Star 2022-11-09

THE SOUTH African National Roads Agency Limited (Sanral) has confirmed that it will continue collecting e-tolls fees until the government decides otherwise. Sanral yesterday provided “clarity” on the next steps on Phase 1 of the Gauteng Freeway Improvement Programme (GFIP), colloquially known as e-tolls. In a statement, Sanral said that the GFIP Phase 1 was funded as part of the toll portfolio and not as a ring-fenced project. Finance Minister Enoch Godongwana last month announced that Sanral’s debt would be split 70/30 between the national and provincial governments, respectively. Sanral said the national government had affirmed that direct road user charges were the most effective, equitable and efficient way to finance road infrastructure. It said the decisions expected by the Gauteng government would include the treatment of legacy matters…

Engineering and contracting group sells Australian investment for A$350m THE MARKET yesterday cheered the announcement by Murray & Roberts (M&R) that it had agreed to sell its Australian subsidiary, Clough, to Webuild for R4 billion as it pairs debt and secures an urgent working cash injection. The news sent its shares surging to an intraday high of R6.10, rising by a whopping 32%. The shares closed at R5.42 on the JSE yesterday. They have dipped by 57.22% in the past six months. Henry Laas, M&R group chief executive, said: “This is a critical step, as the ERI (energy, resources and infrastructure) platform is in immediate need of a significant cash injection to service their order book and commercial commitments, which Murray & Roberts is not able to provide.” Yesterday,…

EMERGING economy leaders yesterday called for the developed world to fulfil its pledges and commitments toward financing initiatives aimed at dealing with climate change. The world leaders were delivering their national statements during the first part of the high-level segment of the 27th Conference of the Parties (COP27) United Nations Climate Change Conference (UNCCC) in Egypt yesterday. COP27 is a gathering of UN member states who have pledged to reduce greenhouse gas emissions to well below 2ºC and work hard to keep the 1.5ºC, in a bid to limit global warming. The Paris Agreement outlines long-term goals that guide governments towards limiting the global temperature increase to well below 2°C, while pursuing efforts to limit the increase even further to 1.5°C. According to a recent report by UK NGO Debt…

RENTAL property firm Hammerson’s share price surged almost 10% yesterday after it said rental collections had increased and were expected to improve even further. The shares traded at an intraday high of R4.87 but later closed lower at 7.32% up at R4.63. They have decreased by 21.02% in the past six months. In its third quarter trading, operational and rent collection update, the group said rent collections to date were at 93%. “Year-to-date, 221 leases have been signed, and this represents £17 million (R346.5m) of headline rent, 43% ahead of previous passing rent and 2% ahead of estimated rental value on a net effective basis.” More than half of leasing had been to non-fashion categories, including food and beverages, leisure and services. Best-in-class fashion brands and new concepts remained…

US-BASED South African playwright Nadia Davids tells a compelling story of a family forced to confront generational traumas as a result of the ongoing worldwide refugee crisis in her latest theatre production, Hold Still, which is at the Baxter Theatre until November 19. At the helm of this production is celebrated South African choreographer and theatre-maker Jay Pather. Speaking to IOL Entertainment about her vision for the play, Davids shared: “As the writer, the text is my concern, and so I work to get that as sharp, focused, and polished as I can. “Then, I hand it over to the director and the cast. If it’s in the right hands, the staging reveals moments, themes, and connections that surprise even me. For a writer, it’s magic when this happens, and…

One wouldn’t be wrong in assuming that Mel and Peet Viljoen were aware that investigative journalism television series Carte Blanche would be airing another episode about their business, Tammy Taylor Nails South Africa. The couple, part of the cast of Die Real Housewives van Pretoria (Rhopta)continue to say their piece on the reality TV show. In the latest episode, Mel confronted Rhona about what she has been saying behind her back. “The rumour going around is you think that our business, my husband, or I are doing something shady to get where we are. Did you say that?” Mel asked Rhona in a heated discussion at the dinner table. Rhona denied the accusation, but said she did say that “I don’t think we do business the same way”. Viewers weighed…