Calgro M3’s KZN exit due to construction mafia and other issues

South Africa News News

Calgro M3’s KZN exit due to construction mafia and other issues
South Africa Latest News,South Africa Headlines
  • 📰 Moneyweb
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 77%

The disruption of the Bridge City project in KwaMashu in KwaZulu-Natal by the so-called construction mafia 18 months ago led to the closure of the site for six months and contributed to CalgroH M3’s decision to exit the province. Moneyweb BusinessNews

The disruption of the Bridge City project in KwaMashu in KwaZulu-Natal by the so-called construction mafia 18 months ago led to the closure of the site for six months and contributed to Calgro M3’s decision to exit the province. Wikus Lategan, CEO of the JSE-listed property and private memorial parks developer, stressed on Tuesday its decision was not only based on the activities of the construction mafia but “lots of issues that impacted various activities”.

“We are working in places where we really can work with the community to build houses for them,” he said. Lategan said the modus operandi of the construction mafia is to extort the labour force through violence and intimidation to disrupt construction sites. He said the construction mafia wants to bring in third parties, take a portion of everyone’s wage and control the taxis that drive onto sites.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Moneyweb /  🏆 5. in ZA

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

BACKSTORY: Bridgette Walsh-Kruger of FNB Private ClientsThe FM talks to Bridgette Walsh-Kruger, CEO of FNB Private Clients.
Read more »

Netflix co-CEO: “Thank God we’re done with shrinking quarters”Netflix co-CEO: “Thank God we’re done with shrinking quarters”Netflix Inc is growing again, and Hollywood can breathe a sigh of relief.
Read more »

Reserve Bank seizes former Steinhoff CEO Markus Jooste’s assets – this is what they tookReserve Bank seizes former Steinhoff CEO Markus Jooste’s assets – this is what they tookThe South African Reserve Bank (SARB) has seized assets belonging to former Steinhoff CEO Markus Jooste.
Read more »

SCORPIO: Unpacked: SA Reserve Bank’s attachment swoop on ex-Steinhoff CEO Markus Jooste’s billions in assetsSCORPIO: Unpacked: SA Reserve Bank’s attachment swoop on ex-Steinhoff CEO Markus Jooste’s billions in assetsThe South African Reserve Bank (SARB) links former Steinhoff CEO Markus Jooste to R4.836-billion worth in contraventions of the Exchange Control Regulations. The SARB argues Jooste used companies in the Steinhoff group as well as his racehorse company Mayfair Speculators to syphon money away from Steinhoff to enrich himself and others. In an attempt at clawing back these funds, the SARB is now chasing after all assets linked to Jooste.
Read more »

Student funding organisation Feenix names Cara-Jean Petersen as new CEO - HypertextStudent funding organisation Feenix names Cara-Jean Petersen as new CEO - HypertextCara-Jean Petersen takes over her role as CEO, having previously been the COO at Feenix, which has raised R144 million for students to date.
Read more »



Render Time: 2025-03-25 15:45:08