Latest news with #AirportsCompanySouthAfrica
The Citizen
7 days ago
- Business
- The Citizen
SA fixed investment almost halves, after public sector projects slump
Nedbank report says the private sector is responsible for 100% of the announced capex plans in the first half of 2025. South Africa's public and private sectors announced new capital projects valued at an annualised R316.2 billion during the first half of this year. However, this is almost half of the R592.2 billion recorded in 2024 – and, according to the Nedbank Capital Expenditure Project Listing for the first half of 2025, the private sector is responsible for 100% of the announced plans. The report further said that no new projects were announced by the government and public corporations, following a surge in investment plans in 2024. 'Last year, the public sector accounted for 83% of the total project listings. Many of those projects are still in the early stages of implementation. 'As these projects break ground, its impact should begin to filter into actual gross fixed capital formation (GFCF) numbers, as was seen in Q1 when outlays by public corporations and the government increased by 13.8% and 0.3% respectively,' it said. ALSO READ: Identifying the bugs in SA's long-promised infrastructure boom However, Nedbank's claim that no new public sector projects were announced in the first half of 2025 is at odds with information disclosed by construction sector services company Industry Insight. Its Construction Monitor for June 2025 only said several large-scale infrastructure and property developments were confirmed or progressed in June 2025, reflecting 'renewed momentum in both public and private sector investment'. Industry Insight referred to the Airports Company South Africa's announcement of a R22 billion national infrastructure programme across multiple airports, which it insists will proceed despite threats from the construction mafia. It also said Transnet outlined plans for a major upgrade and expansion of the Cape Town harbour, aimed at improving port efficiency and unlocking trade, while in KwaZulu-Natal, the R10 billion Colenso Power Project entered the final pre-construction stages, although contracts are only expected to be awarded in the third quarter of 2025. However, Industry Insight stated that South Africa's construction sector remained under pressure in the first half of 2025, with a notable decline in private sector building activity and muted growth in public infrastructure rollout. It said building completions and plans passed declined sharply year-on-year in June 2025, by -12.0% and -21.0% respectively, pointing to a weaker pipeline in terms of private sector development. ALSO READ: Should government use pensions to fund its projects? Industry Insight said public sector tender activity remained depressed, as building tender values were down 15% year-to-date, with a similar decrease in civil tender values, despite a surge in the value of awards, suggesting a weakening pipeline. It attributed the lacklustre public infrastructure pipeline to under-expenditure and institutional delays, adding that this continues to weigh on the construction outlook. Nedbank expects GFCF to contract by 1.5% in 2025, less than the 3.9% decline in 2024, despite the significant decrease it reported in the capital projects listed in the first half of 2025. It said underlying conditions remain unsupportive of a broad-based upturn in fixed investment activity, despite pockets of improvement which will support a modest uptick in GFCF during the remainder of the year. The project listing records the major capital projects undertaken in South Africa, but only includes projects that have been announced publicly and are valued at R20 million or more. ALSO READ: SA needs trillions to achieve infrastructure goals, says Ramaphosa Private sector activity Nedbank attributed the increase in private sector activity to the structural shift to renewable energy and the central role of energy security in investment decisions, and improved macroeconomic conditions, particularly easing financial constraints and its positive impact on demand dynamics. It said the electricity, gas, and water sector led investment activity in the first half of 2025, with new non annualised projects totalling R72.7 billion. Nedbank said this momentum reflects continued efforts to tackle South Africa's energy crisis and move away from coal-fired generation. Major investments include Earth & Wire's large-scale Energy Fields project, the Overberg and Ishwati Emoyeni wind farms, Photon Energy's concentrated solar PV plant with thermal hydrostorage, and the Khauta solar project, it said. ALSO READ: Macpherson vows action on failed projects and EPWP reform Nedbank said mining and quarrying projects worth R45.2 billion were announced, anchored by Suiso's R31.5 billion coal-to-fertiliser facility in Kriel, which aims to produce 1.5 million tons of nitrogen-based fertilisers annually and reduce reliance on imported fertilisers. It said Meta is the largest investor in the transport, storage, and communications sector, with Project Waterworth accounting for 75% of the R26.4 billion worth of planned projects. This initiative involves developing a 50 000km global subsea cable system linking the US, India, Brazil, South Africa and other strategic regions to support growing demand for AI and data infrastructure. Manufacturing projects valued at R12.9 billion were announced, the most significant being Astron Energy's R6 billion upgrade of its Cape Town refinery to meet South Africa's Clean Fuels II regulations by the 2027 deadline, and PPC's expansion of its Riebeeck West cement facility at a cost of R3 billion. ALSO READ: At least R900 billion needed to fix SA's water woes A single project worth R1 billion was announced in finance, real estate, and business services, which was the Olympus Sandton mixed-use residential and retail development by Growthpoint Properties and Tricolt Group. It involves the development of two towers consisting of 22 and 16 storeys each, and will include hotel rooms, residential units, spa facilities, a restaurant and retail space. Nedbank said its Capital Expenditure Project Listing highlights three key trends: Investments remain heavily concentrated in energy, underscoring the central role of energy security in driving capital formation. The modest recovery in private sector announcements appear to be supported by improved macroeconomic conditions, including lower inflation and interest rate cuts. The lull in new public sector announcements follows the surge in 2024, with many of those projects still in the early stages of implementation. This article was republished from Moneyweb. Read the original here.
News24
21-07-2025
- Business
- News24
‘Operations remain normal': Contingency measures in place amid FlySafair strike, says ACSA
Airports Company South Africa said operations remain normal at all airports despite FlySafair's industrial action. Gallo Images/Volksblad/ Mlungisi Louw Be among those who shape the future with knowledge. Uncover exclusive stories that captivate your mind and heart with our FREE 14-day subscription trial. Dive into a world of inspiration, learning, and empowerment. You can only trial once. Start your FREE trial now
IOL News
15-07-2025
- Business
- IOL News
Ethics in the grey zone: governing conflicts of interest with courage
Though the award process to Sizekhaya Holdings may have complied with legal requirements, the absence of visible and transparent disclosures around these relationships undermined trust. In governance, perception matters. Poor or absent disclosure damages legitimacy, even without legal fault. Image: Cape Argus By Nqobani Mzizi In governance, few terms provoke as much unease as "conflict of interest". It conjures images of overt corruption, self-dealing and backroom deals. Yet in many boardrooms, the more dangerous form is covert and subtle. It emerges not through criminality but convenience, not through law-breaking but ethical lapses that thrive in silence and passivity. These are the conflicts that live in the grey zone. We often associate conflicts of interest with clear-cut wrongdoing: a director awarding a tender to their own company, a regulator sitting on a board they're meant to oversee. But many conflicts are more nuanced. They live in assumptions we don't question, relationships we don't declare, and benefits we don't probe. Often, they hide in plain sight: in annual declaration forms submitted as routine or meeting registers listing interests without discussion or follow-up. These processes, meant to enable transparency, become hollow rituals without meaningful engagement and ethical reflection. Grey-zone conflicts are not always compliance failures; they are ethical blind spots where governance falters under silence, ambiguity, or convenience. They are technically compliant but ethically compromised. They flourish where disclosure is absent, recusal is performative, and boards look the other way, not because they condone wrongdoing, but because they've normalised ambiguity. It is here, in the comfort of procedure without principle, that governance erodes. King IV recognises this risk. South African law requires declaration of personal financial interests and sets fiduciary duties, but King IV Principles 1 and 5 go further, calling for ethical and effective leadership beyond legal minimalism. A director may comply with the law but betray governance's spirit by failing to disclose a relationship or by participating in decisions blurred by personal gain. When Sizekhaya Holdings was awarded the fourth National Lottery licence in 2025, public concern quickly surfaced over the perceived political connections of its leadership, including ties to relatives of senior government officials. Though the award process may have complied with legal requirements, the absence of visible and transparent disclosures around these relationships undermined trust. In governance, perception matters. Poor or absent disclosure damages legitimacy, even without legal fault. At the Airports Company South Africa (Acsa), CEO Mpumi Mpofu came under fire for alleged misrepresentation of academic qualifications and awarding bonuses to executives during financial strain. With service providers unpaid and operational performance under scrutiny, the optics of bonuses raised ethical questions. Although no formal charges were brought, the board's failure to address these concerns reflected a worrying tolerance for ethical ambiguity: a grey zone where silence replaced scrutiny. The Steinhoff International scandal, known for accounting fraud, also revealed subtle but corrosive conflicts of interest. Executives linked to related-party transactions personally benefited from inflated financial results. Despite this, the board did not act urgently. It failed to question transactions, investigate relationships, or push for disclosure. The board's deference to executive authority, whether out of loyalty, deference, or inertia, allowed personal interest to override fiduciary duty, shifting oversight to complicity. These cases show governance failures need not involve overt misconduct. Sometimes, it is the cumulative effect of quiet compromises: undisclosed affiliations, soft recusal, where directors nominally step aside without meaningful disengagement, and silence under pressure that unravels institutional integrity. The Steinhoff scandal, like the cases of Sizekhaya and Acsa, reveals a pattern: grey-zone conflicts thrive where boards privilege process over principle. They are not isolated failures but systemic symptoms of a governance culture that rewards silence over scrutiny. To break this cycle, boards must reframe conflicts of interest as strategic governance moments, not bureaucratic disclosures to file away. They must take an uncompromising stance on ethical ambiguity, recognising that every potential conflict is an opportunity to demonstrate ethical clarity and transparent leadership. This mindset demands more than compliance; it requires courage. Disclosure practices must be strengthened. Too often, boards limit declarations to statutory interests or ownership stakes, ignoring broader context. Personal, familial, or political affiliations that may create perceived bias must be declared and discussed openly. Some argue excessive scrutiny risks paralysing decision-making. Yet the greater danger lies in inaction disguised as pragmatism. Boards that tolerate grey-zone conflicts to avoid 'overcomplication' ultimately erode the very currency of governance: trust. Boards must create environments where over-disclosure is encouraged, not penalised. Oversight mechanisms must be more robust and independent. Conflict reviews should not be managed by internal structures reporting to those under scrutiny. Independent ethics committees with external expertise can depoliticise assessments. But structures alone are insufficient without cultural change. Boards must adopt zero tolerance toward grey-zone conflicts, where even perceived compromised judgment triggers recusal, not just legal violations. Ethical behaviour must be incentivised, not incidental. Executive performance metrics often focus on profitability, growth, or shareholder value. But ethical governance should be tied to performance evaluations and bonus structures. Stakeholder trust, reputational stewardship and ethical conduct must carry weight in boardroom remuneration decisions. Finally, governance culture must prioritise values over vagueness. It is not enough to have conflict of interest policies on paper. Boards must actively pose ethical questions, encourage critical reflection and normalise discomfort. A culture that rewards candour, curiosity and dissent is one that builds long-term resilience and trust. Ethical governance lives in the gap between law and leadership. Conflict of interest is not merely a legal risk; it is a test of character. It demands more than checklists and compliance registers. It demands boards and executives who are willing to declare their interests fully, recuse themselves meaningfully and interrogate decisions with integrity. As directors, we must ask ourselves: Are we fostering a boardroom culture that prioritises disclosure over defensiveness? Are we willing to challenge colleagues when grey-zone decisions arise? Do we understand the reputational cost of passive complicity? Are we prepared to act with courage when conflict surfaces, or will we hide behind process? In an era of rising public scrutiny and stakeholder activism, governance legitimacy will not be earned by technical compliance. It will be earned by ethical clarity. And that clarity is forged in the grey zones, where the law is silent, but leadership must speak. Nqobani Mzizi is a Professional Accountant (SA), (IoDSA) and an Academic. Image: Supplied * Nqobani Mzizi is a Professional Accountant (SA), (IoDSA) and an Academic. ** The views expressed do not necessarily reflect the views of IOL or Independent Media. BUSINESS REPORT
Time Out
14-07-2025
- Business
- Time Out
Cape Town International crowned #1 airport in the world
Cape Town International Airport (CTIA) has officially clinched the world's best airport title in the newly released AirHelp Score 2025. The airport has outperformed 249 other global hubs with an exceptional overall score of 8.57, including an on-time performance rating of 8.6 and a customer experience score of 8.7. According to Airports Company South Africa (Acsa), the airport handled a total of 10.49 million two-way passengers in 2024, a 7% increase compared to 2023. However, this figure is still lower than record numbers between 2018 and 2019, when passenger numbers averaged close to 11 million. Domestic traffic grew by 6%, while air cargo volumes saw a notable 27% growth in the first 10 months of last year. As AirHelp's emphasis on real‑time data and passenger-sourced sentiment grows, CTIA's #1 global ranking spotlights South Africa's emerging status as a world-class aviation hub. The AirHelp Score gauges performance across: • On-time punctuality (60%) • Customer sentiment (20%) • Quality of food and shops (20%) Notably, this assessment spans 1 June 2024 to 31 May 2025, and incorporates feedback from 13,500 travellers across 58 countries.
IOL News
12-07-2025
- Business
- IOL News
Cape Town International Airport named world's best, achieving top recognition in AirHelp score
Airports Company South Africa (Acsa) on Friday announced a significant achievement, with Cape Town International Airport (CTIA) securing the number one spot in the prestigious AirHelp Score 2025. This top ranking places CTIA at the forefront of global airport service excellence, reaffirming its position as a world-class hub for travelers. CTIA received an outstanding overall score of 8.57, with particularly impressive marks for on-time performance (8.6) and customer experience (8.7). This exceptional performance highlights the airport's commitment to operational excellence and delivering a seamless, top-tier experience for passengers.
