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New projects worth R51-billion - Nedbank
Fixed investment in South Africa has grown strongly, despite poor economic growth, with Nedbank reporting that 33 new capital expenditure projects worth nearly R51-billion are underway according to a report published in the print and electronic editions of Business Report.
Nedbank says the investments represent a promising source of economic growth for the future. Nicky Weimar, the senior economist at the bank who compiled the report says that over 82% of the number and value of the projects came from the private sector, with most of them in the mining and manufacturing sectors.
The report says that manufacturing projects worth R5,9-billion were recorded in the first six months of this year while mining projects reached a whopping R34,2-billion during the period.
Business Report says the R51-billion investment in the first six months of this year is significantly higher than the same period last year. A total of R53-billion invested in capital expenditure projects during the whole of last year.
Read the full report in the electronic editions of Business Report.
Read the Nedbank report.
