There are now more than 100 registered Section 12J (S12J) companies in South Africa and it is estimated that the market has raised more than R3.6 billion in investments. S12J was instituted in 2009 with a 12 year sunset clause set to end in June 2021.
The unbundling and listing of MultiChoice will result in Naspers shareholders holding a direct interest in the video entertainment business. Naspers expects to unbundle and list its MultiChoice business on the JSE by the end of February if all goes according to plan. In a pre-listing statement, the global internet and media business said shares in the video entertainment business would start trading on the JSE on 27 February.
The video entertainment group says it will focus on returning its loss-making operations outside of South Africa to profitability as it prepares for a February listing. MultiChoice will list on the JSE at the end of next month in a move that will position Africa’s biggest pay-TV operator for further growth across the continent.
Few currencies matched the rand’s turbulence in 2017, with factors such as Trumpenomics, the firing of finance minister Pravin Gordhan and the appointment of Cyril Ramaphosa as ANC president, contributing to the R2.04 price swing during the year.
Expected changes to the income tax laws in March 2019 will allow members who emigrate before they reach retirement date more flexibility to withdraw their retirement funds when they leave the country.
Investors want more credible and relevant non-financial information from companies to make informed decisions.
As a parent you may be looking for special ways to treat yourself and your loved ones this festive season, but rather than spending your hard-earned money on soon-to-be forgotten toys or designer clothing, now is the perfect time to invest towards your child’s future with a Tax-Free Savings Account (TFSA).