Market Commentary | The week that was – July 30th

By |2024-07-30T07:44:31+02:00July 30, 2024|Market Commentary|

Capitec, Cashbuild, and the NHFC's Zakhelikhaya project offer affordable, customizable homes for first-time buyers in Gauteng with incomes between R3,500 and R22,000, aiming to boost homeownership and address housing shortages. In Cape Town, the Shoprite Group is pioneering renewable electricity wheeling at its Brackenfell headquarters, using excess power from Checkers Hyper Brackenfell, sold by Enpower Trading, to reduce reliance on the national grid and advance its carbon neutrality goal by 2050. Meanwhile, TotalEnergies has scrapped its gas-condensate projects at Brulpadda and Luiperd off South Africa's coast, finding them too costly and challenging. The $400 million investment and 1 billion barrels of estimated hydrocarbons were deemed unviable, impacting South Africa’s gas-to-coal shift plans. Additionally, TotalEnergies will exit a nearby oil block but continue exploration near Namibia.

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