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Bureaucracy, lags in approval are killing the construction industry, say developers

Bureaucratic delays in getting property developments under way has badly damaged the development and construction industry, prompting a crisis, industry experts have outlined at the Western Cape Property Development Forum (WCPDF) conference, in Cape Town. They’ve also lamented a “shocking” decline in spending in the City of Cape Town’s capital budget.

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Mozambique’s GDP growth to fall to below 3% following Idai

The Mozambican government has estimated its emergency assistance needs and reconstruction costs following cyclone Idai, in March, will reach $1.5-billion, or about 10% of the country’s gross domestic product.

The International Monetary Fund (IMF), in a report, compiled information around the incident, including an assessment of the damage and a debt sustainability analysis.

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Pioneers and projects that shone at African Power, Energy & Water Industry Awards

A dynamic South African leader in renewable energy, a former influential government minister in Ethiopia, the Ghana Grid Company and a range of renewable energy projects were among the winners at the annual African Power, Energy & Water Industry Awards announced in Cape Town this week. The prestigious awards ceremony honours the leading utilities, projects and people in the water and energy industries on the continent and forms part of the African Utility Week and PowerGEN Africa conference and exhibition.

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PPPs could help ailing municipal water sector, suggests NBI

A series of public–private partnerships with municipalities could help ailing local water and sanitation departments (WSDs), many of which face challenges ranging from deteriorating infrastructure to declining water quality and poor governance. According to the National Business Initiative, nearly half of the local WSDs are in a “critical state” and need help from the private sector.

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Emira expands US portfolio with two equity investments

Emira Property Fund has made two further equity investments into grocery-anchored dominant shopping centres in Texas, in the US. Emira has now assembled a portfolio of eight value-focused retail centre assets in the US.

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Mozambique power utility begins the long process of recovery following cyclones

Mozambique’s energy sector is trying to get back on track following the devastation wreaked on its power system by Cyclone Idai in March and cyclone Kenneth in April.   Electricity Company of Mozambique chairperson and CEO Aly Impija told delegates attending the African Utility Week, in Cape Town, on Wednesday, that the cyclones wiped out 103 km of transmission lines and caused the loss of 45 MW of generation from its Mavuzi and Chicamba hydropower plants.

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Sanedi launches two solar heating system projects

South African National Energy Development Institute (Sanedi) on Wednesday launched the first solar district heating system in South Africa at the University of the Witwatersrand’s (Wits’) Junction Campus, as well as the largest solar process heat system in sub-Saharan Africa at the Klein Karoo International (KKI) tannery.   These two Southern African Solar Thermal Training and Demonstration Initiative (Soltrain) projects, funded in part by the Austrian Development Corporation, will save the two buildings millions of rands in energy costs.

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Rescue practitioners expect proceeds of R709m from initial Group Five disposals

Business rescue practitioners (BRPs) at construction firm Group Five reported on Wednesday that the disposal of stakes in three companies, together with sale of plant, assets and property, is expected to yield proceeds of R709-million. Group Five’s shares were suspended in March after the company entered business rescue and David Lake and Peter van den Steen were appointed as the joint BRPs.

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Gemgrow focuses on noncore asset disposals ahead of proposed Arrowhead merger

JSE-listed real estate investment trust (Reit) Gemgrow Properties COO Alon Kirkel believes the company’s focus on recycling noncore assets and managing its yield profile has created a more attractive asset for the proposed merger with its parent company Arrowhead Properties. He told Engineering News Online on Wednesday that the proposed merger, which was first announced in April, would result in synergistic benefits for all shareholders.

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Egypt’s Sisi opens huge suspension bridge over the Nile

Egyptian President Abdel Fattah al-Sisi on Wednesday opened a suspension bridge over the Nile touted as the world’s widest, one of a series of military-led, megaprojects designed to improve infrastructure and provide jobs. The bridge, which crosses the Nile just north of central Cairo, is a key link in a highway stretching from the Red Sea in the east to Egypt’s northwestern Mediterranean coast, and is meant to help reduce congestion in the capital.

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