Construction on The Fynbos development is set for completion at the end of next year, with the first apartments ready for occupation in early 2025. The R1.2-billion building is located in Bree street, in Cape Town’s central business district, with apartment prices starting from R1.15-million.

Two more preferred bidders selected as part of the much-delayed Risk Mitigation Independent Power Producer Procurement Programme (RMIPPPP), which was launched as an emergency procurement round in 2020, have signed project agreements signalling legal close and have until December to reach financial close. The projects, which have a combined investment value of R14.6-billion, are the [...]

Intergovernmental organisation the International Renewable Energy Agency (Irena) has confirmed in a new report that the 187 GW of renewable energy installed last year contributed to the global power sector saving fuel costs of $520-billion. The organisation says the fossil fuel price crisis has accelerated the competitiveness of renewable energy, with 86% of all the [...]

JSE-listed food service group Bidcorp increased group trading profits by 38.4% to R10.5-billion for the year ended June 30 and increased headline earnings a share by 35.4% to R20.82, up from R15.38 in the 2022 financial year. It also declared a final cash dividend of 500c a share, thereby increasing dividends for the 2023 financial year [...]

Amid renewed calls for a functional online mining cadastre to help turnaround South Africa’s declining exploration performance, the Department of Mineral Resources and Energy (DMRE) reports that a preferred bidder has been identified and the proposed solution is currently being audited by the State Information Technology Agency (SITA). Addressing the inaugural African Critical Minerals Summit [...]

The latest research from policy research entity Trade and Industrial Policy Strategies (TIPS) reveals that, for the first time since the start of the Covid-19 pandemic, exports declined while imports continued to grow. The latest Imports Localisation and Supply Chain Disruption Study for the fourth quarter of 2022, shows that exports fell 3% to R495-billion [...]

Mineral Resources and Energy Minister Gwede Mantashe is aiming to seek Cabinet approval to publish an updated Integrated Resource Plan (IRP) for public consultation during an upcoming Cabinet meeting in September. Speaking on the sidelines of a critical minerals summit in Sandton, Mantashe indicated that he would be presenting the document, which he dubbed ‘IRP [...]

JSE-listed logistics and mobility solutions company Super Group’s deliberate diversification strategy has helped to bolster its performance in what is a turbulent trading environment. The group posted a 20.8% increase in earnings before interest, taxes, depreciation and amortisation (Ebitda) to R8.4-billion for the financial year ended June 30, compared with the prior year, as well [...]

Airtel Uganda plans to raise as much as 800-billion shillings ($216-million) in an initial public offering, making it the nation’s biggest share sale. The company priced its IPO at 100 shillings apiece valuing the nation’s second-biggest telecommunications carrier at four-trillion shillings. The unit of billionaire Sunil Mittal’s Airtel Africa Plc is selling a 20% stake, [...]

The Constitutional Court on August 25 dismissed the petition for leave to appeal the decision of the Metal and Engineering Industries Bargaining Council (MEIBC) to extend the main agreement to nonparties with effect from October 17, 2022. This judgment reinforces the principles of centralised collective bargaining, a cornerstone of South African labour relations, said industry [...]

 The European Union is scouting Africa to back clean jet fuel projects under its Global Gateway infrastructure fund, an EU official said, ahead of an anticipated boom in demand for environmentally sustainable air travel. The EU has pledged to dedicate half of its €300-billion infrastructure plan, seen as a rival to China's Belt and Road Initiative, [...]

JSE-listed real estate investment trust Vukile Property Fund has issued R526-million of senior unsecured corporate bonds, with keen investor interest having been yielded. The initial target issuance size of R500-million was 4.1 times oversubscribed, having attracted bids of R2-billion.