A new government agency to fund small businesses was launched in Cape Town on Monday.

The Small Enterprise Finance Agency (Sefa) would focus on small scale manufacturing, agro processing, services in infrastructure development, mining services, the green economy and tourism, said Economic Development Minister Ebrahim Patel.

It would be a wholly-owned entity of the Industrial Development Corporation (IDC).

“The rationale for the new agency is to tap into the resources of the IDC to provide a better service to small business,” Patel said at Sefa’s launch.

Sefa was formed from an merger of three public organisations, Kula Enterprises, the SA Microfinance Apex Fund and the IDC’s Small Business Levy Book.

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Imagine browsing knife sets in an airport and then ordering one before you board your plane, or going to a department store to look at makeup without having to bounce from counter to counter to check out each brand’s selection.

U.S. companies including Macy’s, HSN and Adidas are building large, TV-like interactive screens to give consumers experiences like these in an ever-increasing effort to bring the convenience of online shopping to the offline world.

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The first Quarter 2012 FNB Gauteng Estate Agent survey on Thursday revealed a mildly positive national view of the domestic residential property market, thanks to the significant improvement of market perceptions from Gauteng’s estate agents.

By comparison, the coastal metro regions agents’ market perception remained more subdued.

Completed in February, the survey is of a sample of estate agents predominantly in SA’s major metropolitan regions of Gauteng, Cape Town, eThekwini and Nelson Mandela Bay.

The survey asked agents what their perceptions of residential demand in their areas were on a scale of one to 10.
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Deputy President Kgalema Motlanthe says government is ready to roll out the country’s infrastructure plan announced by President Jacob Zuma in his State of the Nation Address earlier this year.

Government on Friday unveiled its infrastructure plan for the country, which it hopes to take to the provinces and various other stakeholders for implementation.

It lists 17 strategic integrated projects that cut across from rail, road, schools and hospitals construction. The projects cover a range of economic and social infrastructure across all nine provinces with emphasis on poorer regions.

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South Africa’s economy is improving but is vulnerable to problems in the Eurozone, says Finance Minister Pravin Gordhan.

“Economic growth is reasonably stable,” Gordhan said at the Foreign Correspondents Association breakfast meeting in Johannesburg on Monday.

“Like many other parts of the world, the economy is still subject to the vagaries of the global economy, in particular the European situation. From our point of view, we look forward to a far more clear set of actions coming from European countries that will give markets the certainty they require.”

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Apr 16, 2012: Despite recent press coverage and negative sentiment surrounding the auction industry, the local market’s appetite and confidence for buying through auction remains healthy, if  The High St Auction Co’s last auction is anything to go by. 21 lots with a combined market value of R114 million went under the hammer on the day.

Joff van Reenen, Lead Auctioneer for The High St Auction Co comments, “Over 350 people attended the auction, with 70 registered bidders on the day. This robust demand and keen willingness to participate in the auction was a clear indication that there is no crisis of confidence. The High St Auction Co is a young brand, but operating in a transparent and forthcoming manner, has resulted in confidence by both buyers and sellers. By not being bound by old school auction paradigms we have established ourselves as a market leader.”

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South African Gold Companies are being encouraged to change their manner of operations due to a long term weak value for gold.

GOLD companies, especially in South Africa, are being urged to consider a return to hedging because of the weak longer-term price outlook for the metal, particularly when interest rates in the US and Europe start rising again.The warning on Wednesday, from Paul Walker, global head of precious metals at Thomson Reuters GFMS, comes amid predictions of a sharply lower gold price.
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