Star 2024-05-16

HERITAGE Capital has invested in the specialised dairy sector with Fairview Cheese to mark the culmination of its maiden fund investment endeavours. Heritage Capital is a pioneering 100% black female-owned private equity fund manager that has investments ranging from heavy industrial applications to healthcare products. Since its inception in October 2017, Heritage Capital Fund I has been leveraging capital from investors such as the Transport Sector Retirement Fund. The infusion of additional institutional investors in May 2021 empowered the fund to broaden its investment horizon, focusing on sectors crucial for South Africa’s economic transformation, including industrial, services and consumer branded goods. Philile Maphumulo, a managing partner at Heritage Capital, said the fund was committed to fostering job creation, skills development and transformative impact within the South African economy. “Our investment…

ALTERRA Capital Partners has partnered with Mineworkers Investment Company and Admaius Capital Partners to acquire a majority stake in Chill Beverages from Old Mutual Private Equity. This acquisition by the Alterra Consortium marks the first investment by Alterra’s Africa Accelerator Fund and demonstrates the fund’s com- mitment to supporting African companies in their growth journeys. Chill is one of the most exciting beverage platforms in South Africa and operates in the fastest growing beverage segments through its range of Score energy drinks, Fitch & Leedes premium mixers, and Chateau Del Rei sparkling wine. Chill has market leading offerings, a national footprint, and world class production facilities, and the business has delivered historic growth in excess of 20% per annum. The company has manu- facturing facilities in Gauteng and the West-…

SOUTH Africa’s coal and platinum group metals (PGM) sectors will likely remain muted in terms of productivity and earnings for the remainder of this year, analysts at BMI Research said yesterday, citing the persistent challenges afflicting the industry and dim prospects for a quicker turnaround post the May 29 elections. This comes as PGM and coal production for South Africa fell 3.6% and 9%, respectively, during the quarter of March, dragging down overall mineral output to an 5.8% nosedive for the quarter compared to the year earlier, according to data from Statistics SA. Analysts at the Fitch Solutions-run BMI Research said yesterday that there was likely to be little respite for South Africa’s mineral productivity post this month’s elections in which the ANC is seen remaining in control of policy,…

SOUTH Africa’s retail trade sector is expected to detract from overall gross domestic product (GDP) in the first quarter of 2024, due to muted consumer spending after activity slowed on a quarterly basis. Statistics South Africa (StatsSA) said yesterday that seasonally adjusted retail trade sales decreased by 0.9% in the first quarter of 2024 compared with the fourth quarter of 2023. “Three of the seven retail groups reported negative growth rates over this period, with textiles and clothing the biggest drag on growth,” said Raquel Floris, StatsSA’s deputy director for distributive trade statistics. However, retail sales expanded by 2.3% year-on-year in March, following a revised decline of 0.7% in February, likely boosted by holiday-related consumer shopping activity. StatsSA said four out of seven categories recorded an increase in annual volumes.…

THE JSE RALLIED to its highest level in more than a year yesterday, mirroring its global peers, buoyed by resource-linked stocks on the back of the first monthly decline in US inflation since January. The All Share Index rose 0.9% to 79 361 points while the Top40 Index soared 1% to 73 142 points by 5pm, the highest the JSE has been since early February 2023. Gains in the local bourse were led by heavy metals groups Northam Platinum, which rose 5% followed by Sibanye-Stillwater at 5.5%, as gold prices held steady at $2 383 (R44 068) per ounce, while platinum also built on previous gain to $1 067 per ounce Vodacom, Anglo American Platinum and Discovery also saw their share prices rising by…

IN 2007, PROFESSOR Shadrack Gutto characterised land as a finite and indispensable asset that defines a people’s identity and provides human dignity. He avows that land is an integral component of national sovereignty and a basis for national cohesion. He articulated the words when he was asked to determine how much of the South African land was owned by foreign nationals. His research found that foreign natural persons owned about 3% of the country’s land, with a high proportion of coastal and game farmland. Parallel to the question of land ownership by foreign nationals is the question of how much of the country’s land is owned by black people. Wandile Sihlobo and Johan Kirsten have attempted to assist with this question and estimated that approximately 25% of the country’s land…