbishment of the Cape Quarter Plaza, which will be renamed the Old Cape Quarter upon completion, will be launched by Tower Property Fund’s subsidiary Cape Quarter company at the end of April. The Cape Quarter precinct is situated in De Waterkant, in Cape Town, and is a highly desirable... 

Gensource offtake MoUs signal supply malaise in N American potash market

By: Henry Lazenby     14th April 2018 The fact that junior Canadian start-up Gensource Potash has been able to secure two memoranda of understanding (MoUs) from separate US offtake partners that support the establishment of a new and independent supply of potash, speaks to a certain malaise in the continent’s crop nutrient market.... 

Flooring company takes over linoleum activities

13th April 2018 Production and distribution of flooring, wallcovering and finishes global leader Gerflor entered into a binding agreement to acquire floor coverings manufacturer DLW Flooring’s linoleum activities. Consummation of the transaction is subject to customary regulatory approvals and was expected to... 

Tangible results needed to maintain business confidence momentum – Sacci

By: Simone Liedtke     5th April 2018 Although an improved business mood is still present, it has to be augmented by an improvement in the real economy and further focus on better financial conditions, the South African Chamber of Commerce and Industry (Sacci) said on Thursday, releasing the results of its latest business confidence... 

Dipula’s R1.25bn acquisition progresses

By: Marleny Arnoldi     23rd March 2018 JSE-listed diversified real estate investment trust Dipula Income Fund on Friday provided further details of its R1.25-billion property portfolio acquisition that was initially announced in November.  

Minister seeks better monitoring of local procurement compliance

By: Marleny Arnoldi     15th March 2018 South Africa has seen a slippage in State entities’ compliance with local procurement regulations, which the Department of Trade and Industry (DTI) seeks to rectify by introducing a tougher consequence management system. Trade and IndustryMinister Dr Rob Davies said on Thursday that corruption... 

First global bond ETF listed on the JSE

By: Marleny Arnoldi     13th March 2018 The Ashburton World Government Bond Exchange Traded Fund (ETF) listed on the JSE on Tuesday, becoming the exchange’s first global bond ETF.  

EPP achieves distributable earnings of €76.6m in FY17

By: Marleny Arnoldi     8th March 2018 JSE- and Luxembourg Stock Exchange-listed retail-focused Netherlands-based property company Echo Polska Properties (EPP) posted distributable earnings of €76.6-million for the year ended December 31, translating into distributions of €0.11 a share.  

Subaru sales accelerate by 10% in ‘lethargic’ South African market

By: Irma Venter     2nd March 2018 Subaru South Africa (SA) sales increased by 10% last year, reaching 1 002 units, outgunning a lethargic domestic new-vehicle market that managed only a 1.8% gain in 2017 compared with 2016. Subaru has been operating in South Africa for more than twenty-five years. 

RCL Foods eyes greater market share as new pet food facility opens

By: Megan van Wyngaardt     1st March 2018 Fast-moving consumer goods manufacturer RCL Foods on Thursday launched its new R150-million pet food manufacturing facility, in Randfontein. Through the establishment of the 1 500 m2 facility, which employs around 700 people, the company aims to take a greater share in the R5-billion a year South... 

Growthpoint's distributable income increases to R2.9bn in H1

By: Simone Liedtke     28th February 2018 JSE-listed Growthpoint's distributable income increased by R281-million, or 10.6%, to R2.9-billion, in the six months ended December 31. Distributions per share grew by 6.5%, with Growthpoint declaring an interim dividend of 101.2c a share for the six months under review. 

Green shoots seen in construction industry, despite tight conditions 

By: Megan van Wyngaardt     23rd February 2018 The South African construction sector is still facing "very tough and difficult" conditions, with the 2.5% inflation rate creating an even tighter environment, Econometrix chief economist Dr Azar Jamine said on Friday. Speaking to industry representatives during an Afrisam-hosted post-Budget... 

Lighting company launches linear light

By: Marleny Arnoldi     23rd February 2018 Designer and manufacturer of light-emitting diode (LED) lighting solutions LEDWise is taking advantage of the definite trend towards using linear LEDs in industrial and commercial applications by launching its ACE continuous linear light.  

Wacker Neuson SA signs exclusive partnership agreement with Namibian dealer - IBS

9th February 2018 On Tuesday 28th November 2017 Wacker Neuson South Africa signed an exclusive partnership agreement with long-standing Namibian dealer, Industrial Building Supplies & Plant Hire (IBS). The agreement positions IBS as the exclusive supplier of Wacker Neuson light construction and compact equipment... 

Italtile anticipates stronger H2 as business outlook improves

By: Simone Liedtke     7th February 2018 Despite the improved outlook for South Africa and a gain in consumer confidence stemming from recent political events, retail company Italtile believes the macroeconomic environment will remain challenging in the short term. Italtile management, however, anticipates its performance in the second... 

Capitec shares fall sharply after research group says loan book overstated

By: African News Agency      30th January 2018 Shares in Capitec Bank tumbled as much as 20 percent on Tuesday after US researcher Viceroy said it had done extensive due diligence and compiled evidence suggesting the company must take significant impairments to its loans which would likely result in a net-liability position. The lender said... 

Digital transformation in sight

By: Donald Makhafola     26th January 2018 Airports Company South Africa (ACSA) has decided to transform from being an airport business that operates technology to a digital business that manages airports. ACSA CEO Bongani Maseko says the implementation of the five-year digital strategy began in 2016 and the company has already piloted... 

Subaru in S Africa to stay, says Japanese brand

By: Irma Venter     24th January 2018 Subaru South Africa (SA) sales increased by 10% last year, reaching 1 002 units, outgunning a lethargic domestic market that managed only a 1.8% gain in 2017 compared with 2016. Subaru has been operating in South Africa for more than twenty-five years. 

Wits University launches technology innovation programme

By: African News Agency      22nd January 2018 Wits Univesity says it has launched a digital innovation programme to help local technology start-ups grow. The project, part of local firms BCX and Telkom's innovation programme, is targeted towards digital business working in fields like agriculture, smart cities, safety and security, education... 

Mitigating plastic’s negative public image

By: Marleny Arnoldi     19th January 2018 Continued local and international pressure to ban plastic bags and other single-use plastics, as cited in the media and social media, is at an all-time high, says plastic industry representative body Plastics South Africa (Plastics SA).  

New report names WBHO’s Australian unit the country’s ‘most active’ construction firm

By: Irma Venter     19th January 2018 Wilson Bayly Holmes-Ovcon’s (WBHO’s) Australian subsidiary, Probuild, has been named the most active construction company in the country by the Australian Housing Industry Association Construction 100 Report. Probuild has jumped from fifth place last year to top spot, in terms of work procured. 

DSV ByBox hits the 20 000 parcel mark

By: Megan van Wyngaardt     11th January 2018 A partnership between South African oil and gas company Engen and logistics group DSV Global Transport and Logistics, which has seen the placement of automated parcel lockers known as DSV ByBoxes at Engen service stations since 2014, has reached its 20 000 parcel mark. There are currently 65 DSV... 

EPP closes the first tranche of the M1 portfolio acquisition

By: Anine Kilian     9th January 2018 Property development company Echo Polska Properties (EPP) has closed the €358.7-million first tranche of its acquisition of the Poland-based M1 portfolio. The company in December announced that it would acquire the portfolio, which comprises 12 shopping centres and retail parks, for €692-million. 

Nutrien gains on first trading day as Agrium, PotashCorp complete merger

By: Henry Lazenby     3rd January 2018 The TSX-listed equity of freshly minted fertiliser producer, distributor and retailer Nutrien gained nearly 6% on Tuesday – its first trading day following closure of the transaction on New Year’s day. The ‘merger of equals’ has created a new top-tiered fertiliser company with a total market... 

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... 

DA wants probe into Deloitte over Steinhoff role

By: African News Agency      8th December 2017 South Africa's main opposition Democratic Alliance (DA) said on Friday it had requested an investigation into Deloitte, the auditors of retail group Steinhoff, after accounting irregularities were uncovered. "The resignation of Markus Jooste, Chief Executive Officer of Steinhoff International... 

Brent Cross London regeneration, England

By: Sheila Barradas     1st December 2017 The regeneration of Brent Cross London will double the size of the existing centre to two-million square feet of retail and leisure space.  

Premium German anchoring systems available locally

30th November 2017 Some of the most technically-advanced anchoring system solutions in the world are being made available to the local construction and allied industries by leading distributor Upat in Johannesburg. Established in 1983, one of the sole distributorships that Upat prides itself on is, fischer from... 

New initiative aims to create 100 000 jobs for the youth in 2018

By: Natasha Odendaal     27th November 2017 With unemployment in South Africa reaching crisis levels that further threaten an already embattled economy, a new initiative, bringing together 20 industries, aims to create at least 100 000 jobs for unemployed youth in 2018. Launched on Monday, the multisector Jobs Summit initiative aims to... 

Mining midmarket enterprises lead gross value-add metric in Canada – HSBC

By: Henry Lazenby     24th November 2017 Mining-focused midmarket enterprises (MMEs) are the leading contributors to gross value-add (GVA) to Canada’s economy, a new report by international banking group HSBC has found. Published on Thursday, and authored by HSBC and Oxford Economics, the ‘Entrepreneurial heartland of MMEs' report found... 

Company expands diesel supply to include buses

By: Tasneem Bulbulia     24th November 2017 Wholesale prices fuel supplier Next Grace Investments is providing a valuable diesel supply solutions for clients in the bus and truck industry. During the Gauteng Bus Indaba and Strategic Planning Workshop, held in September at the Nasrec Expo Centre, in Johannesburg, Next Grace Investments... 

The changing face of the township economy

By: Sydney Majoko     24th November 2017 In the late 90s and early 2000s, whenever a township dweller spoke of his or her  family being in business, it meant one of two things: they either owned a retail shop or were in the taxi industry. That is what business in the township was all about in those days. There was the odd different... 

Brent Cross London regeneration, UK

By: Sheila Barradas     24th November 2017 Hammerson and Standard Life Investments is doubling the size of the Brent Cross London centre, in England. 

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. 

Accelerate ends half-year on strong note, acquires Poland portfolio

By: Megan van Wyngaardt     20th November 2017 Despite the uncertain macroeconomic and political environment, the value of Accelerate Property Fund’s property portfolio increased by 30% year-on-year to R11.8-billion in the six months ended September 30, resulting in a total gross lettable area (GLA) of 637 577 m², it said on Monday. The... 

Building pipeline in Aus sees Probuild contribute 60% of WBHO revenue

By: Irma Venter     17th November 2017 Wilson Bayly Holmes-Ovcon’s (WBHO’s) Australian subsidiary, Probuild, has been named the most active construction company in the country by the Australian Housing Industry Association Construction 100 Report. Probuild has jumped from fifth place last year to top spot, in terms of work procured. 

RS Components introduces the new DYMO wireless label printer for industrial applications

16th November 2017 Ideal for industrial use, LabelWriter Wireless delivers cable-free printing using existing highly durable label tapes featuring high tear and solvent resistance   RS Components, the trading brand of Electrocomponents plc, the global distributor for engineers, has announced availability of the new... 

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