Star 2025-01-08

JSE-listed Schroder European Real Estate Investment Trust has disposed of its retail asset in Frankfurt, Germany, for R228 million, the company said yesterday, highlighting that this was in line with a valuation carried out in September last year. Schroder European REIT invests in real estate assets in growth cities across Europe. It said yesterday that it had sold off a “grocery-anchored retail asset” in Frankfurt, Germany, for €11.8 million. The 4 525 square meter asset disposed of was acquired in April 2016 for about €11m. “This asset was acquired in April 2016 and has provided the company with a stable income stream over the eight years of ownership. Following the completion of our asset management plan, and given the limited scope for future rental growth, we felt that now was…

As the public anxiously awaits the release of a lengthy document detailing PwC’s investigation into Steinhoff’s spectacular collapse, Business Report has submitted a Promotion of Access to Information Act (PAIA) request to secure a copy of the 7 000-page document. On December 4 last year, the Supreme Court of Appeal ordered the release of the report to three media outlets and veteran journalist Rob Rose. The document is currently in the possession of Ibex Holdings, which received it in 2023 because of a restructure of the Steinhoff Group, resulting in Ibex owning parts of Steinhoff. Steinhoff was South Africa’s biggest corporate scandal when it collapsed after Deloitte confirmed there were accounting irregularities in 2017. The multinational holding company was listed in Germany and South Africa, and was officially liquidated on…

Tencent says there will be no commercial impact on the company as it has no business in the US The placing of tech giant Tencent on the United States’ Department of Defence list of companies allegedly aiding the Chinese military has affected the net asset value of JSE-listed Prosus and Naspers while also shaving off some shine off the companies’ stocks. The US yesterday announced that it had added Tencent to the Chinese Military Company (CMC) list, along with a few other Chinese companies such as CATL and Autel Robotics Co. However, a presence on the CMC list has no legal ramifications according to analysts and a spokesperson for Tencent said there will be no commercial impact on the company as it has no commercial undertakings in the US. Market…

Market watchers yesterday acknowledged that there was a lot of uncertainty regarding US President-Elect Donald Trump policies with foreign countries, but the economists remained confident of a 25 basis points interest rate cut in South Africa later this month. Neil Roets, CEO of Debt Rescue SA, said the question of whether Trump’s presidency could influence South Africa’s interest rate decisions was a valid one, given the interconnected nature of global economies. “While the South African Reserve Bank (Sarb) bases its decisions on local economic conditions, global factors, including the policies of major economies like the US, can’t be ignored,” he said. Roets added that Trump’s proposed trade tariffs could disrupt global trade, slow economic growth, and even push inflation higher in some regions. “These uncertainties could indirectly affect emerging markets…

The South African technology sector is undergoing an extraordinary transformation, marked by a surging demand for skilled professionals across diverse industries. For matriculants, this dynamic shift offers a rare opportunity to enter a rapidly growing field that is increasingly placing value on hands-on experience over traditional academic qualifications. The Rising Demand for Tech Skills South Africa, like many countries, is facing a significant shortage of tech talent. As companies across various industries continue to integrate technology into their operations, the need for skilled professionals has skyrocketed. Yet, the supply of qualified individuals has lagged behind, creating a unique opportunity for matriculants to step into this gap. This demand-driven industry places immense value on practical experience and problem-solving abilities, enabling matriculants to launch promising careers with targeted, short-term online courses rather…

Developers and web operations (WebOps) specialists face a challenging year as organisations strive to drive more value from their ICT investments, ramp up cloud migration, fortify cybersecurity, and address sustainability and environmental imperatives. Here are five software skills we believe will be essential in 2025. 1. Cloud development and operations From remote work to digital transformation, the cloud underpins almost every business’s IT strategy today. It allows businesses to rapidly develop and deploy market-ready systems while taking advantage of the inherent flexibility, scalability, and resilience of as-a-service computing models. Yet almost 100% of organisations say implementing cloud technology is tricky, with managing costs and wastage being among the most significant challenges. Digital experts who can help enterprises use and provision cloud-based services efficiently will be in high demand. These experts…