Finweek English Edition - - THE WEEK -

0The Nelson Man­dela Met­ro­pol­i­tan Mu­nic­i­pal­ity, which is ex­pected to be fiercely con­tested be­tween the DA and the ANC in the up­com­ing lo­cal elec­tions, handed over zero ti­tle deeds to res­i­dents over the past two fi­nan­cial years, Busi­ness Day re­ported. In to­tal, South Africa’s eight met­ro­pol­i­tan mu­nic­i­pal­i­ties handed over only 28 232 ti­tle deeds to re­cip­i­ents be­tween 2013 and 2015. On av­er­age, about 18% of house­holds in met­ros are in in­for­mal set­tle­ments, ac­cord­ing to Statis­tics SA data. In Jo­han­nes­burg, only 1 758 ti­tle deeds were handed over to re­cip­i­ents last year. In or­der to clear the hous­ing back­log, the city should be de­liv­er­ing 200 000 ti­tle deeds a year, DA spokesman for hu­man set­tle­ments Makashule Gana said. France’s Groupe FNAC has upped its bid for elec­tri­cal goods re­tailer Darty, trump­ing Stein­hoff’s $1.2bn bid, made on 21 April. Stein­hoff also in­creased its stake in Darty to 20.4% by buy­ing shares on the open mar­ket, Busi­ness Day re­ported. The French group de­clared its lat­est of­fer its last, and said it had the back­ing of share­hold­ers ac­count­ing for 40.38% of Darty’s cap­i­tal. Trade unions, how­ever, said they are back­ing Stein­hoff’s bid, which they see as more pos­i­tive for jobs, the pa­per re­ported.

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