🇿🇦 South Africa's Economic Pulse: Week of 28 April - 2 May 2025

By Loy de Jager, Principal at Upside Properties

🇿🇦 Key South African Economic Development: Durban Port Expansion

Encouraging momentum in South Africa's logistics infrastructure. Transnet has officially greenlit significant expansions at the Port of Durban-Africa's busiest container port. The initiative includes:

• Increasing annual container handling capacity from 2.9 million to 11 million TEUs.
• Major upgrades to port access roads.
• Expanding the vehicle terminal capacity from 600,000 to 1 million vehicles per year.
• Procurement of over 100 new pieces of cargo-handling equipment, including gantry cranes and straddle carriers.

These developments are not just about moving goods faster-they're about enabling trade growth, unlocking export potential, and creating jobs. Importantly, it represents a strategic shift from crisis management to long-term competitiveness.

🌍 Global Factors

U.S. Fed Policy in Focus Ahead of Next Week's Meeting
The U.S. Federal Reserve is due to meet on 6-7 May 2025, and markets are watching closely. The Fed last held interest rates steady in March, signalling a potential pivot later in the year if inflation trends lower. Since then, no new policy decision has been made.

While this has supported a moderate risk appetite globally, the real impact on capital flows to emerging markets like South Africa will become clearer after next week's announcement.

🏘️ Property Market Implications

The Port of Durban's expansion is particularly important for industrial and logistics property near eThekwini. As throughput capacity rises and efficiency improves, demand for warehousing, transport depots, and distribution nodes is expected to increase. This may lead to upward pressure on rentals and capital values in key nodes such as Bayhead, Clairwood, and Cato Ridge.

Further, investor confidence in logistics and manufacturing zones-especially along the N3 corridor-is likely to strengthen.

🌟 The Upside of the Week (Unrelated, but Uplifting)

In a remarkable achievement, 15-year-old Nigerian artist Kanyeyachukwu Tagbo-Okeke, who is autistic, has set a Guinness World Record for creating the world's largest art canvas. Unveiled in Abuja during World Autism Acceptance Day, the artwork spans 12,304 square meters and features a vibrant autism awareness ribbon surrounded by emojis. This initiative, part of the "Impossibility is a Myth" campaign, aims to raise awareness and support for individuals with autism. The proceeds will fund the Zeebah Foundation, which assists autistic individuals and their families in Nigeria. This accomplishment not only highlights the unique talents of individuals with autism but also brings attention to the need for greater support and inclusion.