Latest news with #EconomicDevelopmentCommittee
IOL News
17-07-2025
- Business
- IOL News
Ematsheni redevelopment in Pietermaritzburg city centre: R18 million project to boost informal economy
An artist's impression of the Ematsheni Public Market redevelopment in the Pietermaritzburg CBD. Image: Supplied The crime-infested site Ematsheni in Pietermaritzburg's CBD is set to be redeveloped with the intention of revitalising the area for informal economic activity, at an estimated total cost of R18 million. About R4m has been made available for the first phase of the project, which could start as early as September. The contractor for the project is expected to be appointed by next month. Officials from the Msunduzi Municipality, who are leading the project, provided details on it when they appeared before the Economic Development Committee in the provincial legislature this week. This meeting followed an oversight visit by committee members to the area. The first phase of the development is funded by the Department of Economic Development, Tourism and Environmental Affairs. The Ematsheni Beerhall structures were demolished around 2017 after the property was overrun by criminal activity. The vacant land at the site has continued to be a subject of concern due to ongoing criminal activities. Phindile Zondi, manager of Economic Planning & Infrastructure under Development Services (LED) in the municipality, briefed the committee on the work underway and the expectations for the project. She said technical work on the project, in terms of consulting, costing and planning, is nearing completion. An artist's impression of the Ematsheni Public Market redevelopment in the Pietermaritzburg CBD. Image: Supplied Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading 'The municipality has sought funding to rebuild the area and ensure that the people who were operating there legally have a new area where they can operate,' she said, adding that as a result the municipality applied to the provincial government to rebuild the site and received about R3m in funding. The approval came with the condition that the municipality also had to contribute R1m of its own funds. The scope of the project includes various elements, including a taxi rank, after they had been approached by the South African National Taxi Council. The project will have three phases. Phase one involves the construction of 90 training stalls, storage facilities, ablution facilities, and other trading facilities. The subsequent phases will include the building of a taxi rank and other assets. 'Once completed, the area will feature a ground floor and a first floor, with the first floor designated as a taxi rank and the ground floor used for commercial space,' Zondi explained. 'We are looking for an anchor tenant. We believe that having a stronger anchor tenant will help manage and secure the facility, making it safer for those using it." Zondi mentioned that much more is required to complete the overall project, which is estimated to cost around R18m. She added that they had been able to source additional funding from the National Treasury for the other phases of the project. Speaking on when the construction work will get underway, she said they will be appointing a contractor soon from the municipal panel of building contractors. This should be concluded by August for phase one, with work commencing on-site by September. Phase one is expected to take nine months and should be completed by 2026. Economic Development Committee member Super Zuma expressed scepticism about the project, stating, "From what I am seeing, the scope of what had been promised has drastically reduced from what was presented before, and I am sceptical. What guarantees do we have that what you are promising now will be delivered?" Chairperson of the committee, Mafika Mndebele, stated that the Portfolio Committee on Economic Development and Tourism convened the engagement with representatives from Msunduzi to assess progress on key community-based economic projects. 'We are encouraged by the reports presented and the commitments made by all stakeholders. The committee is satisfied that these projects are on track and continuing as planned. 'They are already demonstrating tangible benefits for the local economy, particularly in creating opportunities for SMMEs, advancing township and rural enterprise development, and supporting inclusive local economic growth. 'These are not just infrastructure projects — they are instruments of economic justice and empowerment. They bring services closer to the people, stimulate job creation, and activate local supply chains that help small businesses to thrive. 'We will continue to exercise robust oversight to ensure that the impact of these projects reaches all intended beneficiaries and that any delays or implementation challenges are swiftly resolved.' THE MERCURY
Scoop
27-06-2025
- Business
- Scoop
New Website Launched To Showcase Kaipara
Kaipara District Council has unveiled a brand-new website to highlight the district's exceptional lifestyle and economic potential. The platform is designed as a central hub, positioning the district as an ideal place to visit, live, work, and invest. The website content has been shaped with local input and reflects the distinct character, values, and aspirations of its people, with updates and new additions as the website is developed. The web design concept was created and developed over fifteen months by Brand with Soul and Max Ostler, both Kaipara based. From regional data and success stories to practical tools for investors, entrepreneurs, and new residents, the website offers a comprehensive introduction to life in the district. Kaipara District Council Mayor Craig Jepson says the website is a milestone for the district's development. 'This website gives us a platform to tell the world who we are. It showcases the best of Kaipara – from our strong local businesses to the beautiful places we call home. It's a great step forward in how we welcome growth, celebrate our uniqueness, and invite others to be part of our future.' Kaipara District Council Deputy Mayor Jonathan Larsen, Chair of the Economic Development Committee says 'the stars are aligning for Kaipara District. The Proposed District Plan offers the potential for significant new residential, commercial and industrial rezoning right across the district. Planning for a four-lane motorway to our southern boundary is well advanced with construction schedule to commence in late 2026. We have a major opportunity to use our competitive advantage right on the border of Auckland to attract new business and employment which will help our communities thrive. This creation of this website was a key action of the committee to get the word out that Kaipara really is the place to be.' Advertisement - scroll to continue reading To commemorate the launch, Council held events on both sides of the district, in partnership with the Mangawhai Business Association and the Dargaville Community Development Board. Welcoming Communities Advisor Misty Sansom says the website supports new residents to make a strong start in the district. 'We want people moving to Kaipara to feel connected and confident from day one. This site shares the stories, support networks, and real-life insights that make Kaipara a special place to call home.' Paul Thompson, Kaipara District Council Economic Development Lead, said the platform is a valuable tool for boosting local enterprise and attracting outside investment. 'We've worked hard to build a resource that's grounded in what makes Kaipara unique, while also being future-focused. It's not just a website – it's a gateway to everything Kaipara has to offer.' Kaipara District Council encourages local businesses and community members to explore the site and share it widely. This marks the beginning of an ongoing collaboration with community groups and organisations to grow and refine the website over the coming weeks and months, showcasing and celebrating the unique character of our district.
Arabian Post
14-06-2025
- Business
- Arabian Post
Brazil Embarks on Sovereign Bitcoin Reserve Path
Brazil is charting a potential first for any G20 economy by moving through its legislature a proposal to allocate up to 5 per cent of its approximately $370 billion foreign‑exchange reserves into Bitcoin. Bill PL 4501/2023, currently advanced by the Economic Development Committee, would establish a Sovereign Strategic Bitcoin Reserve—dubbed 'RESBit'—under the joint oversight of the Central Bank and the Ministry of Finance, with stringent storage protocols and biannual audits. The bill's sponsor, Federal Deputy Eros Biondini, argues the measure would reinforce Brazil's financial sovereignty and diversify its reserve holdings beyond traditional assets. Parliamentarian Luis Gastão, acting as rapporteur, emphasises a cautious, phased implementation aimed at managing volatility exposure while boosting institutional resilience. This contrasts with El Salvador's executive decree model; the Brazilian plan proceeds through parliamentary channels, potentially setting a more enduring legal precedent. Storage and transparency are at the core of the proposal: BTC holdings would be secured via cold wallets, underpinned by mandated audits every six months, and reported directly to Congress. Advocates hope this methodical governance framework will ease institutional apprehensions while allowing crypto assets to form part of state‑backed fiscal strategy. ADVERTISEMENT Market reaction has been swift. Analysts highlight the timing, noting that Bitcoin trades near $107,500, with a market capitalisation exceeding $2.1 trillion and a 30 percent rise over 90 days. Within Latin America, Brazil would stand alongside El Salvador as a pioneer, but its parliamentary route marks a significant departure, offering a scalable model potentially attractive to larger economies. Experts say integration of Bitcoin into sovereign reserves could unlock strategic advantages. Proponents highlight potential hedging against inflation and dollar dependency, while warning of crypto's inherent risk. Central Bank and finance ministry coordination could foster system-level stability, aligning with policy objectives such as the issuance of a central bank digital currency. A global ripple effect may follow. Brazil's initiative has garnered attention across financial and crypto communities; social‑media commentators suggest it may herald the second phase of sovereign Bitcoin adoption, one grounded in legislative legitimacy rather than executive fiat. Opposition voices within the finance sector remain vigilant. Critics question Bitcoin's volatility and liquidity as state assets, urging robust risk frameworks before proceeding. Analysts stress the need for comprehensive impact assessments, including stress‑testing against currency and gold reserves.
Yahoo
12-06-2025
- Business
- Yahoo
Record-breaking food festival attracting huge interest for this summer's event
Demand for businesses across Lancashire, and beyond, wanting to take part in this summer's Clitheroe Food Festival is double last year's figure, councillors are being told. Food and drinks businesses from the Ribble Valley, Preston, Blackpool, Lancaster, Rossendale, Pendle, Hyndburn, Leyland and Lytham are among those signed-up for stalls at the August event. Currently, 31 Ribble Valley firms are registered. But others are coming from further including Cumbria, West Yorkshire, Greater Manchester and Merseyside. The year's main food festival is on Saturday, August 9. And a programme of smaller events at different locations, called Ribble Valley Taste Fest, will be held in the five days before, starting on Monday, August 4. Ribble Valley Council organises and subsidises the festival, with the main Clitheroe town centre event being free to access for the public. It is seen as a key event to promote the area. Last year's main festival attracted record crowds and cost Ribble Valley Council less than was originally expected. The borough's Economic Development Committee is due for an update on this year's plans at its meeting this week. More: King Charles makes stop in Clitheroe during Lancashire visit More: Thousands descend on town centre for annual food festival A new report for councillors states: 'The council's website application portal for businesses to apply for stalls opened in January. A total of 144 applications were received and all stalls have now been allocated. Officers are maintaining a reserve list to fill any stalls if a business drops out. To put this into context for the growing popularity of the food festival, at this stage last year, 75 stalls had been allocated.' Live music is planned for two stages on King Street and Castle Street, organised by Duncan Sykora and Ivana Douglas of Ribble Valley Arts They have organised music at previous food festivals. Regarding income for the council, two headline sponsors have been secured for this year's food festival. They are Compleat Food Group and Fort Vale Engineering. Other sponsorship opportunities are still available and being promoted. Regarding the week-long Ribble Valley Taste Fest, the report adds: 'The aim of the Taste Fest is to highlight the amazing range of food experiences available across the wider Ribble Valley. Not only will this spread the economic benefits of promoting local food but provide visitors with reasons to stay longer in the days leading up to the main festival. The programme is currently being formulated.' Last year's Taste Fest included food and drink tasting sessions, walks connected to rural pubs, and events in locations including Holmes Mill in Clitheroe, which is home to various food, drink and hospitality businesses including the Bowland Brewery.
Yahoo
11-06-2025
- Business
- Yahoo
Missouri House Committee passes Chiefs, Royals stadium plan
JEFFERSON CITY, Mo. — The stadium package for the Kansas City Chiefs and Royals cleared another hurdle at the Missouri State Capitol Tuesday. The House Committee on Economic Development endorsed the package following more than three hours of discussion. Potential Royals move to Kansas sparks mixed reaction in Overland Park What was talked about had to do with Senate Bill 3. It's the same package that body approved early Thursday morning. It funds any stadium plans for the Chiefs and Royals with tax revenues that the stadiums generate. Republican State House Rep. Sherri Gallick from Cass County, heads the Economic Development Committee. On more than one occasion during the committee meeting, she expressed her support for the bill. She discussed how much the Chiefs and Royals do for charities on the west side of the state. 'Those things may not exist, or they may exist on the Kansas side,' Gallic said of 15 and the Mahomies. 'I would like them to continue to exist on the Missouri side.' Gallick was alluding to the fact that the Kansas Legislature passed a Sales Tax and Revenue (STAR) Bond package one year ago, aimed at trying to lure either the Chiefs and or the Royals to the west side of the state line. The Show-Me Institute's Senior Fellow Patrick Tuohey is against the bill and was the only one who testified against the State Senate Committee on Fiscal Oversight passing it. Tuohey came back to the capital city Tuesday. 'The package of STAR Bonds offered by Kansas is not at all competitive, and there's plenty of reporting on this,' Tuohey said to the Economic Development Committee. 'Kansas refuses to put public taxpayer money to back up the bonds if they don't generate enough tax revenue, and that means that investors are not going to be invested in buying this.' One person who came to the capitol to support the stadium package was Kansas City Sports Commission and Visit KC President and CEO Kathy Nelson. Nelson did not testify in Topeka in June of 2024 when Kansas lawmakers passed the STAR Bond package. 'In 2024, sports driven media coverage equated to more than 300 million total impressions, highlighting Kansas City as a travel destination,' Nelson said to the committee. 'Due to our sports teams, last year Kansas City, Missouri was highlighted as a top global travel destination by publications such as the New York Times, Wall Street Journal, Travel and Leisure, Lonely Planet and TIME Magazine. Nothing else puts us on a global map like these teams.' After the hearing, Nelson was asked whether she thinks the teams will stay in the region now that Kansas and potentially the Missouri legislature, will have tried to keep the teams through pieces of legislation. New Heartland Coca-Cola facility opens in Olathe 'I hope so,' Nelson said in response. 'I know both owners personally. I believe their hearts are here in the Kansas City region, and I think they want the opportunity to stay here. They don't want an opportunity to leave.' The full Missouri House of Representatives will likely take up the stadium package Wednesday. The session starts at 10 a.m. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
