Credit downgrades will increase cost of SA’s infrastructure projects

After South Africa’s government debt was dramatically downgraded by global credit rating agencies Standard & Poor’s (S&P) and Fitch, newly appointed finance minister Malusi Gigaba has put on a brave face, moving fast to reassure wary investors that the country will maintain its fiscal discipline following President Jacob Zuma’s major Cabinet reshuffle at the end of March.

Gigaba’s words and deeds will determine the outcome of government’s massive infrastructure drive, which has struggled even during the fat years to produce the coveted “inclusive growth”. 

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Young people want share of lucrative property market

Young people want their share of the R5.8 trillion property market. That was the message recently from the newly launched Youth In Property Association (YIPA), which hopes to boost the participation of young people in the lucrative industry by representing their needs.

The launch of the association follows calls by lobbyists to open up the industry to more black property entrepreneurs.

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Barloworld Equipment’s performance tells a tale of two industries

The mining industry has been in the doldrums since the economic recession that swept globe seven years ago, but Emmy Leeka has not lost hope that the industry will claw its way back into profitability.

At the beginning of October this year, the veteran mining executive took over the reins as chief executive officer of Barloworld Equipment Southern Africa from Dominic Sewela, who has been appointed CEO-designate of JSE-listed distribution group Barloworld, the equipment division’s 114 year-old parent company.

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Black property players cry foul over slow pace of BEE

A lobby group has pleaded with the government to open up the R5.8 trillion property sector to its members, who are struggling to gain a foothold in the market.

The South African Institute of Black Property Practitioners says the Department of Public Works is one of the major stumbling blocks to black property entrepreneurs’ prosperity. The institute represents black landlords and property developers, who are looking to government’s black economic empowerment (BEE) policy to break into the lucrative industry. 

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Massive change afoot for black businesses in construction

 

After being bogged down in drawn-out negotiations and suffering a regulatory setback in February, the revised construction sector empowerment code has made a stunning comeback to see the light of day.

While various industry stakeholders appeared jubilant at the official unveiling of the draft code on 28 July, the sector is faced with a mountain of work in implementing the code, which its supporters say will bring racial transformation to the construction sector. 

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