Andrew Stegmann

Cape Town Foreshore Freeway Project Bidder Selected

The City of Cape Town (CoCT) has announced the qualifying bidder for the Foreshore Freeway Project that, near the end of last year, was shrouded in mystery and controversy.

Project management firm Mitchell du Plessis Associates’ proposal has been chosen, out of seven submitted to the City. The firm has been involved with numerous large-scale projects in Cape Town, including the Two Oceans Aquarium, the Cape Town Stadium, Riverside Mall (Rondebosch), Norfolk Place (Kenilworth), the MyCiTi Integrated Rapid Transport (IRT) system, and the Cape Grade and V&A Hotels.

The firm’s R8 billion proposal focuses on completing Cape Town’s unfinished freeways, alleviating traffic congestion in and around the CBD, as well as providing affordable housing close to the City Centre.

The housing will be provided by means of building high-rise tower blocks of apartments across four precincts on the land between the freeways. The city is in desperate need of more affordable housing options for those who work in the city, many of whom currently commute from neighborhoods far away from the CBD, increasing traffic into the City Centre.

Cape Town is ranked as being the worst city in South Africa for traffic congestion, and was ranked 48th worst in the world in the 2016 TomTom Traffic Index. For the full ranking list, click here.

Mayoral committee member for Transport, Brett Herron, stated that, should the chosen proposal succeed, it will drastically transform Cape Town, and contribute towards a more residential and inclusive inner city.

During the second phase of the project’s tender process, Mitchell du Plessis Associates will, over the next 6 months, have to conclude an agreement with the CoCT, as well as finalize an investment plan, and secure financing for the project.

 

For information as to how Relocation Africa can help you with your Mobility, Immigration, Research, and Remuneration needs, email marketing@relocationafrica.com, or call us on +27 21 763 4240.

Sources: [1], [2], [3]. Image source: [1].

 

Andrew Stegmann
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Nigeria’s Naira to be Added to Britain’s List of Trade Currencies

Nigeria’s currency, the naira, will become one of three West African currencies that the United Kingdom’s export finance agency will add to its list of pre-approved currencies, allowing it to provide financing for transactions with Nigerian businesses denominated in the local currency. The other two currencies have not yet been disclosed.

Paul Arkwright, the British High Commissioner to Nigeria, stated that this is a clear indication of how much value the UK places on its relationship with Nigeria, and that it will provide a firm foundation for a significant increase in trade and investment between both countries.

Britain voted in 2016 to leave the European Union, which has forced London to rethink its trade ties with the rest of the world. The UK and the EU struck an agreement in December that opened the way for talks on future trade ties.

The naira financing will follow the same structure as a someone buying in Britain’s sterling, except that Nigerian firms taking out a loan in the local currency can benefit from a UK government-backed guarantee.

 

For information as to how Relocation Africa can help you with your Mobility, Immigration, Research, and Remuneration needs, email marketing@relocationafrica.com, or call us on +27 21 763 4240.

Source: [1]. Image source: [1].

Andrew Stegmann

Radisson Blu Hotels Aiming for 40 Locations in Nigeria

Upscale international hotel chain Radisson Blu aims to have 40 locations in Nigeria.

Radisson Blu operates as part of the Radisson Hotel Group, one of the world’s largest hospitality companies, headquartered in Minnesota, USA. The Radisson Blu brand has the largest pipeline of hotel rooms in Africa, according to a study prepared by W-Hospitality.

In a recent interview, William McIntyre, a Radisson Group regional director, said that the Radisson Blu brand is the fastest expanding hotel brand in Africa, and that the group currently has 85 hotels in Africa, either open or under development. McIntyre noted the significance of Nigeria, with its being the largest market on the continent and presenting an opportunity for large-scale expansion of Radisson operations.

Radisson has 9 hotels in Nigeria, with a long-term goal of having 40 operating simultaneously throughout the country. The group is operating in Abeokuta and Lagos, and has signed deals in Abuja, Port Harcourt, and Abeokuta.

In terms of security, the group has a strong safety and security team, and multiple measures in place to detect, avoid, and manage various crisis instances, with regular training for the broader teams, and, most importantly, the hotel staff.

McIntyre said the group has a strong entrepreneurial spirit, is always willing to be flexible, and is an ideal fit for Nigeria. When asked what Radisson Blu’s unique selling point was, McIntyre said the group’s hotels are sophisticated, iconic and stylish, and that customer’s needs are anticipated. He further said that guests are engaged with on a personal level, and are provided with an experience that leaves them with more memorable moments in contrast to competitors. Finally, McIntyre said that the group makes its relationships with its stakeholders – from guests, to owners, to customers, to suppliers – its priority.

 

For information as to how Relocation Africa can help you with your Mobility, Immigration, Research, and Remuneration needs, email marketing@relocationafrica.com, or call us on +27 21 763 4240.

Source: [1], [2], [3], [4]. Image source: [1].

Andrew Stegmann

South Africa Has a New President

15 February saw the South African Parliament’s voting in of Cyril Ramaphosa as the country’s new President. This, after Jacob Zuma scheduled a press conference late on Wednesday to announce his resignation, stating that while he disagrees with the ANC’s decision to force him out, he will not defy the party he has been a member of for so many years.

Opposition parties wished their new leader well, but cautioned that Ramaphosa has a tough job ahead of him, in reunifying the nation, and rectifying the numerous problems they believe were brought about during Zuma’s tenure.

Chief Justice Mogoeng Mogoeng presided over the vote. Ramaphosa was the only MP nominated.

South Africa’s new President is no stranger to political leadership positions. Aside from being the country’s Deputy President since 2014, Ramaphosa was the Deputy President of the ANC from 2012 to 2017; and its Secretary General from 1991 to 1997. He also acted as his party’s Chief Negotiator during South Africa’s transition to democracy. Despite being former President Nelson Mandela’s choice for his successor, the ANC put forward Thabo Mbeki instead.

The ruling African National Congress announced Cyril Ramaphosa as its new President in December 2017.

Outside of politics, Ramaphosa has many other bold achievements, including building up the most powerful trade union in South Africa; the National Union of Mineworkers (NUM). The President has also built a name for himself in the business world. Having held notable ownership in companies such as McDonald’s South Africa; and being chair of the board for cellular operator MTN, and member of the board for mining company Lonmin, Ramaphosa has amassed a net worth of over $450 million.

The President’s wife, and the new First Lady of South Africa, Tshepo Motsepe, is a medical doctor, having worked over the years in both public and private practice. She has served as Non-executive director of the Wits Health Consortium, and as a board member of both the Vaal Reefs Disaster Trust and the Kids Haven Foundation. She is currently the chairperson of the African Self Help Trust, which focuses on Early Childhood Development and Education.

Tshepo is the sister of South African businessman Patrice Motsepe, one of the wealthiest Africans, who is the founder and executive chairman of African Rainbow Minerals, which has interests in gold, ferrous metals, base metals, and platinum. The First Lady is also the sister of mining businesswoman Bridgette Radebe, who is married to Minister in the Presidency, Jeff Radebe.

The rand has strengthened since Ramaphosa’s taking the helms, and a strengthened economy and renewed foreign investment in South Africa are expected in the coming months.

The first major test for the new President will be in seeing who he retains and who he replaces in his new cabinet. He is facing increasing pressure from both opposition parties and his own party to fire certain ministers who are seen as incompetent, as soon as possible. These include Minister of Finance Malusi Gigaba, as well as Des Van Rooyan, Faith Muthambi, Bathabile Dlamini, David Mahlobo, and Mosebenzi Zwane. Also among those Ramaphosa is being pressured to replace is Director of the National Prosecuting Authority Shaun Abrahams, who is currently overseeing the process of deciding whether hundreds of corruption charges will be brought against Jacob Zuma.

President Ramaphosa is set to deliver his first State of the Nation (SONA) address tonight.
This will be followed by the SONA debate on Monday 19 February, and the 2018 Budget Speech on Wednesday 21 February.

 

For information as to how Relocation Africa can help you with your Mobility, Immigration, Research, and Remuneration needs, email marketing@relocationafrica.com, or call us on +27 21 763 4240.

Sources: [1], [2], [3], [4], [5], [6], [7], [8], [9]. Image sources: Government Communication and Information System [1], African National Congress [2].