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Cape Town releases more land for affordable housing under new housing strategy

Published: 13 Jun 24

With national government slashing Cape Town’s housing grants by R107-million this financial year, the city has been forced to change its housing strategy, says Mayor Geordin Hill-Lewis. Cape Town is now positioning itself as an enabler for much more private sector-led affordable housing delivery, including the release of discounted land for social housing, while also ramping up support for micro-developers in townships.

Mercedes-Benz SA considers cutting 700 jobs on back of struggling economy, ports

Published: 13 Jun 24

Mercedes-Benz South Africa (MBSA) says it will move from three shifts a day at its East London plant to two shifts, in a move that could potentially cut 700 jobs. MBSA assembles the C-Class for the local and export markets, with more than 90% of production exported. Production reached just over 88 000 units last year.

Pape Fund expands its investment in Entersekt

Published: 13 Jun 24

Private equity fund Pape Fund 3 has expanded its investment in fraud prevention and payment security company Entersekt, buying out financial services firm Nedbank Private Equity’s equity stake. Pape Fund 3 had initially invested in Entersekt International in July 2022.

Demand for Krugerrands up as consumers diversify

Published: 13 Jun 24

Financial institution First National Bank (FNB) says it has seen strong demand from clients buying Krugerrands on its trading platforms as consumers embrace alternative asset classes to diversify their investment portfolios. Over the past year, FNB assisted with facilitating the delivery of over 2 200 Krugerrands on its trading platforms.

Image of Water and Sanitation Minister Senzo Mchunu

DWS launches four more catchment management agencies

Published: 13 Jun 24

The Department of Water and Sanitation (DWS) has officially launched four more Catchment Management Agencies (CMAs), adding to the two CMAs that have already been in existence for more than 10 years. These are the Limpopo-Olifants, Vaal-Orange, Pongola-Umzimkulu and the Mzimvubu-Tsitsikamma CMAs, which will be working alongside the already existing Breede-Olifants and Inkomati-Usuthu CMAs.

Image of MTN South Africa CEO Charles Molapisi

MTN Business to digitise 257 municipalities through smart electricity and water meter technology

Published: 13 Jun 24

Telecommunications group MTN Business has been awarded a three-year contract to enhance the digitisation – through the implementation of smart electricity and water technology – across South Africa’s 257 municipalities. The RT29 transversal contract, awarded by National Treasury, will see MTN Business, starting from this month, supply, deliver, install, manage and maintain end-to-end smart metering solutions across the country.

VW vehicles on the assembly line in South Africa

Volkswagen says carmakers seek to revive key South African rail line

Published: 13 Jun 24

Volkswagen and other automakers operating in South Africa are in talks with the state logistics company to revive a dilapidated rail line between the country’s commercial hub and a car export terminal 700 miles away. The companies, which include Isuzu Motors Ltd., would like to hire a private operator to run trains on the line between the Gauteng province and the city of Gqeberha, which would transport vehicles in both directions.

Diversification of energy generation, consumption important for businesses, Discovery Green says

Published: 12 Jun 24

Businesses are increasingly prioritising the procurement of renewable energy, and especially solar energy, owing to loadshedding, electricity cost increases and risks associated with high carbon footprints, but run the risk of increasing their total energy costs, including from variability challenges. Analysis by renewable energy for business platform Discovery Green shows that the solution to these challenges lies in diversification, both in terms of energy generation and consumption, in line with traditional insurance principles of risk pooling and diversification.

Tribunal confirms settlement agreement in plant and equipment hire cartel case

Published: 12 Jun 24

The Competition Tribunal has confirmed, as an order, a R480 000 administrative penalty imposed on plant and equipment hire company Hard Hat Equipment Hire as part of a settlement in a case in which it was accused of alleged price fixing and/or fixing trading conditions in contravention of the Competition Act. The company further agreed, among others, to refrain from contravening the Act and engaging in any prohibited practice in the future and would prepare a statement summarising the contents of the settlement agreement and circulate it to its employees, managers and directors.

TNPA gets four new tugboats for Durban, East London ports

Published: 12 Jun 24

State-owned Transnet National Ports Authority (TNPA) has taken delivery of the first four tugboats to boost marine fleet availability and shipping efficiencies at the ports of Durban and East London. The arrival of the tugboats brings TNPA a step closer towards the execution of its marine fleet renewal programme, which entails replacing marine fleet with the latest technology to extend the lifespan of marine assets.