Wednesday, 24 December 2003 02:00

Shops for Africa posts interim loss

 

Listed South African retail property income fund Shops for Africa (SFA) has reported a headline loss per share for the six months to end-October 2003 of 0.83 cents, compared to a loss of 0.39 cents per share a year earlier.

Thursday, 23 October 2003 02:00

Mvelaphanda enters local biotech market

Black economic empowerment pioneer Mvelaphanda could start construction of a state-of-the-art biotech facility in South Africa early next year, Mvelaphanda Holdings founder and executive chairman Tokyo Sexwale said yesterday.

Monday, 20 October 2003 02:00

Coatings for Africa

MARMORAN, makers of specialist coatings for the building industry, have won one of the largest contracts of its kind to be awarded in Africa.

Tuesday, 30 September 2003 02:00

Funding vehicle in the rest of Africa

THERE are 284 municipalities in SA and more than 150 of these local authorities have borrowed money from the Infrastructure Finance Corporation.

Friday, 29 August 2003 02:00

US, European firms will rebuild Africa'

There are growing indications that US and European companies, as opposed to African companies, will rebuild Africa through the New Partnership for Africa's Development (Nepad).

SHOPS for Africa, a listed property loan stock company on the JSE Securities Exchange SA, said at the weekend it had acquired a major share in Sammy Marks' Square, a shopping centre located alongside the State Theatre in the Pretoria central business district.

 

Trade unions criticised First National Bank (FNB) yesterday for opposing Pepkor's purchase of ailing Fashion Africa (Fashaf), which saved 1000 jobs.

Tuesday, 10 December 2002 10:01

CNA lifts Edcon's revenue to R2bn.

 

The acquisition of 140 CNA stores, combined with the group's recent purchase of cash discounters, Super Mart, is expected to add about R2bn in revenue to Edgars Consolidated (Edcon) over the next two years, CE Steve Ross said yesterday.

Friday, 08 February 2002 03:01

Shops For Africa targets R1bn portfolio

Shops for Africa, the focused retail property company that listed in the JSE property loan stock sector in July 2001, is aiming to more than treble the value of its portfolio to R1-billion.

Thursday, 12 September 2002 02:00

The lure of a record low

 Overcapacity in the building industry and a weak rand have pushed SA building costs to historic lows against other countries.

Construction IndustryThe highest contract price of an air-conditioned office building in SA is now only US310/m² - 13% of the 2 350 cost in the US - according to a survey by international consultants E C Harris. It is only 42% of the $730 top cost in Slovakia, the next lowest on a list of 35 countries . Japan is the highest at $2 630/m².

'The price differential is at the point where it means multinationals will now open in SA because the setup cost is so low,' says Harris's head of cost research, Paul Moore. 'The low costs are reinforced by low labour costs, an important component of building.'

But it could also mean higher building-cost inflation: building costs rose 20,4% annualised last quarter.

Moore says there are also signs that SA contractors are using their price advantage to build up business elsewhere in Africa. 'With no funds for tourism or infrastructure, they are looking for outside opportunities, especially in the north,' he says.

Harris forecasts military construction will rise 17% this year as private property development slows down.

 

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