While Nigeria’s economic downturn created adverse conditions for international companies operating in the country, leading construction and property solutions company, Profica, adopted an astute approach to doing business that enabled them to weather the storm. 

South Africa's foremost financial services company, FirstRand Limited has disclose plans to invest proceeds of its $250 million fund raising exercise across major West and Southern African real estate markets - particularly Nigeria, Ghana and Angola.

Monday, 08 October 2012 07:49

RMB Westport says West is best

RMB Westport recently raised US$250-million for its Real Estate Development Fund aimed at developing real estate assets in west Africa.

Joining Atterbury Group’s African expansion, Hyprop Investments Limited has entered an agreement as a co-investor in Mauritian-based property investment company, Atterbury Africa Limited

Namibian retail has been largely sheltered from the prevailing tough trading conditions which have impacted the retail sector in South Africa and globally, explains retail leasing director, Dave Bennie of leading African property company Broll

Thursday, 02 October 2008 02:00

Didata enters Angolan market

Dimension Data has launched a business in Angola by acquiring 51% of the technology supplier Sistemas Redes e Communicações (SRC).

Thursday, 22 May 2008 02:00

Esor thrives on building boom

Geotechnical engineering specialist Esor on Wednesday reported a threefold increase in revenue to R1bn for the year to February as it benefited from commercial and government infrastructure spend and a building upsurge in Angola and Mauritius.

Construction IndustryCEO Bernie Krone said today’s buoyant construction market was the primary driver for the group’s organic growth.

“The Gautrain continues to be a major contributor. We have R400m worth of work for the high- speed train which will be world class, with 14 months’ worth of work,” Krone said.

Of the R420m worth of projects secured, R170m was completed during the year.

“The Gautrain … is stimulating major development within the radius of its stations’ use areas, which will dramatically alter the urban landscape and further boost the construction industry beyond 2010.” The many new developments in the pipeline included high-rise offices, hotels and retail and commercial building projects.

The group has completed piling projects for Airports Company SA at the new King Shaka and Cape Town International Airports and contracts for piling, pedestrian culvert jacking and lateral support at OR Tambo International Airport.

Work on stadiums for the 2010 World Cup has been completed at Athlone Stadium in Cape Town, Moses Mabhida Stadium in Durban and Port Elizabeth Stadium.

Profit came in at R116m from R34m a year before.

Headline earnings per share jumped 240% to R115m, equating to 51,3c per share while net asset value per share increased 46% from 109,8c per share to 160,3c.

The group declared a final dividend of 20c per share for the year for a total of R49,6m.

Krone said the group was entrenching its presence in Africa, building on subsidiary Franki’s foothold in oil-rich Angola. Contracts for piling, lateral support and marine works projects were completed during the year.

Stringent cost control kept operating margins steady despite the negative effect on the group of unusually abundant December rains.

“We did see a slight decrease in margins in the final quarter of the year since excessive rain in Gauteng slowed down projects before and after our year-end break.

“However, a stricter focus on operational efficiencies and aggressive investment in plant helped keep margins on a par with last year,” Krone said.

Esor invested R147,5m in new equipment during the year.

Krone said the current year would be an acquisitive one, but the group would look only at companies that made good business sense and in the geotechnical engineering sector.

 

Monday, 21 April 2008 02:00

Lonrho to develop Angolan port

Lonrho Plc, the conglomerate with a structured portfolio of African investments, has announced that it has signed an agreement with Enditrade Logistica Integrada Sarl to establish a $9m new logistics centre and bonded dry port in Luanda, Angola.

Construction and engineering company says it suspects 'certain' potential irregularities involving some of its employees at the Nova Vida housing project in Angolan capital Luanda.

Group Five informs investors of 'certain potential irregularities' it suspects on a housing project, the Nova Vida Project in Luanda, Angola.

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