Vukile Property Fund (JSE: VKE) has proposed an equity raise of approximately R1 300 million. Of that amount, Encha SPV can acquire R250 million of equity.

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Growthpoint Boss Lauds Positive Results

Friday, 02 March 2018 00:00

Written by Alistair Anderson (This email address is being protected from spambots. You need JavaScript enabled to view it.)

This article appeared on page 9 of the Companies & Markets Section of Business Day, 1 March 2018.

SA’s largest property company, Growthpoint Properties, is sticking to its knitting and not taking any extraordinary risks while its competitors face a host of challenges, according to CEO Norbert Sasse.

Sasse spoke on the sidelines of the release of the group’s financial results for the six months to December, which he said was the toughest half-year period for the real-estate investment trust (Reit) since the 2008 recession.

Growthpoint posted distribution growth of 6.5% per share, meeting its guidance, while it grew its asset base to R127.7bn.

Similar dividend growth was expected for the full year to June 2018.

Growthpoint increased its total distributable income by 10.6% from its prior half year to a substantial R2.9bn.

Group property assets increased 4.4% to R127.7bn and group net asset value grew 3.9% to R25.93 per share.

Sasse attributed this positive performance to strong contributions from the V&A Waterfront in Cape Town and its east European arm, Globalworth Real Estate Investments.

The company looks set to be a reliable performer in 2018, with Sasse confident that the economy will gain momentum. While some offshore-focused JSE-listed property companies’ returns have been weakened because of the stronger rand and some have been sold off due to the perception that they were overvalued, Growthpoint’s strength has been that it has continued to run a diversified but risk-averse strategy, according to Sasse.

“While the listed property sector’s overall returns have been weak in 2018 so far, this is because of mostly the Resilient group of companies.

“Those companies are not traditional property groups as they use various financial engineering techniques and we’ve seen a sell-off of their shares as they were perceived by some to be overvalued,” Sasse said.

Meanwhile the likes of Growthpoint, Redefine and Vukile — which operate more like traditional property companies — are actually trading at 52-week highs.

“Growthpoint’s message to shareholders is that we will remain a reliable, conservative group that meets its dividend targets while maintaining and gradually enhancing the value of its assets,” said Sasse.

Stanlib analyst Ahmed Motara said the financial results met market expectations without any negative surprises.

“The stock has recently hit a multiyear high, with the South African 10-year bond yield … reaching a multiyear low. In light of recent disappointing South African property company results, Growthpoint’s results can be considered a positive outlier, particularly for a stock exposed across a broad swathe of the South African property market,” Motara said.

The stock continued to deliver reasonable returns on a steady basis, with overall vacancies below 5%, gearing near 35% and positive portfolio revaluations.

Anchor Stockbrokers research analyst Wynand Smit said it was notable that Growthpoint had highlighted “the trend of a slowdown in new retail supply, on the back of retailers being reluctant to grow their footprint in SA”.



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By Avantika Seeth

Published on 6 February 2018 on the City Press / News24 website

The cost of feeding an adult woman between the ages of 19 and 64 has been priced at R588.45 a month, and the cost of feeding an adult man between the ages of 19 and 64 sits at R620.49 a month. This is according to key data compiled from the January 2018 Pacsa Minimum Nutritional Food Basket. The basket is an indication of the food that families and individulas should be consuming, in order to meet their nutritional demands.

With this in mind, students who enter tertiary field from low-income households often battle to meet food security for themselves during their studies.

The South Africa Student Solidarity Foundation for Education (SASSFE), which was formed in April 2016, saw the need to be able to provide wholesome meals for students at the University of Witwatersrand, and thus began the initiative to call on ulumni members to contribute towards a food scheme which currently provides a hot meal to 200 students every day throughout the year.

Trustees Manco SASSFE

Seated From left to right are the trustees: Judge Richard Goldstone, Archbishop Thabo Makgoba and Judge Azar Cachalia. Not pictured is Professor Mamokgethi Phakela.

Standing from left to right are members of the management committee: Kenneth Creamer, Tiego Moseneke and Terry Tselane. Not pictured are Moss Mashishi, Professor Firoz Cachalia, Themba Maseko, Linda Vilakazi and Tebogo Thotela.


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Pursuant to Vukile’s participation in an accelerated equity book build undertaken by Atlantic Leaf Properties Limited on 13 September 2017, Vukile was allocated 23 152 709 Atlantic Leaf shares at a subscription price of R17,60 per share (GBP1.015). The ABO subscription shares were issued and delivered to Vukile, on a delivery-versus-payment basis, on Wednesday, 20 September 2017. Against transfer of the ABO subscription shares to Vukile, Vukile’s aggregate shareholding in Atlantic Leaf has increased to 65 951 117 ALP shares constituting 34.9% of the enlarged issued share capital of Atlantic Leaf. The transfer to Vukile of the ABO subscription shares have accordingly resulted in Vukile’s shareholding in Atlantic Leaf exceeding 30% of all voting shares in Atlantic Leaf.

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14 September 2017 - Andy Brauer has joined Encha Group as Chief Technology Officer. Brauer brings a wealth of experience to Encha’s growing range of activities. The appointment of Brauer is in line with the company’s strategy to attract partners who are subject-matter domain experts with relevant industry-specific experience and capabilities.

According to Encha’s founder and Executive Chairman, Tiego Moseneke, Brauer brings along a vast experience in the digital engineering technology space, spreading through an array of sectors from banking to sustainable energy. He previously served as Chief Technology Officer for Huawei Africa and Business Connexion.

By Hanna Zidy: Investment Writer


This article appeared in the Business Day of 21 June 2017, page 9 of COMPANIES AND MARKETS

Alliances between banks and financial technology (fintech) companies will continue to mushroom, as fintechs look to scale using bank balance sheets, while banks race to remain competitive in a digital world, says tech group Cisco.

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