Cape Times 2022-11-09

THE SOUTH African National Roads Agency Limited (Sanral) has confirmed that it will continue collecting e-tolls fees until the government decides otherwise. Sanral yesterday provided “clarity” on the next steps on Phase 1 of the Gauteng Freeway Improvement Programme (GFIP), colloquially known as e-tolls. In a statement, Sanral said that the GFIP Phase 1 was funded as part of the toll portfolio and not as a ring-fenced project. Finance Minister Enoch Godongwana last month announced that Sanral’s debt would be split 70/30 between the national and provincial governments, respectively. Sanral said the national government had affirmed that direct road user charges were the most effective, equitable and efficient way to finance road infrastructure. It said the decisions expected by the Gauteng government would include the treatment of legacy matters…

Engineering and contracting group sells Australian investment for A$350m THE MARKET yesterday cheered the announcement by Murray & Roberts (M&R) that it had agreed to sell its Australian subsidiary, Clough, to Webuild for R4 billion as it pairs debt and secures an urgent working cash injection. The news sent its shares surging to an intraday high of R6.10, rising by a whopping 32%. The shares closed at R5.42 on the JSE yesterday. They have dipped by 57.22% in the past six months. Henry Laas, M&R group chief executive, said: “This is a critical step, as the ERI (energy, resources and infrastructure) platform is in immediate need of a significant cash injection to service their order book and commercial commitments, which Murray & Roberts is not able to provide.” Yesterday,…

EMERGING economy leaders yesterday called for the developed world to fulfil its pledges and commitments toward financing initiatives aimed at dealing with climate change. The world leaders were delivering their national statements during the first part of the high-level segment of the 27th Conference of the Parties (COP27) United Nations Climate Change Conference (UNCCC) in Egypt yesterday. COP27 is a gathering of UN member states who have pledged to reduce greenhouse gas emissions to well below 2ºC and work hard to keep the 1.5ºC, in a bid to limit global warming. The Paris Agreement outlines long-term goals that guide governments towards limiting the global temperature increase to well below 2°C, while pursuing efforts to limit the increase even further to 1.5°C. According to a recent report by UK NGO Debt…

RENTAL property firm Hammerson’s share price surged almost 10% yesterday after it said rental collections had increased and were expected to improve even further. The shares traded at an intraday high of R4.87 but later closed lower at 7.32% up at R4.63. They have decreased by 21.02% in the past six months. In its third quarter trading, operational and rent collection update, the group said rent collections to date were at 93%. “Year-to-date, 221 leases have been signed, and this represents £17 million (R346.5m) of headline rent, 43% ahead of previous passing rent and 2% ahead of estimated rental value on a net effective basis.” More than half of leasing had been to non-fashion categories, including food and beverages, leisure and services. Best-in-class fashion brands and new concepts remained…

IF ANC alliance partners have their way, President Cyril Ramaphosa would not be standing for a second term as party leader at the party’s 55th elective conference next month. This week, the ANC Youth League national task team said it preferred Dr Zweli Mkhize to become president of the party. The ANC Women’s League was supposed to hold a press conference to announce its preferred candidate yesterday, but cancelled at the last minute. But insiders said it preferred Dr Nkosazana Dlamini Zuma. At the same time, tripartite alliance partners SACP is considering to enter the 2024 general election, supported by Cosatu. The ANC Veterans League hinted that Ramaphosa was not its preferred candidate. In a statement issued by the ANC Youth League yesterday, it expressed its wish for Mkhize to…

THE lawyer representing the man convicted on 93 counts of rape, sexual assault, kidnapping and theft has pleaded with the judge to allow his client to consult psychological and social experts before sentencing him. Nkosinathi Phakathi appeared before the Palm Ridge Magistrate’s Court on Tuesday and was found guilty of multiple counts of rape, sexual assault and kidnapping. Some of the cases date as far back as 2012, with some of his victims as young as 9. Phakathi pleaded guilty to most of the charges, including rape, sexual assault and kidnapping. According to Judge Lesego Makolomakwe, Phakathi admitted he unlawfully committed these crimes without the consent of the victims. Phakathi was arrested in March last year after nine years of terrorising women and children in and around Ekurhuleni.…