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Finance News Update | 27 July 2024

Writer: Masego M
Masego M
Jul 27
3 min read


General Headlines Government seeks private capital to tackle water crisis South Africa is turning to private investors to help solve its worsening water crisis. The government plans to use blended-finance projects and public-private partnerships to fund new infrastructure, since public money alone cannot cover the backlog. The presidency’s National Water Action Plan explains that revenues from selling piped water can attract private financing, and notes that major national projects worth R130 billion are already moving forward with private-sector support.The crisis is not about water scarcity but about failing infrastructure and poor municipal management. Almost three quarters of water authorities and 81% of wastewater systems are in poor or critical condition. Nearly half of treated water is lost through leaks, theft, or faulty meters before it generates revenue. These problems threaten both public health and economic activity, making urgent investment and reform essential. (MoneyWeb)

Markets and Investments Sarb holds rates steady at 7% The South African Reserve Bank’s Monetary Policy Committee decided to keep the repo rate at 7%, which means the prime lending rate stays at 10.5%. This was unexpected because inflation rose more sharply than expected, reaching 5% in June from 4.5% in May. The bank chose not to raise rates further, aiming to balance controlling inflation with protecting South Africa’s fragile economic recovery. Governor Lesetja Kganyago explained that while risks to inflation remain, most committee members supported holding rates steady, with only two preferring a small increase. The committee agreed the outlook is uncertain, but the current stance is restrictive enough after the last rate hike. Forecasts suggest rates will stay stable for the rest of the year, with possible cuts later as inflation falls toward 3% and policy shifts back to neutral levels. (MoneyWeb)

Property and Real Estates  Joburg office sales driven by conversions: 43% of transactions are repurposings The commercial property market in South Africa is slowly recovering, but progress weakened in the second quarter of 2026 as the economy worsened. Property brokers reported lower satisfaction with market conditions, though the overall trend still points to gradual recovery, uneven across sectors and regions. Industrial property is performing best, while retail is stabilising. The office sector, however, remains the weakest due to high vacancies, limited tenant growth, and changes linked to hybrid work. Office sales activity has been flat, with demand focused mainly on modern, well-located buildings rather than broad expansion. Coastal cities like Cape Town and Nelson Mandela Bay show stronger office sales compared to inland markets such as Johannesburg, Tshwane, and eThekwini, which remain weak. In Johannesburg, much of the activity comes from converting old office buildings into residential or mixed-use developments, making up about 43% of office sales. This highlights the oversupply problem in the city’s office market, which is expected to remain the slowest part of the commercial property sector to recover. (PropertyWheel) Good news for homeowners in South Africa The South African Reserve Bank’s Monetary Policy Committee decided not to raise interest rates, keeping the repo rate at 7% and the prime lending rate at 10.5%. This gives relief to homeowners and buyers who would otherwise face higher borrowing costs. Many expected a hike after inflation rose to 5% in June, but the committee voted 4–2 to hold rates, noting that most prices outside of fuel remain contained. Governor Lesetja Kganyago explained that lower inflation forecasts influenced the decision, even though June’s figures were higher than expected. Property experts welcomed the move, saying it eases pressure on households already struggling with rising costs like municipal tariffs and fuel. The decision reflects the need to balance inflation risks with supporting economic activity and consumer finances. (BusinessTech)

 
 
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