Business Day reports that South Africa’s 15 water boards, which manage water infrastructure, are owed R21.3 billion by municipalities. This debt threatens the sector’s viability, as non-payment hampers the boards’ ability to maintain and operate their systems. The government plans to address this issue through an inter-ministerial effort. Kasief Isaacs, head of private markets at Mergence Investment Managers, noted that South African municipalities lose 40% to 50% of potable water before it reaches the end user, and despite being the 30th most water-scarce country globally, the average consumption is 235 liters per person per day, exceeding the global average.
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Absa CEO Arrie Rautenbach steps down as the group’s valuation continues to lag that of its peers
Commenting on Absa’s results and the surprise announcement of CEO Arrie Rautenbach stepping down, Mergence Senior Analyst Radebe Sipamla said