Sunday Tribune 2024-01-28

IAN Wyles Auctioneers will be auctioning an industrial property in Wentworth on February 28 at 11am. The property, a combination of two addresses – 37 Hime Lane and 18 Chelmer Road, Jacobs – is centrally located and has easy access to the M4 freeway. Combined, there is approximately 1 200m² of under-roof space. Within the property, there is a reception area and four offices and a file room. The front offers eight or so parking spaces. There is one large roller door into the premises. At the back, there is a small yard and a secure gate that allows for vehicle access. The property is used for engineering and has 250 KVA of power. All the assets within the property can be sold separately or collectively, independently of the property.…

IN2ASSETS will be auctioning an upmarket home in an exclusive gated estate in Umhlanga Rocks on February 15 at 11am. The four-bedroom property is at 8 Mongoose Place, Hawaan Forest Estate, an estate positioned along one of the oldest coastal dune forests in KwaZulu-Natal, offering a “back-to-nature” lifestyle. Comprising 100 homes, with forest and sea views, the highly secure, gated eco estate provides tranquil living in contemporary homes and gardens, surrounded by indigenous trees, shrubs and plant life that attract a diverse species of birds and small forest dwellers such as bush buck, duiker, genet, banded mongooses, scrub hares and vervet monkeys. Layouts of homes have been designed to allow landscaping to permeate all residential and leisure areas and highlight the outside-inside lifestyle theme of the estate. No pets are…

CHRISTIE’S will be presenting the property from music legend Sir Elton John’s former Atlanta home in landmark sales at Christie’s Rockefeller Center next month. Beginning with an evening sale on February 21, the series will comprise eight sales, both live and online. The city of Atlanta played a crucial role in John’s life, becoming the hub he would return to throughout his tours in the US. He solidified the connection to Atlanta in 1992 when he bought the condominium in Park Place, on Peachtree Road. Tash Perrin, the deputy chairperson of Christie’s Americas, said: “It is a distinct privilege for Christie’s to partner with Sir Elton John and his husband, David Furnish, in curating the forthcoming auction: ‘The Collection of Sir Elton John: Goodbye Peachtree Road’. “The extraordinary collection not…

The South African Reserve Bank (SARB) kept interest rates in the country unchanged this past week. This means that the repo rate will remain at 8.25%, while the prime lending rate also stays at 11.75%. Frank Blackmore, the lead economist at KPMG SA, said the bank’s reasoning was more than onefold. “Firstly there are serious upside risks to inflation, any combination of which could push inflation once more above the upper target of 6%. Secondly, the inflationary expectations in the market and the general public remain unanchored at either around 5.8% for business, or 6.1%, which is far higher than the 4.5% that the Reserve Bank expects. Thirdly, specifically, fuel and food prices show a lot of volatility and have a lot of risks that may impact these two items,”…

As South Africa moves into 2024, the landscape of Broad-based BEE (B-BBEE) is poised for significant shifts. The B-BBEE framework has been a cornerstone of economic transformation in our country, aiming to address historical imbalances and promote inclusive economic growth. This year, I am hoping to see the following taking place in B-BBEE transformation: Updated B-BBEE Codes of Good Practice The B-BBEE Codes of Good Practice, including for specific sectors, are subject to periodic reviews, and this year may see updates to the code, especially aligning to the 2019 Amendments to the General B-BBEE Codes of Good Practice. Businesses should anticipate changes in scorecard elements, weightings, principles and compliance criteria. Staying abreast of the modifications will be crucial for companies striving to maintain or improve their B-BBEE status. Enhanced focus…

The cost of living for consumers continues to remain high after it was revealed this past week that the price of a basic grocery food basket had increased by 8.3% in just a year. This was according to the January 2024 Household Affordability Index and Key Data, compiled by the Pietermaritzburg Economic Justice & Dignity Group (PMBEJD). The index showed that in January 2024, the average cost of a household food basket was R5 324,86. Month-on-month, the food basket increased by R86.66 (1.7%), from R5 238.20 in December 2023 to R5 324.86 in January 2024. Year-on-year, it increased by R407.44 (8,3%), from R4 917.42 in January 2023 to R5 324.86 in January 2024. The food items that increased the most in price in January were potatoes by 13% and…