Afrirent Holdings has secured the winning bid to develop a prime site located next to the Cape Town International Convention Centre (CTICC). The right to construct a mixed-use development, valued roughly at R1.2-billion, follows a public lease auction, with Afrirent Holdings submitting the winning bid.

The first phase of the drinking water project for Hammanskraal has been completed, with the first of four modules of the Klipdrift potable water package plant set to increase availability of potable water for parts of the region. The Department of Water and Sanitation (DWS) last year allocated R758-million for the upgrading of the 40 Ml/d Klipdrift water treatment plant to address water supply and quality challenges in Hammanskraal through the construction of a package plant to provide additional water into the existing bulk water infrastructure.

Trade conditions showed slower improvement in August, coming under further pressure since then, with only about a third of respondents reporting positive trade conditions in October – a level similar to that of October 2023. This is according to industry organisation the South African Chamber of Commerce and Industry’s (Sacci’s) Trade Conditions Survey for October.

Telkom South Africa on Monday reported an 18.3% increase in adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) from continuing operations to R5.61-billion during the six months ended September 30, 2024. This excludes a restructuring cost of R160-million and the Telkom Retirement Fund derecognition loss of R618-million.

Africa's biggest mobile operator MTN is exploring partnerships with low-Earth-orbit (LEO) satellite providers to bring internet connection to rural and remote customers in particular, Group CEO Ralph Mupita said on Monday. Satellite-internet has become an alternative connectivity solution across Africa with the popularity of providers such as Starlink, operated by Elon Musk's SpaceX.

Forestry, Fisheries and the Environment Deputy Minister Narend Singh has launched the 2023/24 National Environmental Compliance and Enforcement Report (NECER), which highlights improvements in proactive compliance monitoring. The launch occurred at the tenth National Environmental Compliance and Enforcement Lekgotla, being held this week at the Ukhahlamba-Drakensberg World Heritage Site, in KwaZulu-Natal.

The Africa Finance Corporation (AFC) has signed a memorandum of understanding (MoU) with the Japan Institute for Overseas Investment (JOI), aimed at scaling up investment flows into Africa. The AFC is focused on financing the development of core infrastructure (that is, power, natural resources, heavy industry, transport and telecommunications) projects across the continent. The JOI is an initiative of the Japan Bank for International Cooperation (JBIC). The AFC already has a strong partnership with the JBIC. The new MoU, with the JOI, is aimed at boosting projects that will transform Africa’s energy sector by accelerating the energy transition and strengthening economic sustainability.

Progress is being made on the maintenance and repair of the Lesotho Highlands water tunnel, which was shut down more than a month ago to undertake the critical work that will ensure longevity of the infrastructure. Since the total shutdown on October 1, for a duration of six months, the tunnel, which transfers a contracted 780-million cubic metres of water a year into South Africa, has been emptied of water and general inspections were conducted – essential activities that were required before repair works started on November 1.

President Cyril Ramaphosa described the Stilfontein mine as a “crime scene”, on Monday, as he called for a peaceful resolution to the standoff at the disused mine shaft, where illegal miners are holed up. The South African Police Service and government departments have been trying, for over a month, to surface the illegal miners from the abandoned North West gold mine. While more than 1 000 miners have since surfaced and been arrested, it is believed that there are still hundreds of illegal miners in the shaft. Police had closed off the mine’s entrances and stopped supplies of water and food to the miners. However, the Pretoria High Court has since ruled that the shaft be unblocked by police to allow for food and water to reach the miners. One body has been retrieved from the mine. Ramaphosa said this operation formed part of government’s nationwide Operation Vala Umgodi crackdown to curb illegal mining activities in the country, which he said cost the economy billions in lost export income, royalties and taxes. “We need to be clear that the activities of these miners are illegal. They pose a risk to our economy, communities and personal safety. The Stilfontein mine is a crime scene where the offence of illegal mining is being committed. It is standard police practice everywhere to secure a crime scene and to block off escape routes that enable criminals to evade arrest. In doing so, the police must take great care to ensure that lives are not put at risk and that the rights of all people are respected,” he said. Miners who surface from the mine shaft are medically assessed and detained if found to be in good health. Others are transported to the hospital under police guard.

JSE-listed integrated poultry producer Astral Foods has managed to swing from an operating loss of R621-million in the 2023 financial year to an operating profit of R1.1-billion for the financial year ended September 30, on the back of its recovery strategy to deal with the slump induced by Avian influenza and loadshedding. “The successful execution of our ‘re-set, re-focus and re-start’ campaign during the year under review resulted in the group increasing operating profit by 281% year-on-year and returning to profitability after the worst year in Astral’s history,” comments outgoing CEO Chris Schutte.