The National Treasury introduced Section 12J (S12J) investments in 2009. Through S12J of the Income Tax Act 1962, a tax incentive was created which would enable investors who invest in qualifying SMEs to write off 100% of their investments in a particular tax year. The intention of the S12J incentive was always to overcome...
One of the only shocks in South Africa's 2021 national Budget was the unexpected abolishment of the Section 12J tax breaks. Section 12J of the Income Tax Act affords South Africans a tax rebate if their investments are made through an approved venture-capital company. The idea was to encourage investments in small businesses and riskier ventures...
From January 1, 2021, Africa is ushering in a new economic era with the implementation of the African Continental Free Trade Area (AfCFTA) Agreement. The agreement was to be implemented in July 2020 but was suspended because of the global pandemic. Several pundits and major organisations have lauded the initiative, but it presents tough questions...
Set up in 2010 as one element of the broad-based black economic empowerment transaction conducted by South African Breweries Ltd (SAB), the SAB Foundation is an independent trust that annually invests millions of rands towards developing entrepreneurship in South Africa and the benefit of the wider South African community. The programme focuses on providing funding...
Wits University’s Tshimologong Digital Innovation Precinct with financial support from J.P. Morgan, have launched Ya Basadi, a 4IR programme targeted at primarily female-owned businesses, which are already trading and have a clear understanding of how tech can scale their businesses. The programme is also aimed at underserved female entrepreneurs from low-income backgrounds. Tshimologong will facilitate the programme and...
The Black Business Council (BBC) and Ubank Limited have signed a partnership agreement to establish a R1 billion fund for Township and Rural Economy Revitalisation. The fund will be made available to BBC members and other SMME’s to the value of R250 million per annum over the period of five (5) years, targeted at...
702 and Ninety One, previously Investec Asset Management, understand that the Covid-19 pandemic and recent lockdown has meant that the small businesses that rely on cash flow to stay afloat desperately need a lifeline. They also realise the need to show support for entrepreneurs, who are under massive pressure due to the lockdown but...
