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Nyanza Light Metals secures R28m facility from Afreximbank

Pan-African multilateral trade finance institution the Africa Export-Import Bank (Afreximbank) has approved a R28-million project preparation facility for titanium dioxide pigment manufacturer Nyanza Light Metals, which is based in the Richards Bay Industrial Development Zone (RBIDZ). Afreximbank has also been appointed the mandated lead arranger to arrange the R4.5-billion needed for the construction of Nyanza’s operations at the RBIDZ.

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L2D continues deriving value from positive retail growth

Precinct-focused and retail-centered real estate investment trust Liberty Two Degrees (L2D) continues to successfully weather the impacts of the Covid-19 pandemic, building on the basis of strong property fundamentals, as it continues to derive value in the current economic conditions from its operational strategy focused on asset management. In a statement on May 7, L2D CE Amelia Beattie said the company remained focused on “the new ABC of rebuilding for growth strategy and specifically on responding with agility, taking a back-to-basics approach in continuing to build strong property fundamentals and creating new communities of merged environments to complement our precinct-focused strategy”.

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BMW SA hands over 150-bed overflow facility at Bronkhorstspruit hospital

Automotive multinational BMW Group South Africa (BMW SA) has handed over a 150-bed overflow facility, at Bronkhorstspruit Hospital, which will benefit nine hospitals and four clinics. The facility forms part of a long-term and sustainable R76-million investment in creating more than 800 beds in nine hospitals and four community health clinics, including Phedisong, the Soshanguve Multi-Purpose Centre, Kgabo CHC and KT Motubatse, as well as two Covid-19 screening and testing centres, the company says.

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Durban Port’s return to form vital for South African recovery, says Ramaphosa

President Cyril Ramaphosa told the National Assembly of Parliament that government’s plans to guide South Africa on the path to economic recovery will not succeed unless the Port of Durban is restored to its former glory. Ramaphosa was replying orally to questions from Members of Parliament on Thursday afternoon. His replies at the hybrid plenary come a few weeks after Ramaphosa conducted a site visit to the KwaZulu-Natal port in April.

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Long delay in dividend flows to renewables-linked community trusts impeding effectiveness

The long lag between the establishment of community trusts that own a portion of the independent power producer (IPP) projects procured through South Africa’s renewables procurement programme and the flow of dividend income into these trusts has been identified in a new research report as a major impediment to the effectiveness of these trusts. The report, produced by Intellidex for FirstRand, estimates the projected dividend flows from projects procured, to date, under the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) will be about R27-billion over the 20-year life of the projects. On average, community trusts hold between 9% and 12% equity in these REIPPPP-linked facilities.

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PIC acquires Deloitte building in Midrand to add to GEPF portfolio

The Public Investment Corporation (PIC) has concluded a purchase agreement to acquire 100% of the leasehold rights, which include the office building and letting enterprise, housing Deloitte as the anchor tenant, in the prime location of Waterfall City, in Midrand, Gauteng.

The asset was acquired on behalf of the Government Employees Pension Fund (GEPF) and was previously owned by Attacq, through Waterfall Investment Company; and Atterbury, through Dale Creek Investments.

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Prevailing low capacity use in manufacturing industry a worry for Seifsa

Persistent low levels of capacity use in the manufacturing sector and low demand for locally manufactured goods are “worrying” trends compounding the prevailing Covid-19 restrictions that are limiting operations at industrial plants, says the Steel and Engineering Industries Federation of Southern Africa (Seifsa). Data released by Statistics South Africa (StatsSA) on May 6 shows that manufacturing capacity use in South Africa was 74% in the first quarter of this year, compared with 77.5% in the first quarter of 2020.

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Massmart opens new distribution centre in Brackenfell

Consumer goods distributor Massmart has opened its new 53 000 m2 distribution centre (DC) in the Brackengate 2 precinct, in Brackenfell, Cape Town.

Construction on the centre started in October 2019.

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Housing authority delivered 14 000 units in 2020, asks for budget reform

Social Housing Regulatory Authority (SHRA) council chairperson Bathabile Dlamini says the 2019/20 financial year had seen “encouraging” performance in that 13 projects were completed, delivering almost 14 000 units.

Although the target for the year was not met, it is a solid achievement, she adds. This while demand for social housing remains high at 320 000 units nationally.

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Saldanha Bay IDZ announces R3.5bn Phase 1 expansion project

The Saldanha Bay Industrial Development Zone (SBIDZ) is embarking on the R3.5-billion first phase of an eventual seven-phase infrastructure investment project. The first-phase 356 ha expansion is integral to national and regional infrastructure development and will also be the single largest project that government has launched in the Western Cape.

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