Star 2024-10-25

The investment case for South Africa is the best in over a decade, Valdene Reddy, the director of capital markets at the JSE, said yesterday ahead of the SA Tomorrow Conference to be held in New Yorknext week. The JSE, alongside co-sponsors Standard Bank, Old Mutual, and UBS, is set to host the 11th annual SA Tomorrow Conference on October 28-29, before the Medium-Term Budget Policy Speech (MTBPS) next Wednesday, with the aim of showcasing South Africa’s potential as a viable investment destination. “This year’s conference comes at an opportune time, when South Africa has started to outperform even global markets. From April to December, we’ve seen South Africa outshine key emerging markets like Brazil, Mexico, Saudi Arabia and India,” said Reddy in an interview with Business Report. “Our normalised…

Wholesale sector will gain additional sales of R32.1bn, with an additional R6.2bn in fuel sales As anticipation starts building for Black Friday specials when items are expected to be heavily discounted on November 29, new research suggests that consumers seem to be more interested in the annual sale than in any of the past three years, which could add R88 billion to the economy. Research conducted by the Bureau of Market Research (BER) for fintech Capital Connect released yesterday that retailers in South Africa will generate R22bn in additional direct revenues because of Black Friday sales this year, which will also generate R28bn in indirect economic impact. In this same period, the wholesale sector will gain additional sales of R32.1bn, while there will be an additional R6.2bn in fuel sales.…

Clicks Group’s resilience in tough consumer environments was proven again in the year to August 2024 after it lifted trading profit by 15.1% to R4.2 billion for the year to August 2024, expanding margins, generating strong cash flows and delivering industry-leading shareholder returns. The results were above management expectations and continued a trend where the group has produced an 18.5% compound annual growth rate in shareholder returns over 10 years, which was well ahead of the average 5.1% return of the Top 40 companies over the same period and 7.1% return from the group’s peers, CEO Bertina Engelbrecht said in an interview yesterday. “We have long-term shareholders and they have done well. Our biggest shareholder is the PIC (Public Investment Corporation), and we are one stock that the Government Employee…

The National Empowerment Fund (NEF) has taken a transformative step in supporting black female entrepreneurship in South Africa by finalising a significant investment in Makwande Supply and Distribution. Established in 2009 and based in Alrode, Gauteng, this 100% black woman-owned company has seen remarkable growth, highlighting a commitment to safety and sustainability in the competitive field of petroleum logistics. With depots spreading across Mpumalanga, Free State, and Limpopo, the NEF’s financial backing marks a pivotal moment in the company’s journey, bolstering its operational capabilities in a rapidly evolving market. After the NEF funding in May last year, Makwande has not only maintained its workforce but has also created new employment opportunities within the community. Nona Chili, the owner of Makwande, expressed her gratitude for the NEF’s support. “This investment has…

The Eskom Multi Year Price Determination (MYPD6) is finally officially in the public domain. The proposed electricity tariff increases for the next three financial years, starting on the 1 April 2026, have gone out with public submissions open until 4pm on 1 November. The impact of MYPD6 stretches beyond the price changes, critically, it’s about Renewable Energy project viability. An under estimation of the potential impact to the viability of Renewable Energy projects across all installation sizes, based on changes in the Eskom Megaflex tariff will have a resulting impact on other tariffs – including Municipal tariff structures. MYPD6 details Eskom Holdings price increases based on the historically used NERSA (National Energy Regulator of South Africa) approved cost plus return on asset base (RAB) methodology to get to a revenue…

Westfalia Fruit, a prominent global supplier of avocados and fresh fruits, recently marked a significant milestone with the arrival of its inaugural container of South African Hass avocados in India on Tuesday. This shipment not only underlines the company’s robust export efforts but also highlights the immense potential within the South African avocado industry. This news comes shortly after Westfalia announced the successful shipment of avocados to a completely different market—China—earlier this month. The dual achievements underscore Westfalia’s commitment to expanding its international footprint and delivering high-quality produce to diverse markets around the globe. Zac Bard, business development executive at Westfalia Fruit, expressed their enthusiasm for this monumental step. “This achievement highlights our dedication to expanding our global footprint and delivering top-quality produce to new markets,” Bard stated. “We look…