Latest news with #R2.4m
The Citizen
2 days ago
- Business
- The Citizen
Cape country towns booming thanks to agriculture and tourism
The property market in several sought-after country towns including Swellendam, Bonnievale, Ladismith, Barrydale, Struisbaai, Riversdale, and Pearly Beach has seen a significant surge in transactions this year, according to Jaco Badenhorst, sales manager for Seeff Country and Karoo. Agents have reported a sharp increase in sales driven by buyers looking to relocate due to healthy local economies and low crime rates. The limited stock for sale has made the market highly competitive. Well-priced properties are attracting multiple offers and selling quickly, often within days of being listed. Lightstone data shows that over 8,000 transactions worth almost R9.5bn were concluded across the Cape countryside last year with about 90% of transactions below R1.5m. Freehold houses in the more popular towns averaged at between R1.8m to R2.5m. Semigration, retirement, and remote working are big drivers of the demand. Growth in local industries such as the major R4.5b Overberg Wind Farm Project near Swellendam is another boost while more buyers are also turning their holiday homes into their permanent residence, he says. Aside from the lifestyle aspects, Badenhorst says the attraction includes the ability to buy a lot more for your money in the country towns. Many people sell up in the big cities, and move to the small towns and start a small business, he adds. The towns mostly offer good infrastructure, access to schools, and proximity to bigger commercial centres. Properties are still overwhelmingly freehold houses, but the sectional title market is growing with new lifestyle and retirement estates coming into the market. There are also plenty of vacant plots in many areas, along with a mix of small holdings, agricultural farms, commercial properties, guest houses, and more. Towns such as Swellendam, Barrydale, and Riversdale have active agriculture, tourism, and small business sectors, which may appeal to new residents. An influx of workers and professionals has boosted demand for rental homes in and around Swellendam and Bredasdorp. Badenhorst says many landlords are reporting full occupancy, and rental prices are beginning to reflect the increasing demand. Val Anderton and Marinda Roux, agents with Seeff Swellendam say they have seen an increase in enquiries from Gauteng and Pretoria as young families look to relocate due to the excellent schools and wholesome environment to raise children. While the average price is in the R2.4m to R3.4m range, they are seeing interest in higher priced properties. Rentals are also in high demand. There's also growing interest in estates such as the new Oewerlust Estate, selling from R2.417m is for example also attracting investment buyers. The Barrydale area is very active in the R2.5m range with buyers coming from all over, especially the Cape, some downscaling or retiring, and others working remotely, says Beate Joubert, an agent with Seeff. Large homes suitable for conversion to guest houses are also in demand. Coastal towns such as Still Bay and Gansbaai are also seeing a rise in people moving to the areas. Adel Regtien, an agent with Seeff Still Bay says the town has always been a popular holiday and retirement destination and has grown significantly over the years, with an increasing number of permanent residents choosing to settle in the area thanks to its proximity to the Garden Route and its location just a few hours from Cape Town. Badenhorst says property values in high-demand areas will keep rising as more buyers seek country living. Another coastal hotspot, Gansbaai has also seen a significant surge in activity and prices over the past few years, according to Anet Rossouw from the Seeff. The average property price has climbed to approximately R2.25m – an increase of over R1m in just four years. This coastal gem is drawing strong interest from across South Africa, she adds. Nearly 60% of buyers are from Gauteng, with a further 10% from other provinces, and the remaining buyers primarily from the Western Cape in search of weekend getaway homes. Everyone wants a spot by the sea, says Rossouw, but it is becoming increasingly difficult given the growth in demand. It's now nearly impossible to find an average three-bedroom, two-bathroom home with a double garage for under R2.3m. With rising demand and limited supply, time is of the essence for buyers. Badenhorst says potential buyers should come prepared so as not to lose out on opportunities. Have your finances in order and work with an experienced agent who can help you move quickly when the right property becomes available. Issued by Gina Meintjes
The Herald
30-04-2025
- Business
- The Herald
Ghana arrests three Indian nationals over suspected gold smuggling ring
Three Indian nationals have been arrested in Ghana on suspicion of operating a gold smuggling syndicate that authorities believe has been taking tons of the precious metal out of the country for more than a decade, the West African country's gold trading regulator said on Tuesday. The three pleaded guilty at their arraignment and will remain in custody until a court hearing scheduled for May 12, said a spokesperson for the regulator GoldBod. Ghana and other African countries have been losing billions worth of gold every year due to smuggling. The country established a new government body known as GoldBod in March to streamline gold purchases from small-scale miners, increase their earnings and reduce the impact of smuggling. Under the new system, foreign companies can only get the precious metal from GoldBod. The regulator said on X the suspects, who are aged 35, 22 and 42, were apprehended at their residence in the southern city of Kumasi, which investigators said had been converted into an unauthorised gold trading centre. GoldBod said they were in possession of 1.9m cedis (R2.4m), 4.3kg of gold, two counting machines, a CCTV recorder and an Indian passport. The regulator said the suspects had not provided GoldBod with residence permits, work authorisations or tax payment records related to their business activities. GoldBod spokesperson Prince Kwame Minkah told Reuters: "Much of the smuggled gold is exported to India, China and the United Arab Emirates and we lose." Reuters
TimesLIVE
30-04-2025
- Business
- TimesLIVE
Ghana arrests three Indian nationals over suspected gold smuggling ring
Three Indian nationals have been arrested in Ghana on suspicion of operating a gold smuggling syndicate that authorities believe has been taking tons of the precious metal out of the country for more than a decade, the West African country's gold trading regulator said on Tuesday. The three pleaded guilty at their arraignment and will remain in custody until a court hearing scheduled for May 12, said a spokesperson for the regulator GoldBod. Ghana and other African countries have been losing billions worth of gold every year due to smuggling. The country established a new government body known as GoldBod in March to streamline gold purchases from small-scale miners, increase their earnings and reduce the impact of smuggling. Under the new system, foreign companies can only get the precious metal from GoldBod. The regulator said on X the suspects, who are aged 35, 22 and 42, were apprehended at their residence in the southern city of Kumasi, which investigators said had been converted into an unauthorised gold trading centre. GoldBod said they were in possession of 1.9m cedis (R2.4m), 4.3kg of gold, two counting machines, a CCTV recorder and an Indian passport. The regulator said the suspects had not provided GoldBod with residence permits, work authorisations or tax payment records related to their business activities. GoldBod spokesperson Prince Kwame Minkah told Reuters: "Much of the smuggled gold is exported to India, China and the United Arab Emirates and we lose."
Yahoo
07-03-2025
- Business
- Yahoo
Pleasing Signs As A Number Of Insiders Buy Metrofile Holdings Stock
It is usually uneventful when a single insider buys stock. However, When quite a few insiders buy shares, as it happened in Metrofile Holdings Limited's (JSE:MFL) case, it's fantastic news for shareholders. While we would never suggest that investors should base their decisions solely on what the directors of a company have been doing, logic dictates you should pay some attention to whether insiders are buying or selling shares. See our latest analysis for Metrofile Holdings The Group CEO & Independent Non-Executive Director Thabo Stanley Seopa made the biggest insider purchase in the last 12 months. That single transaction was for R1.8m worth of shares at a price of R2.22 each. That means that even when the share price was higher than R1.50 (the recent price), an insider wanted to purchase shares. While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company's future. In our view, the price an insider pays for shares is very important. It is generally more encouraging if they paid above the current price, as it suggests they saw value, even at higher levels. While Metrofile Holdings insiders bought shares during the last year, they didn't sell. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. By clicking on the graph below, you can see the precise details of each insider transaction! There are always plenty of stocks that insiders are buying. If investing in lesser known companies is your style, you could take a look at this free list of companies. (Hint: insiders have been buying them). I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. Our information indicates that Metrofile Holdings insiders own about R2.4m worth of shares. We do note, however, it is possible insiders have an indirect interest through a private company or other corporate structure. This level of insider ownership is notably low, and not very encouraging. It doesn't really mean much that no insider has traded Metrofile Holdings shares in the last quarter. However, our analysis of transactions over the last year is heartening. While we have no worries about the insider transactions, we'd be more comfortable if they owned more Metrofile Holdings stock. In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Metrofile Holdings. For instance, we've identified 4 warning signs for Metrofile Holdings (2 shouldn't be ignored) you should be aware of. Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies. For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
