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The V&A Waterfront, owned by Growthpoint Properties, is thriving with a surge in international and domestic tourists. The mixed-use precinct in Cape Town has exceeded expectations in the first half of 2024, contributing to Growthpoint’s success as one of South Africa’s largest real estate investment trusts.
Lloyd’s of London faces $2.3 billion financial hit from Los Angeles wildfires in January. Impact on 2025 results still being assessed. Fires burned for three weeks, causing evacuations and destroying structures in Pacific Palisades, Malibu, and Altadena. AccuWeather estimates total damage at $250-275 billion. Lloyd’s of London reports pre-tax profits of $11.4 billion for 2024.
Woolworths expects to resolve supply issues soon after disruptions left some stores short of fresh produce and meat. The retailer cites supplier problems and heavy rains affecting key agricultural regions. Empty shelves in vegetable and meat sections gained attention. Woolworths apologizes and is working on sourcing products from other regions to improve the situation within a week.
President Ramaphosa criticizes AfriForum and Solidarity for spreading misinformation about South Africa in the US, calling their actions unpatriotic and damaging to the country’s sovereignty. He expresses disappointment and warns of potential treasonous implications. Law enforcement agencies are urged to investigate.
South Africans are flocking to the Isle of Man for low taxes and a better quality of life, with over 1,200 already residing there. The island’s appeal to wealthy individuals and companies is driving this trend, with notable resident Mark Shuttleworth. CEO Richard MacNee notes that official statistics may not capture the full extent of South African migration due to dual nationality cases.
Jason Quinn, new CEO of Nedbank, received R62.7 million in shares and R9.15 million in incentives upon joining in June 2024. His total remuneration for the year is R106 million, including R18 million in long-term incentives. Quinn resigned from Absa in November 2023, forfeiting previous awards.
President Trump labeled protesters against Tesla as potential domestic terrorists during a White House event supporting Elon Musk’s company. Trump, sitting in a Tesla with Musk, criticized demonstrators targeting Tesla showrooms over Musk’s ties to his administration. He praised Tesla’s cars but mentioned he couldn’t drive due to security reasons. Tesla’s market value has dropped significantly recently.
A bus accident on the R21 near Kempton Park on 11 March 2025 resulted in 12 fatalities and 45 injuries. The bus overturned multiple times, leading to the tragic incident. Emergency services confirmed the deaths on the scene, with two individuals still trapped in the wreckage by early afternoon. The R21 highway was closed as officials worked to recover the bodies.
Finance Minister Enoch Godongwana faces challenges delivering the 2025/2026 Budget amid political fractures in the Government of National Unity. A proposed VAT increase from 15% to 17% caused chaos, delaying the budget presentation. The government must now reconcile internal rifts to present a credible plan and reassure South Africans and investors.
The AFU attached property of Darren Wilken and Tiona Megan Moodley, accused of child pornography. The court granted the AFU’s application to preserve seized cash and frozen bank account funds. Wilken allegedly operated a child pornography website from his residence in Midrand, offering material for sale globally. His luxury vehicle with a provocative registration number was also seized.
