infrastructure investment financial management

Unprecedented Fiscal Feat: Cape Town’s History-Making Investment in Infrastructure

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Cape Town City has made an unprecedented R9.4bn investment in infrastructure for the 2023/24 financial year, with 94% of the budget already disbursed or contractually designated. The investment aims to enhance water security, energy security, and public transport, while also creating thousands of affordable housing opportunities and safer communities. The construction industry alone is set to generate approximately 130,000 jobs, making a substantial impact on the city’s employment surge. Mayor HillLewis has appealed for additional funding from the National Treasury to further advance the city’s ambitious infrastructure upgrade plans.

eskom energy availability factor

A Revolutionary Transformation: Eskom’s Strides in Energy Availability

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Eskom, South Africa’s national power corporation, has achieved a significant improvement in energy availability, with an Energy Availability Factor (EAF) of 70.78%, ending nearly three years of struggle with power supply. This progress is credited to the initiatives implemented by the current Eskom board, including solidifying the management team, implementing performancebased incentive bonuses, and identifying critical power stations requiring immediate attention. Eskom’s dependence on Open Cycle Gas Turbines (OCGTs) has also lessened due to the improved performance of its coal fleet, resulting in lower diesel usage and greater efficiency. The contribution of businesses and renewable energy sources also signals a hopeful outlook for the future of South Africa’s energy sector.

south africa gig economy

South Africa’s Booming Gig Economy: A Game Changer

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The gig economy in South Africa is booming, with an estimated 4 million gig workers in the country. This flexible work arrangement covers a wide range of professionals and offers a lucrative platform for businesses targeting freelancers. Financial management for gig workers can be complex, but startups like Craft are providing solutions to make transactions smoother and facilitate financial management. The gig economy is set to reshape the idea of work in the upcoming years and is a major component of South Africa’s employment scene.

property market entrepreneurship

Willard Katsande at Risk of Losing Second Home in Johannesburg

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Zimbabwean footballer, Willard Katsande, known for his time with the Kaizer Chiefs, faces the possibility of losing his second home in Johannesburg. In February, The South African reported that the former defender’s R2 million house was at risk. Recent reports from Zimoja reveal that Katsande’s second residence went up for auction on 25 July. However, the auction proved unsuccessful as the reserve price of R1,667,418.15 was not met.