market intelligence
Private sector dominates investment in South Africa
The private sector is continuing to carry the lion’s share of capital investment in South Africa, increasing its spending on infrastructure, software, research and development investments. This comes as public corporations (SOEs) spend on infrastructure continues to fall. This according to Investec Chief Economist Annabel Bishop who said that “the private sector continues to drive capital investment in South Africa, contributing over 70% to growth in fixed investment… Read more
Historic wage agreement reached in metals and engineering sector A landmark three year wage agreement has been signed between Seifsa, representing many employers in the metals and engineering sector, and Numsa, the largest trade union in the industry. The agreement, hailed as a testament to the commitment of social partners, was reached in record time and without any industry disruption. This agreement sets out pay rises based on the lowest planned rates of pay for the next three years... Read more
Astron Energy, BP, and Engen announce big plans for South Africa Astron Energy, BP, and Engen announced their plan to invest significantly in their domestic operations. This comes after news broke that rival fuel franchise Shell is exiting South Africa and selling its 600-plus forecourts and service stations. Astron Energy is one of the newer players in the fuel game, having taken over Caltex’s local infrastructure in August 2022. With over 800 retail sites, a blending plant in Durban, and a refinery in Milnerton, it is one of the few industry participants that is currently refining its fuel instead of relying on imports – an area in which it sees plenty of potential… Read more
Volkswagen announces R4-Billion Kariega plant investment
Volkswagen Group Africa has announced a R4-Billion investment in its manufacturing plant in Kariega, in the Easter Cape. The investment will be used to upgrade facilities in various areas in preparation for the addition of a third car model to its production line-up from 2027. Most of the R4-Billion investment will be allocated to capital expenditure for production facilities, manufacturing tooling, local content tooling and quality assurance… Read more
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Issue 2 – 2024
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