ON THE COVER:Kemach Equipment has partnered with Stampede Compaction Equipment to supply locally manufactured walk-behind/pedestrian rollers to the South African market. Donned in the renowned Kemach Equipment yellow, the new-look machines will proudly display both Kemach and Stampede brands.
As a leading distributor of JCB earthmoving equipment and service solutions in South Africa, Kemach Equipment holds an approximate 2,5% market share in walk-behind rollers in Southern Africa with sales exceeding 100 machines over the past seven years. “Although the local market may not be massive, we believe it holds significant opportunities, especially in the plant hire space,” says Kemach Equipment’s National Support and Marketing Manager, Mark Senyard.
Bringing six blocks to life
Construction of Divercity Urban Property Fund’s iconic Jewel City redevelopment is forging ahead. The project is changing the face of Johannesburg’s CBD and revitalising six city blocks that have been closed to the public for decades.
Work has started on the first new residential building in Jewel City and, in addition, the first residential conversion of an existing building on site is now underway.
The Jewel City redevelopment initiative is a substantial investment in Joburg by Divercity, a new investment fund that is renewing and re-energising South Africa’s urban centres with unique inner-city precinct development. Divercity combines commercial buildings with affordable residential accommodation to create inclusive and diverse neighbourhoods. Its key shareholders and stakeholders are Atterbury Property, Ithemba Property and Talis Property Fund, and its cornerstone investors are RMH Property and Nedbank Property Partners.
Master Builders South Africa is calling for urgent government intervention to prevent further destruction of the construction industry in the country. The call follows Group Five’s filing for bankruptcy protection last week, the fifth major construction company to do so in less than a year.
Roy Mnisi, Executive Director of Master Builders expressed deep concern on the matter. “This is the fifth large firm to succumb in less than a year. In 2018 alone, NMC Construction went into voluntary liquidation while Basil Read, Esor Construction and Liviero Group applied for business rescue. We still have many other small-medium sized firms facing financial difficulties and yet, there has not been any government-industry engagement to develop a plan to halt the trend.” According to Mnisi, the industry has continually engaged government on the adverse impact of late/non-payment of contractors for work completed but the matter remains unresolved. “The decline has reached a very concerning level, so much that it is no longer a sectoral problem but a national crisis. We appeal to the government to open up to the industry and urgently find concomitant solutions to save it from a total collapse”.