Rennie Property Blog

ATM Withdraw Costs up 4%

admin — Wed, 16 May 2012 10:35:54 +0000

The average April cash withdrawal value increased by 4.03% month on month to R435.47, according to the latest Spark Cash Index (SCI), which measures the average value of cash withdrawals across more than 1,500 Spark ATMs throughout the country.

This is the highest average cash withdrawal value in the history of the SCI for the month of April, and was boosted by a host of public, school and religious holidays.

The SCI also revealed a year-on-year increase of 3.02% in ATM withdrawal activity for April 2012.

Marc Sternberg, MD of Spark ATM Systems said that it was also the highest average withdrawal value in six years for any month, with the exclusion of the December months, which suggested that consumers increased their spending during their time off from work in April. read more….

Connect SA Telecoms

admin — Tue, 15 May 2012 10:35:53 +0000

Between R60 to R89 billion would need to be invested to build a telecommunications broadband network throughout the country and to reduce connectivity costs, says Communications Minister Dina Pule.

Speaking at a press conference following her delivery of the communications budget vote speech in Parliament on Tuesday, Pule said that was the major reason why communications had to have a prime seat on the Presidential Infrastructure Co-ordinating Commission. read more….

Africa ripe with prospects

admin — Mon, 14 May 2012 10:45:25 +0000

Structural changes in the global economy could position Africa as a significant player, Deputy President Kgalema Motlanthe said on Wednesday.

“The demand for Africa’s natural resources, particularly from emerging economies in the south, offers renewed opportunities for Africa’s developmental prospects,” he said in a speech prepared for delivery at the Council on Foreign Relations in Berlin, Germany. read more…

Shares of South African gold miners fall.

admin — Fri, 11 May 2012 10:35:51 +0000

Shares of South African gold miners fall on Wednesday as the spot price wilts to a 4-month low, pressured by a weaker euro and worries about political upheaval in Greece.

At 10:50 SA time, world No. 4 producer Gold Fields was 1.79 percent down to 97.82 rand, making it the biggest loser among the bourse’s Top 40 index , which was 0.18 percent lower.

Africa’s top producer AngloGold Ashanti was down 1.06 percent while Harmony Gold, which earlier reported better-than-expected quarterly earnings because of a deferred tax credit, was 0.49 percent lower.

Spot gold was at $1,583.96 an ounce, a level unseen since early January, extending a 2-percent slide from the previous session. Article

Aviation Incident

admin — Thu, 10 May 2012 10:35:50 +0000

Over the years we’ve seen a relatively large number of approach accidents involving aerodynamic stalls during the last moments of instrument approaches. The airplanes involved — often turboprops — are typically flown by experienced, professionally qualified pilots who somehow get behind the situation as they transition from instruments to visual reference. More often than not, the operation is single pilot.

This month, we’ll look at the investigation into the loss of Mitsubishi MU-2B-60 N80HH. The pilot and three passengers were killed when the aircraft crashed during an instrument approach to Runway 07 at Lorain County Regional Airport (LPR) in Elyria, Ohio. This accident is in no way extraordinary, and that is what makes it worth reviewing, I think. Perhaps in examining the investigator’s findings, you’ll come away with the sense that the last moments of an instrument approach are always the most critical.

Rural areas need commercial bank

admin — Wed, 09 May 2012 10:40:20 +0000

KwaZulu-Natal Premier Zweli Mkhize, left, is joined by Co-operative Governance MEC Nomusa Dube, Speaker of the legislature Peggy Nkonyeni and King Goodwill Zwelithini during Wednesday’s official opening of the provincial House of Traditional Leaders in Ulundi, KZN.

Zulu monarch King Goodwill Zwelithini, has called for the establishment of a rural development bank to help rural communities in KwaZulu-Natal who are not served by the major commercial banks.

Speaking on Wednesday, at a conference titled “Rethinking Rural Development in KwaZulu-Natal”, Zwelithini said the proposed co-operative bank would have to focus on financing rural development projects.

The three-day conference, which was organised by the king and the Ingonyama Land Trust, marks the official launch of the Ingonyama Rural Development Forum, an informal network of traditional leaders, experts, research institutions, businesses and policy-makers charged with crafting policies to speed up rural development in KZN.

In his address, the king urged traditional leaders and various experts on development to work together towards the setting up of the bank.

Pan Africa Shopping Centre grows bigger

admin — Mon, 07 May 2012 10:21:54 +0000

Mr Price Weekend, Truworths and Edgars Active all opened today (26 April 2012) in the iconic Pan Africa Shopping Centre in Alexandra, north of Johannesburg, as its new expansion launched to customers.

Only three years after its successful opening in 2009, this shopping centre is expanding in response to demand from both shoppers and retailers.

Bandile Nyembe, Pan Africa Shopping Centre Manager, says the new expansion creates increased retail variety which will go even further to meet the consumer needs of Alexandra residents, and everyone who shops at this commuter retail centre. “We’re proud to give customers even more choice, value and one-stop shopping,” reports Nyembe.

Road Names Get a Revamp

admin — Fri, 04 May 2012 10:21:54 +0000

The Tshwane Metropolitan Municipality says it will continue with the process of changing street names following the ruling by the Northern Gauteng High Court in favour of the city allowing it to continue with street name changes.

The ruling on Monday followed a bid by Afriforum to have an interdict granted against the city changing certain street names.

The city, which welcomed the court ruling, said it would continue with the process of changing 28 street names. It had already started the process.

Vacancies in Cape Town Office Market

admin — Thu, 03 May 2012 10:21:53 +0000

The first quarter of 2012 has seen a continuation of flat market conditions in Cape Town for the office sector with vacancies in certain nodes showing increases on the previous quarter’s figures.

Dave Russell, a director of Baker Street Properties, says,” We have seen a steady increase in office vacancies since 2009 as confirmed in the quarterly SAPOA Office Vacancy Survey, however, with few new buildings coming on stream in the short term there is every possibility that vacancies may be reaching their peak.”

Russell adds that significant change has been recorded in the CBD, where combined vacancies are now reaching 12% and are at levels last seen in 2003. Of greater concern is that in Claremont combined vacancies are heading towards 20%. This is up from 13.7% in the previous quarter.

Woolworths Grows, Pick N Pay Shrinks

admin — Wed, 02 May 2012 10:23:06 +0000

Woolworths, a food and clothing retailer, opened its first supermarket as it seeks to take on Shoprite Holdings and Pick n Pay Stores for customers that shop weekly.

The expansion comes three days after Pick n Pay, usually associated with supermarkets, announced plans to convert 120 BP Express stores in gas-station forecourts into its own outlets over the next five years. Pick n Pay, based in Cape Town, last year opened a store aimed at high-income earners on the same Johannesburg road where the new Woolworths supermarket is situated.

“Woolworths is moving toward the bigger store model to try and gain market share at a time when Pick n Pay is weak,” Avior Research retail analyst Michael McLeod said in an e-mailed response.