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Equites sells UK property to Lidl for R1.55bn

JSE-listed real estate investment trust Equites Property Fund says its subsidiary Equites Newlands Group (ENGL) has sold the 16.19 ha Equites Park, in Basingstoke, in the UK, to fresh produce retailer Lidl Great Britain for R1.55-billion. The expected post-tax profit attributable to Equites from the transaction is £20.8-million, or R400-million, which will contribute significantly to growth in net asset value (NAV) a share in the current financial year (2023), the company says.

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Magway secures its first big (Fortune 500) customer

UK-based sustainable logistics company Magway has secured its first commercial customer in the form of a large Fortune 500 multinational group, says CEO and founder – and South African – Rupert Cruise. Magway is a zero-emission delivery system (when powered by renewable energy), consisting of carriages running at speed, on a track, on a network of overground or underground pipes that are around one meter in diameter. 

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Sugarcane farmers report extensive damage, AgriSA calls for road repairs as a priority

Sugarcane farming industry body South African Cane Growers (SA Canegrowers) says preliminary results from a survey of KwaZulu-Natal cane growers reveal extensive damage from the recent flooding to cane fields, farm infrastructure and access routes to deliver cane to mills. By the afternoon of Tuesday, April 19, more than 300 growers had responded to the survey and reported that 2 516.65 ha of cane had extensive crop and root damage, therefore requiring the total replanting of these fields to bring them back into production.

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Michelin Tyres South Africa achieves Level 1 BBBEE certification

Tyre manufacturer and mobility company Michelin Tyre Company South Africa has attained Level 1 broad-based black economic empowerment (BBBEE) certification, which is the result of its four-year transformation journey started by executing a new people, profit and planet strategy in South Africa, which is aligned with the Michelin Group’s global vision. Michelin’s commitment to BBBEE is aligned to its purpose of giving people a better way forward. This is why the company made a concerted effort to focus on all the pillars of the BBBEE Codes of Good Practice, including recently concluding an ownership transaction.

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KZN floods see Grindrod suspend operations at five sites for several weeks

JSE-listed freight and logistics group Grindrod says its container depots, terminals and warehouse facilities in and around central Durban have been heavily impacted by the recent floods in KwaZulu-Natal, with operations at five sites suspended – “and likely to be so for several weeks”. “We are grateful that all our staff, and our service providers’ staff, are accounted for and are safe,” notes the company.

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Durban harbour is fully functional, Gordhan says

From the perspective of State-owned Transnet National Ports Authority (TNPA), Durban harbour is fully functional, with gradual improvements expected to take place where gaps in functionality occur, Public Enterprises Minister Pravin Gordhan said during a media briefing on April 19. “Ships are coming in, ships are going out and the necessary work is being done by the TNPA to ensure the harbour is in the state where it can be used,” he said, providing an update on operations following the severe weather and rainfall in KwaZulu-Natal last week.

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JRA repairing sinkholes caused by illegal mining near Booysens road

The Johannesburg Roads Agency (JRA) says it is prioritising the repair of four sinkholes along John and Webber streets, near Booysens road, in Selby, Johannesburg, that developed as a result of illegal mining activities in the vicinity. Repairs to damaged stormwater infrastructure and road surfaces are currently under way. The sinkholes have been identified and barricaded.

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Former PRASA boss must be reinstated, arbitration hearing finds

Axed Passenger Rail Agency of South Africa (PRASA) CEO Zolani Matthews is free to return to his office following an arbitration ruling in his favour. Matthews was placed on precautionary suspension in November last year over a security clearance issue which was related to his dual citizenship. His UK citizenship was reportedly not disclosed to PRASA upon his appointment. His contract of employment was later terminated when the State Security Agency (SSA) declined Matthews’ top security clearance.

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