Industry News

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Kasada acquires African hotel portfolio from AccorInvest

Kasada Capital Management – through the debut fund, Kasada Hospitality Fund – has acquired a portfolio of eight sub-Saharan African hotels from AccorInvest. The transaction relates to the Pullman, Novotel, Ibis Plateau and Ibis Marcory hotels in Abidjan, Côte d’Ivoire; the Pullman, Novotel and Ibis hotels in Dakar, Senegal; and the Ibis hotel in Douala, […]

Project launched to define role of finance in South Africa and India’s ‘just transitions’

A new multi-partner initiative has been launched with the aim of defining the role that finance can and should play in supporting both South Africa and India’s aspirations to implement “just transitions” to more climate-resilient economies. The ‘Just Transition Finance Roadmaps in South Africa and India Project’ is being backed by the UK’s development finance […]

Ninety One SA clients increase shareholding in Murray & Roberts

JSE-listed Murray & Roberts has received formal notification that clients of financial services provider Ninety One SA have, in aggregate, acquired an interest in the ordinary shares of the company. The total interest in the ordinary shares held by Ninety One SA clients now amounts to 5.18% of the total issued ordinary shares of Murray […]

AfriSam helps build solid foundation for Cape Town mixed-use development

Variable ground conditions at an upmarket mixed-use development in Cape Town has demanded some innovative solutions from contractor GVK-Siya Zama Construction and readymix specialist AfriSam. At the Old Cape Quarter project in De Waterkant, four floors of luxury apartments are being added to retail and office space, which meant substantial strengthening of the foundations and […]

After baptism of fire, empowered valves manufacturer on road to recovery

After fulfilling, in November 2019, all the conditions precedent to finally consummate the R165-million acquisition of valve manufacturer Dynamic Fluid Control (DFC) from Aveng the new black owners faced a true baptism of fire. CEO and co-shareholder Tumi Tsehlo, who previously headed the South African Mint for eight years, reports that the business immediately slumped […]

Second wave of infections delays training at Tjeka Training Centre

Construction training academy Tjeka Training Centre, based in Randfontein, has seen a slowdown in the onboarding of participants for the new year, mostly owing to the second wave of Covid-19 infections in South Africa, says Tjeka Training Matters CEO Frans Toua. He tells Engineering News that the rise in infections nationwide has led clients to either cancel or postpone […]