Township Retail – the New Growth Engine for South African Property
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Township Retail – the New Growth Engine for South African Property
Stanlib Collective Investments
Stanlib Collective Investments
Q1 of 2024 | 3 years ago
A modern South African township, or ‘kasi’, has a dynamic economy of informal cash businesses, which fulfil the daily needs of its residents: spaza shops, street hawkers, barbers, taxis and taverns. Even though little of this kasi economy is captured by the official data, it is widely accepted that township GDP has grown at a staggering rate over the last decade. South African listed property companies with retail assets serving lower-income communities can confirm that their retail tenants have better weathered the economic difficulties that have followed Covid than their higher-LSM competitors.
UK-based M&G Pls increased its stake to asset manager Prudential FM and the manager renamed M&G Investments in 2023.
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Met Collective Investments in it s heydays administered almost a quarter of all SA registered third party funds before it s consolidation with Momentum Investments after merger of Metropolitan and Momentum in 2017.
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