The 13th annual IAB Bookmark Awards took place today in a prestigious virtual celebration. Hosted by the multi skilled Selae Thobakgake and Merica Monamodi; the most thrilling and innovative digital marketing campaigns of the past year were announced.
New online liquor store Liquor.co.za has launched in South Africa. The digital platform caters to the need for an e-commerce portal that can service both direct-to-customer (D2C) and high-volume business-to-business (B2B) requirements, and is the result of a collaboration of expertise from key players in the liquor and entertainment industries.
Construction on The Capital Mbombela's R205m project, set to be a game-changer on the city's hotel and accommodation industries, is well underway with an anticipated hotel opening set for November 2021.
"The city hasn't seen any significant new additions to its hotel repertoire since development ahead of the 2010 FIFA World Cup projects," says Marc Wachsberger, managing director of The Capital Hotels and Apartments.
"Its status as a leading city in Mpumalanga, at the heart of the province's tourism and agriculture sectors, means that the time is perfect to build an exciting new offering that will be appealing to tourists and corporates alike."
The International Federation of Consulting Engineers (FIDIC) has granted the African Development Bank (AfDB) a non-exclusive licence to refer to seven of its major contracts for projects they finance and the documents may be used as part of the bank's standard bidding documents.
Image source: Gallo/Getty
The contracts include the latest 2017 Second Edition FIDIC contracts and 1999 editions, which cover a wide range of international construction and infrastructure work.
The move by the AfDB is another significant endorsement for FIDIC contracts from a multilateral development bank, following similar agreements signed with the World Bank, Inter-American Development Bank, Caribbean Development Bank, the European Bank for Reconstruction and Development and the Asian Infrastructure Investment Bank in recent months.
FIDIC chief executive Dr Nelson Ogunshakin said: “We are delighted to have signed this agreement with the African Development Bank, an organisation doing fantastic work fighting poverty and improving living conditions for people in Africa. The signing of this agreement means that FIDIC has now entered into similar licencing agreements with almost all of the major global funding organisations. By adopting the FIDIC contracts on major projects, the AfDB is demonstrating that they endorse the fair and balanced approach that these documents offer to parties on major construction contracts and we believe that this will create more certainty in the market as banks, lenders, investors and clients adopt them.
“The bank’s endorsement should also provide additional comfort to the financial, institutional and private equity investors operating in the global market to adopt the use of FIDIC standard procurement contracts as an effective tool to mitigate the risks associated with investable infrastructure asset class.”
Enhancing equity and fairness
Commenting on the agreement, Frank Mvula, the bank’s director of fiduciary services and inspection, said: “We are glad to have concluded an agreement with FIDIC that would enable us to incorporate FIDIC contracts in some of our standard bidding documents. There is no doubt that the use of FIDIC contracts is a step towards enhancing equity and fairness as well as efficient and effective contract management as emphasised under the bank’s new procurement framework.”
FIDIC president Bill Howard said: “I’m delighted that FIDIC has concluded this agreement with the African Development Bank. It’s a key aim of ours to strengthen FIDIC’s relationships with the multilateral development banks and other international funding institutions as improved communication and cooperation will bring benefits to the whole industry. Agreements like these can only be good for FIDIC, the global infrastructure sector and the banks and I look forward to a mutually beneficial relationship with the bank over the coming years.”
The seven FIDIC contract documents covered by the FIDIC/African Development Bank agreement are as follows:
Conditions of Contract for Construction for Building and Engineering Works Designed by the Employer (“Red book”), Second edition 2017;
Conditions of Contract for Plant & Design-Build for Electrical & Mechanical Plant & for Building & Engineering Works Designed by the Contractor (“Yellow book”), Second edition 2017;
Conditions of Contract for EPC Turnkey Projects (Silver book), Second Edition, 2017);
Client/Consultant Model Services Agreement (“White book”), Fifth Edition 2017;
Conditions of Contract for Design, Build and Operate Projects (“Gold book”) First Edition 2008; and
The Short Form of Contract (“Green book”), First Edition 1999;
Conditions of Contract for Construction for Building and Engineering Works Designed by the Employer (“Red book”), First edition 1999.
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