Sunday Tribune 2024-11-17

Ian Wyles would like to feature two properties that will go under the hammer during its auction on November 27 at 11am. The first is a liquidation matter that includes a general commercial building at 18-20 Burlington Road, Shallcross. The site has a total extent of 2 106m² with a gross lettable area of about 750m². It comprises: A double-storey building with 19 shop modules and ample parking Ground floor: A covered walkway Seven shop modules (31.9m² unit) One shop module (46.1m²) One shop module (29.7m²) One shop module (46.2m²) Upper level: Five shop modules (31.9m²/unit) One shop module (46m²) Two shop module (33.7m²/unit) One shop module (46m²) Ablutions (male and female) 42m² Access to the upper level is by a ramp with an exit ramp, leading to and…

IN2ASSETS Property Specialists will be auctioning 29 strategically located Telkom properties across South Africa, including valuable sites in the Western Cape, in its fifth portfolio disposal from the telecommunications giant. The sale, which will take place on December 5 at 11am, offers redevelopment opportunities for investors and developers alike. The auction will be live-streamed from the auction venue, ensuring both national and international participation. Among the properties going under the hammer, several standout Western Cape sites are set to attract attention: 1. 8 Jan Smuts Drive, Ndabeni, Pinelands Spanning approximately 26 363m², the extensive service yard features a double-storey office block, outbuildings and open workshops. The ample space provides numerous possibilities for commercial or industrial redevelopment, with prime access to key transport routes. 2. 130 Osborne Street, Bellville, Cape Town…

Recent data from The Marketing Research Foundation (MRF) has shed light on where South African consumers are directing their finances amidst growing economic pressures. As food, education and medical bills dominate spending, the country’s evolving landscape reflects significant shifts in consumer behaviour between July 2023 and June 2024. Johann Koster, the CEO of the Marketing Research Foundation, said, “Our MAPS dataset provides a holistic view of the South African consumer landscape. In addition to the interviews, over 10 000 leave-behind questionnaires are completed each year, enabling us to capture detailed information, from product categories and brands to behavioural and psychographic insights.” The report revealed that South Africa’s population aged 15 and above stands at 43 592 223, comprising of 18.5 million households with an average size of 3.7 people. The…

South Africa’s youth unemployment rate eased slightly in the third quarter of 2024, but millions of young people remain unemployed in a tough economic environment The South African Youth Economic Council (Sayec), responding to the quarterly Labour Force Survey (QLFS) released this week, warned that this is just not good enough. “Youth unemployment is not just a social challenge, but an economic liability that undermines South Africa’s potential for growth and stability,” it said in a statement. Statistics South Africa data showed the youth unemployment rate easing slightly from 46.6% in the second quarter of 2024 to 45.5% in the third quarter of 2024. The total number of unemployed youth (age 15 – 34) fell by 171 000 to 4.8 million while employed youth increased by 66 000 to 5.8…

South Africa’s mounting infrastructure challenges, the private sector has pledged its commitment to partnering with the government during the fourth State-Owned Enterprises (SOEs) conference held this week. This pivotal collaboration comes amid growing concerns that the government’s financial capacity to invest in infrastructure has dwindled significantly, with national debt skyrocketing from under 25% of gross domestic product (GDP) in 2008 to over 75% in 2023. Thuli Zulu, the divisional executive for client coverage at Nedbank, stressed that infrastructure development is a “shared responsibility” that necessitates urgent and concerted action from both the public and private sectors. “The government can no longer carry this burden alone,” Zulu stated, highlighting the stark reality that many SOEs, particularly Eskom, have accumulated debts that are strangling any potential for recovery. Zulu pointed to Eskom’s…

The African Group of Negotiators (AGN), led by Ambassador Ali Mohamed, this week issued a clarion call for substantial and immediate climate action at COP29 in Baku, Azerbaijan. Representing 54 African nations, the AGN highlighted Africa’s acute vulnerability to climate impacts and set forth key demands aimed at securing the continent’s future in the face of intensifying climate change. Speaking at the Joint Opening Plenary of COP29, Mohamed said, “COP29 must deliver meaningful results that send a clear signal of the multilateral system’s ability to address the most pressing global challenges effectively.” He outlined three primary goals critical to Africa’s climate agenda: ambitious climate finance, addressing loss and damage and advancing a just transition. The AGN’s top priority is achieving a robust and transparent climate finance goal that meets the…