Despite Africa’s holding much promise in terms of business development, the business dynamics in African countries have been severely affected by the effects of Covid-19.

State-owned development finance institution Development Bank of Southern Africa (DBSA) is looking to accelerate playing a meaningful role in the economic recovery of the country by assisting in financing and implementing vital infrastructure projects for the transport sector, particularly road development projects. DBSA principal project and infrastructure finance professional Nangamso Matebese-Maponya explains that, owing to the impact of Covid-19, the DBSA has had to follow a flexible approach in terms of funding roads infrastructure projects in the transport sector.

The South African National Roads Agency Limited (Sanral) has signed a memorandum of understanding (MoU) with the South African Forum of Civil Engineering Contractors (Safcec), with the aim of prioritising the development of small, medium-sized and microenterprises (SMMEs) in the road construction industry. “In order to achieve meaningful transformation in this sector, we have to look beyond just meeting targets,” says Sanral transformation head Ismail Essa.

Openpit miner Afrimat reported an 11% year-on-year increase in operating profit for the six months ended August 31, despite a 9.4% year-on-year decrease in revenue. The company also ended the period with cash and cash equivalents of R330-million, a 170% year-on-year increase.

Finance has a significant role to play in a sustainable future, which comprises economic, environmental, social and governance responsibilities, JSE chief sustainability officer Shameela Soobramoney said during this year’s virtual Green Building Convention on October 29. Sustainability emerged as a component of corporate ethics in response to the perceived public discontent over the long-term damage caused by a focus on short-term profits and, therefore, focuses on meeting the needs of the present without compromising the ability of future generations to meet their needs, she explained.