New 'city' of the West taking shape and the value of banking shares in 2024 so far

Here are some of the stories you may have missed over the past week. The Westown Precinct between Pietermaritzburg and Durban is pushing ahead with development. [BusinessTech logo]( [Top stories this week]( [◼ New ‘city’ taking shape in South Africa – coming with a R2 billion lifestyle estate]( The Westown Precinct between Pietermaritzburg and Durban is pushing ahead with development. [◼ How much you would have if you invested R1,000 in Capitec, FirstRand, Nedbank, and more in January]( The depressed outlook for South African banks has significantly impacted share prices in 2024, but there's one notable exception. [◼ Petrol price pain coming for South Africa next week]( While global markets appear to be calming from the wild ride over the last few weeks - it's unlikely to make too much of a difference for petrol prices in May. [◼ South Africa kisses another 138 businesses goodbye – with more pain expected]( Liquidations in South Africa are down, but the economic "new normal" will mean that more business distress should be expected. [◼ It’s over for Ellies]( Ellies' business practitioners see no reasonable way it can be rescued, and the group is now heading for liquidation. [◼ Reserve Bank ‘nonsense’ costing South Africans at least R4,000 per month, says economist]( Economist Roelof Botha says the SARB never had reason to start its "nonsense" of raising rates this high, and the average South African is paying the price. [◼ Good news for salary hikes in South Africa]( Employed South Africans could finally find some relief in 2024, data from Nedbank shows. But don't loosen your belt just yet. [◼ Recession warning for South Africa: FNB]( FNB economists warn that the Reserve Bank risks thrusting South Africa into technical recession if interest rates remain high unnecessarily. [◼ Load shedding will return, warns electricity minister]( The potential for future setbacks means that load-shedding is not over, says Electricity Minister Kgosientsho Ramokgopa. [◼ The cities in South Africa with the most millionaires – and a new king emerging]( The title of South Africa's richest city is set to change by the end of the decade, with wealthy South Africans and companies packing their bags. [Facebook]([Twitter]([LinkedIn]([YouTube]( [Manage your preferences or unsubscribe]( • [View PDF]( • [Pause Subscription]( • [View Online]( This email was sent to {EMAIL} on 28-04-2024 This is intended for opt-in communication only. If you feel this email is unsolicited please [report it]( to us Email Powered By Everlytic