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Nedbank benefits from home loans division

Nedbank Group, one of South Africa's so-called "big four" banking groups. After shunning the retail sector several years ago, Nedbank is finally benefiting from a remarkable R700m turnaround in the home loans division, among others. ... Full story

Rael Levitt steps down

The Board of Auction Alliance has agreed that Rael Levitt will step down as its Chief Executive Officer with immediate effect, pending the outcome of the independent investigation.

Auction Alliance boss blasts claims of fake bidders

RAEL Levitt, the head of Auction Alliance, has offered to open his company’s books to investigators after allegations of improperly driving up auction prices and paying kickbacks – claiming this will prove that his company is clean.

Auction Alliance Board statement on recent allegations

The Board of Directors of Auction Alliance has commissioned an investigation by an independent company into allegations that have been leveled against the firm in recent weeks.

Group Five sees slow recovery in second half

Group Five CEO Mike Upton says although the first half of the financial year was "somewhat disappointing," he is encouraged by the uptick in the order book and expects a slow recovery in the second half of the year.

Improvon’s Montague Park set to be a multi-use development success

The Western Cape’s Montague Gardens recently welcomed an innovative multi-use development to the area in the form of Montague Park.

PIC to restructure debt at AfriSam

The Public Investment Corporation (PIC), the government pension fund manager, now holds about 99% of the equity in SA’s second-largest cement maker, AfriSam, with the PIC having exercised its right to turn R4,7bn of debt into equity, while retaining the black economic empowerment status of the company.

Holcim ‘accusing PIC of nationalising AfriSam’

Public Investment Corporation, which manages about R1-trillion in South African state pensions, wants to restructure more than R20bn of AfriSam near-term debt into equity, to keep it from bankrupting the company

SAPOA appoints new Board Members

The South African Property Owners Association has appointed two new members to its Board of Directors - Marius Muller and Mike Deighton.

Dipula Income Fund lists on the JSE Limited

Property loan stock Dipula Income Fund today listed on the JSE Limited, under the Real Estate Holdings and Development sub-sector. Prior to listing Dipula raised nearly R1,4-billion through a successful private placement.

Dipula announces an experienced and esteemed board of directors

Dipula Income Fund, which is anticipated to list on the JSE soon, has announced a Board of Directors which encompasses an impressive depth of relevant expertise and pertinent experience.

Moody's announces Redefine's credit rating

Redefine is well positioned to access alternative unsecured funding markets such as corporate bonds cost effectively, following the announcement of the company’s credit rating assessment by Moody’s.

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