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Articles by James Formby
PIK - PICK N PAY STORES LIMITED - Condensed Consolidated Interim Financial Results for the 26 Weeks Ended 25 August 2024 (H1 Fy25) - 28/10/2024
Condensed Consolidated Interim Financial Results for the 26 Weeks Ended 25 August 2024 (H1 Fy25) Pick n Pay Stores Limited Incorporated in the Republic of South Africa Registration number: 1968/008034/06 ISIN: ZAE000005443 JSE and A2X share code: PIK ("Pick n Pay" or "the Group") CONDENSED CONSOLIDATED INTERIM FINANCIAL RESULTS FOR THE 26 WEEKS ENDED 25 AUGUST 2024 (H1 FY25) This announcement is the responsibility of the directors and is an abridged summary of the information contained in the...
JAMES FORMBY: Building hope: infrastructure plans need fresh skills and finance models
There has been some progress towards the rollout and repair of SA’s planned infrastructure and existing infrastructure, but it is worryingly slow. We must see the acceleration of infrastructure development in 2022 or face further economic headwinds. The Infrastructure Fund, announced by the president in 2018, was laudable in its goal of jump-starting infrastructure-led growth in SA as the country struggles to emerge from the effect of the Covid-19 pandemic.
Team SA needs to plan for COP26
As the world’s 13th-highest carbon emitter, and the highest emitter in Africa, SA will come under the spotlight, writes James Formby 26 September 2021 - 00:07 James Formby Not since COP21 in 2015 (the meeting that produced the Paris Accord) have we seen such hope on global agreements and commitments around climate change as we do for the forthcoming UN Climate Change Conference of the Parties 2026 — or COP26 — set to take place in Glasgow from October 31 to November 12.
JAMES FORMBY: Can this time be different for SA?
Last week President Cyril Ramaphosa unveiled to parliament the third and final instalment of the government’s response to the devastation caused by Covid-19. First there was the immediate health response. Then came the social and economic relief package. Now lies ahead the hard work of reconstructing the economy. On the surface, at least, the economic recovery plan looked similar to what we have heard before. Cynics may wonder if it is fated to again promise much and deliver little.
What SA can do today to nurture green shoots of progress
The major steps SA needs to take to jump-start growth and breathe life into our ailing economy are well known and continually flagged. Implement greater fiscal discipline, tackle corruption, keep the lights on, loosen labour laws. This is a lot of things to do, and the sheer size of the challenge and tackling it with a government of differing ideological leanings means progress is inchingly slow. We have a new Eskom CEO. There are signs that some of those involved in corruption are to be prosecuted.
Public-private partnerships can ride to SA’s rescue
As Eskom continues to face challenges, SA’s private sector can no longer be ignored as a vital funding and expertise partner in solving the country’s desperate power and other infrastructure needs. As the country’s overall debt passes levels that are prudent and the interest bill crowds out other government spending, it is clear that the government needs to enlist the private sector to help deliver infrastructure via public-private partnerships (PPPs).
Powerhouse India is poised to become a key brick in Africa’s trade construction
Deputy Reserve Bank governor Daniel Mminele cites continued tightening in global financial conditions, a change in investor sentiment towards emerging markets, escalating trade conflicts, and ...
Infrastructure projects are the way to energise our ailing economy
The R400bn infrastructure fund recently announced by President Cyril Ramaphosa offers a welcome boost to public-private partnerships (PPPs) and concessions. A meaningful partnership between the government and the private sector in infrastructure expansion and maintenance will provide a much-needed stimulus to our ailing economy. I strongly support the government’s renewed commitment to strategically important, large-scale infrastructure initiatives and projects.
How well will SA’s resilient listed companies weather the junk-status storm?
The JSE recently reached new heights, with the all share index passing the 60,000-point mark, while local companies have raised a total of R152bn from investors during 2017, the second-highest level after the R161bn raised in 2015. The JSE also recently had the largest listing in SA’s history, when Steinhoff African Retail Limited (Star) raising R16bn.
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