Hits&Misses

Business-state collaboration bears fruit; Cape storms hammer Transnet

ORGANISED business said its joint effort with the government to solve the country’s challenges has been “extremely productive” and could result in an end to power outages and to more efficient logistics by the end of next year. This collaboration was initiated in June in a bid to grow the economy and restore public and investor confidence by addressing the challenges of energy, logistics, crime and corruption.

TAKE-HOME pay improved for a second consecutive month in August, an indication that some industries have reduced their energy dependence on Eskom, a survey has found. After a notable uptick in July, BankservAfrica’s takehome pay index shows the average nominal takehome pay increased to

R15,578 in August — 5.8% higher than a year earlier — and up from July’s R15,525. THE mood of the civil construction industry rose to a six-year high in the third quarter, supported mainly by a continued rise in construction activity and lower tender competition. The FNB/BER civil confidence index showed a marginal increase to 43 points from 41 in the three months ending June. TRANSNET said severe

weather had disrupted rail services on its Cape corridor, the main line for manganese exports and agricultural commodities. The Western Cape and Eastern Cape were hit by heavy rains that caused flooding and left 11 people dead. Housing, power lines, roads and rail lines were damaged.

SOUTH Africa is an outlier for crime in Southern Africa, with the situation worsened by state-embedded actors working in cahoots with criminal networks, according to the Global Organised Crime Index 2023. Its “criminality” score is seventh highest among 193 UN members and is the worst in Southern Africa, the Global Initiative Against Transnational Organised Crime says. South Africa was greylisted in February by the Financial Action Task Force for failing to comply with international standards.

THE debt-ridden

Rebosis Property Fund announced the sale of four more of its properties for R160m — close to only half its value

— as the company seeks to sell off assets as part of its business rescue process. –