April 2019 / South Africa
Kenya begins construction of biggest drug factory in Africa
Gauteng’s R100 billion plan to build 30 new cities
- The Central Development Corridor – anchored on the city of Johannesburg as the hub of finance, services, information and communication technology, and pharmaceutical industries;
- The Eastern Development Corridor – built around the economy of the Ekurhuleni metro as the hub of manufacturing, logistics and transport industries;
- The Northern Development Corridor – anchored on Tshwane as the administrative capital city and the hub of the automotive sector, research, development, innovation and the knowledge-based economy;
- The Western Corridor – encompassing the economy of the West Rand district and the creation of new industries, new economic nodes and new cities; and
- The Southern Corridor – encompassing the economy of the Sedibeng district and the creation of new industries, new economic nodes and new cities.
Lanseria Airport City Lanseria falls within Region A of the city of Johannesburg Metropolitan Municipality. The Mega Project for Integrated Residential Development at Lanseria Airport City is designed to be a mixed-use residential development, and business district. The existing Lanseria International Airport will anchor the success of the proposed Lanseria Airport City Mega Project. The project would create 50,000 residential units and approximately 5 million square metres of commercial floor space.
Cullinan Mega City The Cullinan Mega City Development is situated on a 180 ha land in Cullinan, within the City of Tshwane. It will be based just off Collin road and within a two kilometre radius to Cullinan CBD and four kilometres within the Cullinan Diamond Mine and Refilwe Township. It is also 45 kilometres from Tshwane CBD which makes it possible for residents to work and live within a reasonable distance, the department said. It promises a modern mixed-use new-town development with a range of housing types.
Daggafontein Mega City The Daggafontein Mega Housing Development is located within the Greater Springs Area, and is adjacent to Edelweiss Extension, South of the N17 Highway. It is designed to be a Smart City Development, with the aim of providing world class housing. This will include 15,511 subsidised housing units out of a total of over 17,000 units spread over an area of 750ha.
Goudrand Mega City The site is situated adjacent to Randfontein Road/Main Reef Road (K198) and West, and adjacent to Dobsonville Road. Currently the whole township is known as Goudrand Ext 4 and it will be subdivided into 15 different phases to be known as Goudrand Ext 5 to 19. The proposed Goudrand Ext 4 development is an integrated development consisting of 13,000 plus potential housing opportunities. The first phase of the development is a mixed use project comprising of 13,197 housing opportunities in a mix of 1,204 residential 1 bonded units, 1,325 residential 1 FLISP units, 10,668 residential 3 units, 5 educational sites, 3 shopping centre sites, and 7 crèche sites, 8 worship sites, a hospital site, a cemetery and municipal sites.
John Dube Mega City The John Dube Mega City project has already launched, with construction beginning in Duduza in Ekurhuleni. The development will include:
- A civic and business centre
- Seven primary schools;
- Three secondary schools would be built.
- Eight business facilities
- 53 parks would be established and community gardens
- Full medical facilities including a hospital.
Park City The proposed housing development would be among the largest residential undertaking of its kind in the history of Bronkhorstspruit, east of Pretoria. The housing development will have precincts with different architectural themes which will be fenced-off separately and have their own entrance and exit and electronically controlled gates. Within each precinct, there will be several blocks of apartments with biometric access control for residents. The estimated cost of the development is R4.05 billion, to be expended over an estimated period of 5 years. The project is a fully integrated development that will offer living, work and play opportunities within a secure environment over a total area of approximately 400 hectares. The proposed residential development includes the following:
- Free Standing Units (FSU) Housing Scheme
- Social Housing Scheme
- Community Rental Units
- BNG Housing
- Open Market Affordable Rental Units
The full list of proposed mega city projects is listed below: Central East North West South
Marriott sees 20 new properties in Mena region this year
SHELL PLANS $15 BILLION INVESTMENTS IN NIGERIA’S OIL AND GAS SECTOR DEVELOPMENT
Tanzania set to start talks with majors on $30b deepwater LNG project
Jumia’s stock is soaring on its first day of trading on the New York Stock Exchange
Jumia’s historic initial public offering has gone live trading on the New York Stock Exchange—and its stock shot up.
After the ceremonial ringing of the NYSE bell by company executives, Jumia’s first official day of trading on the New York Stock Exchange began. And, as investors specialized in backing e-commerce companies in emerging markets predicted to Quartz Africa, Jumia garnered investor interest and enjoyed an impressive first day run. Its stock, which was priced at $14.5, closed up 75%.
While the sharp jump on its first day of trading signals a positive outlook from investors, it is by no means a permanent trend as another recent high-profile tech IPO proves. After launching amid strong interest and gaining on its share price on its first trading day, ride-hailing company Lyft has broken its IPO price just two weeks after its launch.
Jumia’s major executives including Sacha Poignonnec, co-CEO of Jumia Group, and Juliet Anammah, chief executive of Jumia Nigeria, were present to ring the opening bell on the exchange ahead of the launch. With its shares priced at $14.5 after initially setting a share price range between $13 and $16, Jumia offered 13.5 million shares for purchase and raised $196 million. The stock opened at $18.95.
The listing is a watershed moment for Africa’s tech ecosystems as Jumia, the largest e-commerce company on the continent with operations 14 countries, is the first Africa-focused tech company to launch on NYSE or any major global exchange—and that novelty was played up throughout the launch event.