Macpherson releases tenders for 24 state-owned buildings:
The department of public works and infrastructure has identified 24 state-owned properties, collectively valued at more than R122 million, across South Africa, to be released for requests for proposals from public and private entities.
This comes after the department’s minister, Dean Macpherson, KwaZulu-Natal MEC Martin Meyer and eThekwini mayor Cyril Xaba signed a memorandum of understanding in Durban last month committing to use public assets for the public good.
The release of the 24 properties for potential refurbishment and new uses for the land marks a shift for the department, which previously retained high-value properties that no longer served any purpose, many of which stand unused and dilapidated. In some cases, they have been hijacked.
The department has released a document listing the properties. Among them are the old police barracks Excelsior Court in Durban, the Venda Presidential House in Polokwane, the former home affairs building in Pretoria, Ramelna Court Flats in Bloemfontein and 104 Darling Street in Cape Town.
The total municipal valuations of 16 of the listed properties amounts to just over R122.6 million, while eight of the properties do not have their municipal values included.
According to the department, members of the public and private entities have until 13 March next year “to make proposals on how these properties can be used to ensure that they contribute to the public good, help ignite job creation and add value to their communities”.
The department will evaluate these to consider which are feasible before moving ahead with the next step, which could include granting long-term leases, entering into public-private partnerships or selling the properties.
Macpherson said the release of the list marked a “milestone” for the department.
“We will make good on our promise to invite private and public roleplayers on this scale to bring us proposals on how these properties can be utilised towards truly benefiting the people of South Africa, either through repurposing or redevelopment,” he said.
“This means that, where feasible, the state may partner with the private sector to ensure that properties contribute to economic growth and job creation. We believe these properties will attract significant investment and jobs through their redevelopment.
Macpherson said the decision signalled a shift from hanging on to properties, despite them serving no purpose.
“By working together with the municipality and the provincial government, we are charting a new course for how state-owned properties can be utilised to serve the people of South Africa.”
Depending on the success of the current request for proposals process, additional properties will be considered for release as part of the programme.
The eThekwini municipality and the KwaZulu-Natal department of public works and infrastructure are following similar processes of releasing unused properties they own for public and private sector proposals.
The tender documents can be accessed here.
Leveraging price action and sentiment analysis for profitable gold trading:
Gold remains a cornerstone of the global financial market, offering South African traders unique opportunities to hedge against economic uncertainties while seeking profitable trades. For those wondering how to trade gold effectively, the combination of price action and sentiment analysis provides a robust strategy. In this article, we’ll explore advanced techniques tailored for South Africa’s market conditions, ensuring you can maximize your gains while managing risk.
Why gold trading is popular among South African traders
Gold, often referred to as a “safe-haven asset,” holds a special allure for South African traders for several reasons:
- Hedge Against Inflation: With the rand (ZAR) often experiencing volatility, gold provides a reliable hedge.
- Global Liquidity: Gold’s deep market ensures consistent opportunities for traders.
- Risk Management: In times of global or local economic instability, gold prices tend to rise, offering protection against losses in other markets.
Understanding price action in gold trading
Price action refers to analyzing historical price movements without relying heavily on indicators. For advanced South African traders, this method provides real-time insights into market sentiment.
Key price action techniques
- Support and resistance levels
- Identify major levels where price has historically reversed or consolidated.
- Use these zones to plan entry and exit points.
- Candlestick patterns
- Pin bars: Often signal reversals and are particularly effective in gold trading.
- Engulfing patterns: Indicate strong momentum in either direction.
- Trendlines and channels
- Draw trendlines to capture market direction and spot potential breakouts.
- Trading within a channel can help identify overbought or oversold conditions.
The role of sentiment analysis in gold trading
Sentiment analysis involves gauging the mood of the market, which can provide a powerful edge for South African traders.
Key drivers of gold sentiment
- Global risk events
- Monitor geopolitical tensions, such as conflicts or trade disputes, as these often drive gold prices higher.
- Economic data
- US economic reports, including non-farm payrolls (NFP) and inflation data, significantly impact gold prices.
- For South African traders, the USD/ZAR exchange rate also plays a crucial role in determining gold’s local value.
- Central bank policies
- Pay attention to interest rate decisions from the US Federal Reserve and the South African Reserve Bank (SARB).
- Market speculation
- Use tools like the Commitment of Traders (COT) report to gauge large institutional positions on gold.
Combining price action and sentiment analysis
The integration of price action and sentiment analysis can provide a comprehensive trading strategy for gold.
Step-by-step strategy
- Identify market sentiment
- Check for news impacting global markets or the local economy.
- Assess whether sentiment is risk-on (negative for gold) or risk-off (positive for gold).
- Analyze key levels using price action
- Mark support and resistance zones on the chart.
- Wait for price action confirmation, such as candlestick patterns, before entering trades.
- Align trades with sentiment
- During a risk-off sentiment, focus on long positions in gold.
- In a risk-on environment, consider shorting gold at resistance levels.
- Set stop-loss and take-profit levels
- Use recent price action to determine logical stop-loss levels.
- Target previous swing highs or lows for take-profit.
Tools for gold trading in South Africa
To implement these strategies effectively, South African traders need access to the right tools:
- Economic calendars: Stay updated on global events that could affect gold prices.
- Charting platforms: Platforms like TradingView and MetaTrader 5 offer advanced tools for price action analysis.
- Local brokers: Choose brokers with low spreads on gold CFDs and fast execution speeds.
- Sentiment indicators: Tools like Fear & Greed Index or market sentiment meters help assess the broader mood.
Risk management for gold trading
Gold’s volatility makes it a double-edged sword for traders. While it offers high profit potential, losses can also be significant without proper risk management.
Key risk management tips
- Limit exposure: Avoid over-leveraging; risk only 1–2% of your account balance per trade.
- Use trailing stops: Lock in profits as the trade moves in your favor.
- Diversify: Combine gold trades with other instruments, such as forex pairs like USD/ZAR or EUR/USD.
- Stay informed: Keep an eye on both local economic conditions and global trends.
How South Africa’s economy impacts gold trading
South African traders need to account for local factors influencing their trading outcomes:
- USD/ZAR exchange rate
- A weaker rand increases the cost of trading gold but also amplifies profits for successful trades.
- Local inflation
- High inflation often drives South African investors toward gold as a store of value.
- Commodity correlations
- South Africa, being a major gold producer, has a unique relationship with gold prices. A drop in mining output or political instability can impact market dynamics.
Trading gold during economic downturns
Gold thrives in uncertain times, making it an ideal asset during economic downturns.
Strategies for downturns
- Safe-haven focus: Take advantage of rising gold prices when risk sentiment is negative.
- Long-term holdings: Use price action to identify optimal long-entry zones for holding gold.
- Pair trades: Hedge your gold positions with correlated instruments like the USD or Swiss Franc.
Final thoughts
For advanced South African traders, combining price action with sentiment analysis offers a dynamic and effective approach to gold trading. By focusing on both technical and fundamental factors, you can better navigate the complexities of the market and capitalize on gold’s unique volatility.
Whether you’re trading during global economic turmoil or leveraging local market conditions, understanding how to trade gold effectively is essential for consistent success. By mastering these advanced techniques, South African traders can unlock the full potential of gold trading in today’s ever-changing financial landscape.
Fighting Misinformation with AI | A Conversation with Israel Olatunji Tijani and ChatVE:
In the latest episode of The Angle Podcast, we dive into the world of tech-driven innovation with Israel Olatunji Tijani, founder of ChatVE—an AI-powered fact-checking tool developed to tackle misinformation and disinformation on social media. Based in Lagos, Nigeria, Israel is an ICT for Development (ICT4D) expert driven by a mission to create technology solutions that prioritise impact over profit.
ChatVE emerged as the winning concept from a Code for Africa hackathon in 2023. This groundbreaking tool is designed to verify claims across text, images, and video, seamlessly integrating with platforms like X (formerly Twitter). By employing advanced AI, ChatVE offers real-time fact-checking, helping users discern truth from deepfakes, propaganda, and false narratives.
“The speed at which misinformation spreads is staggering,” Israel explains. “With ChatVE, we aim to empower users to verify content before it goes viral, reducing harm and fostering accountability.”
The conversation sheds light on the technical and ethical challenges of fact-checking in the digital age. Israel elaborates on ChatVE’s sophisticated training processes using verified datasets, its capability to analyse metadata, and its unique “I’m not sure” feature—a deliberate mechanism to ensure accuracy by avoiding false conclusions. Users can tag @ChatVE_ in posts or tweets to initiate the fact-checking process, with the chatbot responding directly within the thread.
Beyond its current functionality, ChatVE is also positioned as a versatile tool for combating violent extremism and improving online discourse through its toxic comment filtering engine.
Looking ahead, Israel shares ambitious plans for ChatVE’s future – expanding access to underserved communities via SMS and USSD messaging, supporting African languages, and exploring monetisation opportunities through personalised news content and business-specific chatbots.
“This is just the beginning,” Israel emphasises. “We’re building tools to tackle the unique challenges of misinformation in Africa and beyond.”
Join us for an engaging discussion that delves into the intersection of technology, social good, and the fight against digital disinformation. Israel’s vision for ChatVE offers hope for a safer, more informed digital landscape, not just for Africa, but for the global community.
Scott Peter Smith is a co-founder of The Angle and founder of Submedia+, a cross-platform publisher in non-fiction storytelling. He is the former chief digital officer of the Mail & Guardian, where he led the publication’s digital strategy and product development.
The Angle – African perspectives on digital culture, media, money and governance.
The Angle explores African perspectives on digital culture, creativity, media, money, and governance. Through engaging storytelling and authoritative insights, we spotlight the innovators and technologies shaping the continent’s digital future.
Our mission is to deliver actionable, illuminating insights on Africa’s evolving digital culture—spanning creativity, business, technology, and policy. We celebrate the creators, businesses, and policies breaking into the mainstream, while amplifying the voices and innovations carving the path forward. https://theangle.africa/
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