THERE are 284 municipalities in SA and more than 150 of these local authorities have borrowed money from the Infrastructure Finance Corporation.

There are growing indications that US and European companies, as opposed to African companies, will rebuild Africa through the New Partnership for Africa's Development (Nepad).

SHOPS for Africa, a listed property loan stock company on the JSE Securities Exchange SA, said at the weekend it had acquired a major share in Sammy Marks' Square, a shopping centre located alongside the State Theatre in the Pretoria central business district.

Trade unions criticised First National Bank (FNB) yesterday for opposing Pepkor's purchase of ailing Fashion Africa (Fashaf), which saved 1000 jobs.

The acquisition of 140 CNA stores, combined with the group's recent purchase of cash discounters, Super Mart, is expected to add about R2bn in revenue to Edgars Consolidated (Edcon) over the next two years, CE Steve Ross said yesterday.

Shops for Africa, the focused retail property company that listed in the JSE property loan stock sector in July 2001, is aiming to more than treble the value of its portfolio to R1-billion.

 Overcapacity in the building industry and a weak rand have pushed SA building costs to historic lows against other countries.

The highest contract price of an air-conditioned office building in SA is now only US310/m² - 13% of the 2 350 cost in the US - according to a survey by international consultants E C Harris. It is only 42% of the $730 top cost in Slovakia, the next lowest on a list of 35 countries . Japan is the highest at $2 630/m².

'The price differential is at the point where it means multinationals will now open in SA because the setup cost is so low,' says Harris's head of cost research, Paul Moore. 'The low costs are reinforced by low labour costs, an important component of building.'

But it could also mean higher building-cost inflation: building costs rose 20,4% annualised last quarter.

Moore says there are also signs that SA contractors are using their price advantage to build up business elsewhere in Africa. 'With no funds for tourism or infrastructure, they are looking for outside opportunities, especially in the north,' he says.

Harris forecasts military construction will rise 17% this year as private property development slows down.

Joint report by Herbert Smith of Metroscape Town and Regional Planners & Development Consultants and JHI Professional Services, with country-specific input from JHI's International Division.

Expansion across South African borders is a topic that has received much attention in recent years, especially from retailers who are generally perceived to be leading the charge into Africa. But while there is good potential for both property investment and development in countries as far apart as Mauritius and Ghana, the decision to invest in Africa is not one to be taken lightly - especially in the case of a tangible investment such as real estate.

IN the bun-fight for domination of the food retailing business in South Africa, with Whitey Basson's Shoprite chain in one corner, and Sean Summers' Pick 'n Pay in the other, the outcome looks like a hard-fought draw, locally at least, with both groups claiming around 40% of the R50 billion industry.

Johannesburg - The Internet market in Africa doubled from 2.5m users to 5m last year, while the South African market grew by close on 80%.