Cape Town Finance – Bungeni http://bungeni.org/ Fri, 04 Jun 2021 22:20:26 +0000 en-US hourly 1 https://wordpress.org/?v=5.7.2 https://bungeni.org/wp-content/uploads/2021/05/bungeni-icon-150x150.png Cape Town Finance – Bungeni http://bungeni.org/ 32 32 Broadening the scope in emerging economies and the emergence of autonomous flight technology https://bungeni.org/2021/06/04/broadening-the-scope-in-emerging-economies-and-the-emergence-of-autonomous-flight-technology/ Fri, 04 Jun 2021 22:00:00 +0000 https://bungeni.org/2021/06/04/broadening-the-scope-in-emerging-economies-and-the-emergence-of-autonomous-flight-technology/

DUBLIN, June 4, 2021 / PRNewswire / – The report “Helicopter Tourism Market Forecast to 2028 – COVID-19 Impact and Global Analysis by Tourism Type and Property Type” has been added to ResearchAndMarkets.com offer.

Research and Markets logo

The helicopter tourism market was valued at $ 745 million in 2020 and should reach US $ 1,014.9 million by 2028; it is expected to grow at a CAGR of 3.94% from 2020 to 2028.

Aviation Accretion; Bird’s Eye View Helicopters LLC; Liberty helicopter; Cape Town helicopters; Helicopter Flight Services, Inc .; Maverick aviation group; Papillon Grand Canyon Helicopters; Zip Aviation; Heli Chicago and Lisbon Helicopters are among the few major players operating in the global helicopter tourism market.

The tourism industry has flourished over the years and is constantly growing. The tourism demand of all classes of society has led to the emergence of various types of tourism methods.

Road tourism dominated the industry for a long time, but robust new tourism methods have emerged in recent years, such as river tourism and air tourism. The increase in disposable income among the masses in developed countries as well as in developing countries has resulted in an increase in air tourism by helicopter. This factor has had a positive impact on the helicopter tourism market.

The helicopter tourism market is segmented on the basis of tourism type and property type. Depending on the type of tourism, the market is segmented into general tourism and personalized tourism. The tourism type segment is expected to experience significant growth during the forecast period. Based on the type of ownership, the helicopter tourism market is segmented into fractional ownership and charter service. The property type segment is expected to hold the largest market share during the forecast period.

The COVID-19 pandemic has affected all businesses around the world since December 2019. The continued growth in the number of patients infected with the virus has forced governments to ban the transport of humans and goods. The tourism sector has suffered heavy losses due to travel restrictions imposed by the government of several countries around the world, which has resulted in a drastic drop in the number of visitors to tourist spots.

In addition, social or physical distancing measures imposed by governments have limited social gatherings in tourist destinations. These adversities have led to the reduction in the business volume of the helicopter tourism market.

Main topics covered:

1. Introduction

2. Key points to remember

3. Research methodology

4. Scenery of helicopter tourism market
4.1 Market overview
4.2 Ecosystem analysis
4.3 Expert advice
4.4 PEST analysis

5. Helicopter Tourism Market – Key Industry Dynamics
5.1 Main market drivers
5.1.1 Growing tourism industry growth associated with positive economic outlook
5.1.2 Growing interest in air tourism
5.1.3 Growing Adoption of Helicopter Taxi Service
5.2 Key market restrictions
5.2.1 Impressive number of past helicopter accidents
5.3 Key market opportunity
5.3.1 Broadening the scope of action in emerging economies
5.4 Future trend
5.4.1 Emergence of autonomous flight technology
5.5 Impact analysis of conductors and stresses
5.5.1 Analysis of Driver’s Helicopter Tourism Market Impact and Restraints

6. Helicopter Tourism Market – Global Market Analysis
6.1 Global Helicopter Tourism Market Overview
6.2 Global Helicopter Tourism Market Forecast and Analysis
6.3 Market Positioning – Top Five Players

7. Helicopter Tourism Market Analysis – By Tourism Type
7.1 Overview
7.2 Helicopter tourism market breakdown, by type of tourism, 2018 and 2027
7.3 General tourism
7.4 Personalized tourism

8. Helicopter Tourism Market Analysis – By Property Type
8.1 Overview
8.2 Helicopter tourism market split, by type of property, 2018 and 2027
8.3 Fractional ownership
8.4 Charter service

9. Global Helicopter Tourism Market – Geographic Analysis

10. Impact of the COVID-19 epidemic

11. Industry landscape
11.1 Overview
11.2 Market initiative
11.3 Development of new products

12. Company profiles

  • Aviation Accretion

  • Bird’s eye view Helicopters LLC

  • Liberty helicopter

  • Cape Town helicopters

  • Helicopter Flight Services, Inc.

  • Maverick Aviation Group

  • Grand Canyon Butterfly Helicopters

  • Zip Aviation

  • Heli Chicago

  • Lisbon helicopters

For more information on this report, visit https://www.researchandmarkets.com/r/4hg4r7

Media contact:

Research and markets
Laura Wood, senior
press@researchandmarkets.com

For EST office hours, call + 1-917-300-0470
For USA / CAN call toll free + 1-800-526-8630
For GMT office hours, call + 353-1-416-8900

US Fax: 646-607-1907
Fax (outside the United States): + 353-1-481-1716

Cision

Cision

See original content: http://www.prnewswire.com/news-releases/global-helicopter-tourism-market-2021-2028-widening-scope-in-the-emerging-economies–emergence-of-autonomous- flight -technologie-301305998.html

SOURCE Research and Markets


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Telkom’s only gift to an MP – a Samsung S8 smartphone for Julius Malema https://bungeni.org/2021/06/04/telkoms-only-gift-to-an-mp-a-samsung-s8-smartphone-for-julius-malema/ Fri, 04 Jun 2021 06:01:07 +0000 https://bungeni.org/2021/06/04/telkoms-only-gift-to-an-mp-a-samsung-s8-smartphone-for-julius-malema/

The Joint Committee on Ethics and Interests of Members of Parliament has published its register of financial interests of Members for 2019, which includes many freebies from telecommunications companies.

The purpose of the registry is to ensure transparency and to instill public confidence in Parliament.

All deputies (deputies) are required to declare significant holdings in companies, shares held and gifts received.

By making this information public through the registry, people will theoretically be able to get a better view of the factors that can influence the actions or words of an MP.

While many MPs take this seriously and have provided detailed descriptions of their interests, others have not disclosed their interests before the required deadline.

The committee is now considering imposing sanctions on MPs who have not disclosed their interests.

MyBroadband looked at the freebies that big telecom companies like Vodacom, MTN and Telkom gave to MPs during the reporting period.

Telkom only gave one MEP one gift: a Samsung Galaxy S8 smartphone worth R11,000 to EFF leader Julius Malema.

MTN has donated various goods to good causes sponsored by Members of Parliament. The freebies included bicycles, school shoes and projectors for schools.

MTN’s only personal gift to an MP was a bottle of 18-year-old Glenfiddich single malt whiskey from MTN SA CEO Godfrey Motsa to Finance Minister Tito Mboweni.

Vodacom was more generous and sponsored Durban July, Cape Town Jazz Festival and tickets for football matches to many MPs.

The table below gives an overview of the gifts of Vodacom, MTN and Telkom declared by the deputies.

Gifts, hospitality and benefits to Members
Company deputy Party Gift Value
Telkom Jules Malema FEP Samsung galaxy s8 11,000 rand
MTN Tito Mbowéni ANC Glenfiddich 18 year old single malt whiskey 1000 rand
Vodacom Obed bapela ANC Vodacom Durban July tickets 10,000 rand
Vodacom Obed bapela ANC Cape Town Jazz Festival 8,000 rand
Vodacom Barbara creecy ANC Flowers R400
Vodacom Cedrick Frolick ANC Cape Town Jazz Festival 8,000 rand
Vodacom Pinky kekana ANC Vodacom Durban July tickets Unknown
Vodacom Mmamoloko Kubayi-Ngubane ANC Vodacom Durban July tickets R4,800
Vodacom Charlie mathale ANC Vodacom Durban July tickets 14 142 R
Vodacom Thulas Nxesi ANC Three tickets to a football match R3.950
Vodacom Lindiwe Zulu ANC Flowers R500
Vodacom Lindiwe Zulu ANC Vodacom Durban July tickets 3,000 rand
Vodacom Holomisa bantu UDM Vodacom Durban July tickets Unknown

Now Read: Your ISP Should Now Report You for Movie & TV Piracy


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Grindrod Shipping Holdings Ltd. announcement of share buybacks https://bungeni.org/2021/06/03/grindrod-shipping-holdings-ltd-announcement-of-share-buybacks/ Thu, 03 Jun 2021 20:05:00 +0000 https://bungeni.org/2021/06/03/grindrod-shipping-holdings-ltd-announcement-of-share-buybacks/

SINGAPORE, June 03, 2021 (GLOBE NEWSWIRE) – Grindrod Shipping Holdings Ltd. (NASDAQ: GRIN) (JSE: GSH) (“Grindrod Shipping” or “Company” or “it” or “we”), a global provider of shipping services primarily to the dry bulk industry, announced takeovers actions.

Pursuant to the share repurchase authorization previously approved by the Company and granted by the shareholders at the last annual general meeting of May 20, 2021, the Company acquired a combined total of 33,467 common shares on the open market of the NASDAQ and JSE during the period from May 26, 2021 to June 1, 2021. The repurchased shares were acquired at an average price per share over this period of $ 8.46, or ZAR 116.62 based on ” an assumed ZAR / USD exchange rate of 13.79, before fees. The timing and amount of any redemption is at the sole discretion of the Company and depends on legal requirements, market conditions, share price, other uses of capital and other factors. The repurchases of ordinary shares may take place within the framework of over-the-counter and / or open market transactions. The redemption power expires at the next annual general meeting, unless it is renewed, modified or revoked by the shareholders at a general meeting, and can be suspended or terminated by the Company at any time without notice.

About Grindrod Shipping Holdings Ltd.

Grindrod Shipping primarily owns and operates a diverse fleet of long and short term owned and chartered solid bulk shipping vessels. The dry bulk business, which operates under the “Island View Shipping” (“IVS”) brand, comprises a fleet of 15 dry bulk carriers and 16 supramax / ultramax dry bulk carriers. The Company also owns a medium-range tanker on bareboat charter. The company is headquartered in Singapore, with offices in London, Durban, Tokyo, Cape Town and Rotterdam. Grindrod Shipping is listed on the NASDAQ under the ticker “GRIN” and on the JSE under the ticker “GSH”.

Forward-looking statements

Statements in this press release that are not historical facts may be forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe havens for forward-looking statements to encourage companies to provide forward-looking information about their activities. The Company wishes to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and includes this caveat in connection with such safe harbor legislation. The forward-looking statements contained in this press release are based on various assumptions, including, without limitation, management’s review of Grindrod Shipping of historical trends, data contained in company records and others. data available from third parties. Although the Company believes that these assumptions were reasonable when made, as these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond the control of the Company, the Company cannot assure you that it will meet or fulfill these expectations. , beliefs or projections. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those discussed in the forward-looking statements. These risks and uncertainties include, among others, those discussed in public documents filed by Grindrod Shipping with the SEC. Except as required by law, Grindrod Shipping assumes no obligation to publicly update or publish revisions of these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect the occurrence of unforeseen events.

Company details :
Martyn Wade / Stephen Griffiths
CEO / CFO
Grindrod Shipping Holdings Ltd.
200 Cantonment Road, # 03-01 Southpoint
Singapore, 089763
E-mail: ir@grindrodshipping.com
Website: www.grinshipping.com

Investor Relations / Media Contact:
Nicolas Bornozis / Daniela Guerrero
Capital Link, Inc.
230, avenue du Parc, office 1536
New York, New York 10169
Phone. : (212) 661-7566
Fax: (212) 661-7526
E-mail: grindrod@capitallink.com


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Covid Debt – 5 Ways To Hang On To Your Home (Or Let It Go) https://bungeni.org/2021/06/03/covid-debt-5-ways-to-hang-on-to-your-home-or-let-it-go/ Thu, 03 Jun 2021 04:40:10 +0000 https://bungeni.org/2021/06/03/covid-debt-5-ways-to-hang-on-to-your-home-or-let-it-go/

Through Bonny fourie 46 m ago

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Cape Town – The 2020 Covid-19 lockdown still has many homeowners under financial pressure.

Pay cuts and even unemployment are always realities for families, and mortgage repayments are proving difficult.

Some homeowners even face the grim reality of losing their home and considering their options, including turning to their bank for help or selling their property.

And if so, it’s not the end of the world, despite how it feels.

Read the latest Property360 digital magazine below

For homeowners in this predicament, banks and real estate experts are offering the following tips to help them keep their homes or at least keep their title to landlord by moving to a more affordable property.

1. Communicate

Banks want to keep people in their homes and therefore encourage homeowners to contact them when they see they are approaching financial hardship. Absa has proactive measures in place to identify and assist customers who are showing signs of financial distress, whether or not the customer has missed a payment, says Geoff Lee, general manager of home loans, personal and business banking. .

“We offer a variety of support plans for customers in distress, our ultimate goal being for customers to overcome the distressing situation and keep their homes. “

Echoing this, Buyisile Maseko, head of growth at FNB Home Finance, says homeowners should contact their banks or mortgage providers as soon as they realize they are unable to complete the loan. payment of their obligations. “Don’t wait for the bank collection and collection team or department to contact you,” she says.

2. Consider making a new deal

If homeowners find that they are unable to pay off their entire mortgage, Lee says the bank offers a variety of support options for customers who are experiencing short-term financial difficulties. These may include a limited period of lower repayment installments.

“If the distress is long term in nature, we have a dedicated team to help clients sell their property and move into a more affordable home. “

ETFs too, says Maseko, have several options available, especially if homeowners are facing the debt problem before it gets worse. Some initiatives to help troubled mortgage customers include restructuring payments, accepting interest payments only for a certain period of time, or reducing payments over a specific period.

3. Consider selling before it’s too late

If none of the bank’s options work, homeowners with up-to-date accounts could sell their properties privately or with the help of a real estate agent. Banks also have assisted selling programs.

Owners who sell due to financial difficulties should “not wait too late,” says Jill Lloyd of Lew Geffen Sotheby’s International Realty. If their property is sold by the bank at auction, they might not get a good price and will still be responsible for the shortfall.

“It is important not to come to this. Talk to an experienced agent and they will market your home and, if necessary, stay in contact with the bank to prevent them from putting pressure on you… Agents are not going to announce that you are under pressure. They will try to get the best possible price for you.

4. Refinance and Consolidate Debt

If they have owned their properties for a while, the owners could have a lot of equity. It could be as simple as calling a mortgage broker and seeing if they can consolidate your debt, Maseko says.

5. Consider downsizing

Maseko also advises owners of several properties to consider selling one to settle their arrears. If they don’t have that option, they might consider selling their home, renting it out for a while, and then re-entering the real estate market by purchasing a smaller home.


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DoD works to improve financial controls to reduce corruption and fraud https://bungeni.org/2021/06/02/dod-works-to-improve-financial-controls-to-reduce-corruption-and-fraud/ Wed, 02 Jun 2021 10:44:58 +0000 https://bungeni.org/2021/06/02/dod-works-to-improve-financial-controls-to-reduce-corruption-and-fraud/

Qualified audit reports underway for Minister Nosiviwe Mapisa-Nqakula’s (DoD) Defense Ministry have seen one of Parliament’s defense oversight committees hear what is being done to change the auditor’s financial opinion General Tsakani Maluleke on the South African army.

Without going into detail regarding the sums and amounts lost due to irregular and unauthorized spending, the 16-page presentation, presented today to the Defense and Veterans Portfolio Committee by Secretary of Defense Gladys Sonto Kudjoe, provides insight into what those charged with overseeing the financial well-being of DoD think.

This includes informing the Auditor General of the process followed by the finance division of the DoD to confirm the accuracy and completeness of the identification and disclosure of irregular expenses. Monthly meetings with representatives of services and divisions (of the SA National Defense Force) confirm the cases identified in specific environments. In addition, monthly accountability meetings attended by department and division heads “confirm the recording of irregularities”.

The DoD’s internal audit division will help 73 SANDF procurement centers nationwide to “ensure full accounting and recording of irregular expenses”.

Investigations to date into irregularities uncovered by AG staff have been completed and the presentation notes that the DoD “agrees” with the government’s financial watchdog that the asset management and building rental contracts contain. “significant irregularities”. DoD financial experts found no irregularities in a jet fuel contract and disagreed with the GA over the findings of significant irregularities in the supply of fuel to maintain the Gripen and Hawk jet fighters of the SA Air Force (SAAF) in flight.

The DoD accounting officer (Secretary of Defense Gladys Kudjoe) is “in charge,” the presentation notes, of reviewing the recommendations made and advising on the “accusation” of those involved.

With regard to cases of fraud, criminality and corruption, the military police work with the anti-corruption and anti-fraud directorate (DACAF) of the inspector general of the SANDF. Once the investigation is completed, cases are referred to district courts, commercial crime court, or military court for prosecution.

Updating the Defense and Military Veterans Portfolio Committee (PCDMV) on the status of seven irregular spending and unsuccessful and unnecessary spending cases, Kudjoe said two irregular spending investigations were finalized and recommendations were being made. implemented. Three cases are under investigation by the military police and police case numbers have been released in Dequar Road (Pretoria) and Simon’s Town – the cases are currently before the commercial crimes court. There is a case of irregular spending with the SIU (Special Investigations Unit) and the service provider ordered to reimburse R41 million plus interest.

Irregular, unnecessary and unnecessary spending

In March, the PCDMV learned that the DoD was investigating seven cases of unauthorized, unsuccessful, unnecessary and improper spending amounting to Rand 1.5 billion.

One case of irregular spending concerns a PriceWaterhouse Coopers contract to manage assets worth R604 million. In June 2020, a forensic society was appointed to investigate.

The DoD Inspector General (IG) is reviewing a R 239 million lifecycle management contract for the period 2015-2019.

Investigations into asset management contracts worth 447 million rand from 2017 to 2019 are finalized, ratified by principals and due process are being followed, the DoD said in March.

Information and communications technology (ICT) contracts worth R 216.7 million for ICT services and licenses for 2018/19 were reported as the bids were not evaluated according to the criteria stipulated in the tender documentation. The service provider admitted to overcharging the DoD by R41 million and reached an agreement with the SIU to repay the R41 million with an IOU issued.

Progress was reported in March in an investigation into non-compliant spending worth R 105 million in 2018/19.

The DoD was also investigating an incorrect valuation of ship spare parts and storage in Cape Town between 2018 and 2020. The irregular spending in this case amounts to Rand 59 million.

The latest case of irregular spending concerns the underutilization of the Eco Park property, Centurion, over four years (between 2015 and 2019, amounting to Rand 108 million).

For fiscal year 2019/20, irregular spending totaling R 2.836 billion was recorded due to non-compliance with supply chain management processes and underfunding of Employee Compensation Allowance (CoE ).

Of the R 2.836 billion in irregular spending incurred for 2019/20, R 2.609 billion was for expenditure in excess of the CoE allocation. This was due to a reduction imposed by the National Treasury on actual employees serving the DoD, according to the department’s annual report.

The difference of R 230 million incurred is due to contracts awarded through unfair tendering processes in previous years.


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Cape Town businesses fear negative impact of adjusted curfew https://bungeni.org/2021/06/01/cape-town-businesses-fear-negative-impact-of-adjusted-curfew/ Tue, 01 Jun 2021 13:00:17 +0000 https://bungeni.org/2021/06/01/cape-town-businesses-fear-negative-impact-of-adjusted-curfew/

Through Sisonke Mlamla 4h ago

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Cape Town – There are fears that the recently announced curfew could negatively impact the thousands of jobs that depend on the tourism and hospitality sectors in the province.

James Vos, a member of the mayor’s committee on economic opportunities and asset management, said he would communicate urgently with his national counterparts to consider adjusting some of the latest, more stringent Level 2 foreclosure restrictions announced by Sunday by President Cyril Ramaphosa.

Ramaphosa announced that curfew hours would start at 11 p.m. and end at 4 a.m., and non-essential establishments like restaurants, bars and fitness centers would close at 10 p.m.

Vos said, in previous lockdowns he had made similar bespoke bids on behalf of key industries, such as business process outsourcing, apparel and textiles, tourism and hospitality.

“It is through bids like this that call centers have continued to provide essential services to local and international markets to function during the lockdown,” Vos said.

He said if action was needed to mitigate the third wave of Covid-19 and reduce infections, the economy literally couldn’t afford these curfews.

“The loss of trading hours every night has pushed many companies to the brink of collapse, many of them not being able to retain customers, pay their bills or keep staff employed,” he said. -he declares.

Langa Business Forum secretary Vuyiswa Ndzakana said there was not much difference in terms of working hours. It was just or only one hour adjusted from the previous level restriction.

“Until now, small, medium and micro enterprises (SMEs) will thrive, as the affected sectors will be just a few sectors, like taverns, alcohol and maybe food businesses in the evening or beyond 10 p.m., ”Ndzakana said.

Cape Town Chamber of Commerce and Industry chairman Jacques Moolman said the private sector was well prepared, but while the first lockdown was devastating, this time it was a return to level 2, where he was before.

Moolman said lessons had been learned that measures to limit the effect on the market were in place and would soften the shock.

“We all have to wait until the end and continue to adhere to anti-Covid protocols by staff and customers. If we all do this, the effect on businesses and the community should be minimal,” Moolman said.

ANC provincial spokesperson for finance and economic opportunities Nomi Nkondlo said the curfew places time limits on companies that need the extra hours for production or sales, like restaurants.

“We have to note that the experience of the first wave and the second wave should carry us through and help us navigate this third wave much better than when it hit the first time,” Nkondlo said.

She said businesses must have, and should continue to focus on, their safety and preventive measures to limit contamination of their premises and operations, as such things already place undue financial and human burdens on them. companies.

[email protected]

Cape Argus


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Western Cape publishes South Africa’s first annual public procurement disclosure report https://bungeni.org/2021/05/31/western-cape-publishes-south-africas-first-annual-public-procurement-disclosure-report/ Mon, 31 May 2021 19:12:27 +0000 https://bungeni.org/2021/05/31/western-cape-publishes-south-africas-first-annual-public-procurement-disclosure-report/

Through Robin-Lee Francke 6h ago

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CAPE TOWN – The Western Cape government on Monday launched an annual Public Procurement Disclosure Report (PDR), the first of its kind in South Africa.

MEC for Finance and Economic Opportunities David Maynier said in a statement that the published report was for the period March 1, 2020 to March 31, 2021.

The launch took place during the opening of the Provincial Treasury Procurement Client Center in Century City, Cape Town.

The annual PDR is over 2,000 pages long and includes over 6,400 Covid-19 spending transactions since March 1, 2020, as well as for the fiscal year, which runs from April 1, 2020 to March 31, 2021, for the government of Cape Town. Westerner. .

Maynier said that in terms of public procurement, the local government is determined to be the most transparent province in the country.

He said the PDR has confirmed that to date, 0.03 billion rand ($ 147 million) has been incurred for Covid-19-related spending in departments and public entities across the province.

The RDP further revealed that a total of R524 billion (67.32%) of all Covid-19 spending by provincial departments and public entities was spent on small, medium and microenterprises (SMEs), which exceeded the national target of 30%.

A total of 524 billion rand (US $ 110 million), or 63.59%, of all Covid-19 spending was going to suppliers in the province. All Covid-19 spending for B-BBEE suppliers totaled 2.29 billion rand (over 72 million US dollars), or 60.91%.

Maynier said the health ministry had the highest overall spending on Covid-19, totaling over 1 billion rand ($ 72 million), followed by the education department, which totaled more than 431 million. Rand ($ 31 million) and the Ministry of Transport and Public Works, totaling Rand 408 million (US $ 29 million).

Maynier said the local government remains committed to cutting red tape for companies wishing to become Western Cape Government suppliers, hence the opening of the Customer Supply Center.

“The Procurement Client Center offers a range of services to improve the ease of doing business with the government, including providing procurement assistance to provincial ministries, entities, municipalities and suppliers through our service. integrated support, guiding them through the bidding process and registering correctly. based on the National Treasury’s Central Supplier Database (CSD) and Western Cape Supplier Evidence Bank (WCSEB), ”Maynier said.

– African press agency


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This might be your last chance to invest in Section 12J and here’s how https://bungeni.org/2021/05/31/this-might-be-your-last-chance-to-invest-in-section-12j-and-heres-how/ Mon, 31 May 2021 06:00:20 +0000 https://bungeni.org/2021/05/31/this-might-be-your-last-chance-to-invest-in-section-12j-and-heres-how/

The metaphorical train, which officially leaves the station on June 30, will see the end of Section 12J’s sunset clause, marking the successful end of this tax incentive in South Africa.

Fortunately, SARS gave South African taxpayers one last chance to take advantage of this incredible tax exemption by giving them the opportunity to write off up to R2.5 million in taxable income for the 2022 tax year. Want to know more? Flyt Property Investment, a Cape Town-based property development and investment team, reveals everything you need to know.

What is section 12J?

There is no doubt that South Africa has had an uphill battle against unemployment. To help fight the steadily rising unemployment rate, the National Treasury and SARS have sought to inject much-needed funds into small and medium-sized businesses, with the aim of facilitating job creation. In turn, the exemption offers investors the opportunity to benefit from an immediate tax deduction equal to 100% of the amount they have invested. Through the Section 12J initiative, around R10.34 billion has found its way into small businesses, creating between 9,000 and 10,500 jobs, with investors also benefiting from this tax exemption.

For example, assuming you are a paid PAYE employee: If you earn R1 million in a given tax year and invest R1 million in a 12J business in the same tax year, SARS will see your income theoretically drop from R1 million to R0. You will then be entitled to a tax refund on the million R1 they have already paid, + -300,000 Refunds. The more you earn, the more tax you would have paid and the better the incentive, with top taxpayers saving 45% of their investment.

Sprinkle with Flyt Magic

In an effort to solve the 12J property puzzle, the overriding intention of Flyt Property Investment was to enable investors to purchase units in various developments, while enjoying a healthy tax deduction. Simply put, they wanted to create an opportunity for SARS to fund up to 45% of the purchase of the property for the investor, allowing them to receive a huge reduction in the funding required for the investment, with the effect drive for these developers being higher sales rhythms and the ability to make a profit through their core business – real estate development.

Take Flyt

The last few years have been busy for the Flyt team. What started as an exploratory exercise in 2019 to see how they could combine what was historically their ‘bread and butter’ – residential / hotel real estate development – with the SARS Section 12J tax incentive (which was at that time). a newly found revelation) has since evolved into a thriving joint venture with Anuva Investments, one of the first and most trusted Section 12J venture capital firms with a solid track record of seven years.

Since the launch of Flyt Select, Partnership and Hospitality Funds in early 2020, under unprecedented conditions for the real estate market, Flyt has launched a bridge financing activity, sold the four developments they have brought to the market (around 295 units) and established relationships with some 400 new individual investors, saving them over R200 million in taxes.

As proud as Flyt is of the progress they have made to date, very little would have been possible without what Anuva Investments CEO (Neill Hobbs) describes as “hands down the best tax cut opportunity imaginable. “.

What happened first? The chicken or the egg?

Still with us? If you’ve followed through and are able to understand the logic behind using SARS to fund your real estate investment, what’s stopping you?

There is one big hurdle you may need to overcome: money. Before you can use your tax to invest in real estate, you must first invest your taxable income of one million Rand in cash by the deadline, which will allow you to claim your tax refund deduction of 300,000 rand. Unfortunately, not everyone has this amount of money lying around.

Add Flyt 12J (Pty) Ltd to your investment arsenal. Registered credit provider and subsidiary of Flyt Property Investment, Flyt 12J provides investors with bridging loans to invest in the 12J company, helping them to facilitate their tax deductions before the June 30, 2021 deadline and address the need for have the money. in the front. Once the investor receives the SARS tax refund, these funds, along with the home loan, are used to purchase the unit – a game-changer!

So what’s the catch?

  • Property cannot be inhabited by investors for the first 5 years
  • The property must be furnished * and managed on a short-term basis

Fortunately, all Flyt units come fully furnished and offer an on-site operator in all of their developments.

You can’t get a home loan, so find a partner.

A good number of taxpayers, although in the highest tax bracket, have been reluctant or unable to obtain a home loan on their own due to various commitments. This conundrum gave birth to the concept of what is now the full-fledged Flyt Partnership Fund, R150 mil strong.

The principle of the partnership fund is simple:

  • You, the investor, bring 35% of the investment to the table
  • Flyt brings the balance (65%) in the form of a long-term loan (Flyt acts as bank)
  • You benefit from 100% tax deduction (up to 45% reimbursement in reimbursement)
  • The total 100% is intended for the purchase of properties managed in the fund
  • Flyt and the investor share the profits from the sale of the property in five years.

The net effect is that investors simply bring their tax to the table as a contribution, a tax they would normally never have access to. and use to invest alongside Flyt as an aligned partner in quality real estate investments. You don’t have your 35% upfront? Don’t worry, you can borrow it from Flyt and pay it off on your tax refund.

So kill the suspense, what’s on offer?

Upper East Side

Direct ownership in the Upper East Side, a mixed-use neighborhood on Brickfield Road, Salt River, is now available to real estate investors. 183 sectional studio and one-bedroom title units are available through the Flyt Select Fund, from R734,000 to R3,534,000.

Guaranteed income

Investors will also appreciate a guaranteed return of 7.5% over five years (after all costs). The first three years are supported by a master lease with Spear Reit Limited, years 4 and 5 are guaranteed by Anuva Investments. The units will continue to be fully managed by Multi Rooms Management. Owners will also benefit from seven days of personal use of their accommodation with up to 30% off accommodation rates throughout the year.

One Thibault, the highest residential development in Cape Town

This internationally award-winning modernist masterpiece dares to stand out, rising diagonally across the city skyline, opening up new vistas of the harbor to the east and Table Mountain to the west.

Flyt Property Investment presents the unique opportunity to invest in One Thibault via the Flyt Select Fund, offering bespoke luxury apartments ranging from the 15th to the 20th floor, from 895,000 R.

Serviced apartments

The 180 serviced apartments are fully managed by an on-site team, Wink Aparthotels. Investors have access to a multitude of benefits, including:

  • Furnished apartments at no additional cost
  • Quality tenants who “tick all the boxes”
  • Lower financial risk
  • Higher returns with the managed apartment solution
  • No administrator

Guaranteed income

1st 6% year-round rental guarantee

The Admiral Beach Hotel and Apartments – Struisbaai

Invest in the southernmost tip of the African continent, where the Atlantic and Indian Oceans meet. As a desirable location, few destinations are more spectacular than the Overberg region, including Struisbaai and Cape Agulhas, being the southernmost tip of Africa and home to the Admiral Beach Project.

The apartments will consist of 1, 2 and 3 bedroom units, with direct access to the beach. Investment in The Admiral will be available to investors through the Flyt Select Fund.

Flyt Partnership 2022

As an extension of their huge success, SOLD OUT Flyt Partnership Fund, they are launching the Flyt Partnership 2022 Fund. This new property investment fund aims not to miss the final Section 12J opportunity by allowing you to bank your 2022 income or corporation tax in our Section 12J fund and wait behind the scenes for the next exceptional real estate investment from Flyt to become available. However, here are a few things to remember:

  • Subscriptions to be capped at R300 million

A 5% deposit guarantees a tax deduction of R1 million.

About Flyt Property Investment

Flyt Property Investment is a Cape Town-based property development and investment team committed to finding opportunities that challenge the status quo. They work in the public domain on spaces that have the potential to make a difference. They never fear complex problems and believe in finding solutions from within, opening up opportunities through innovation, taking a different angle, thinking intelligently and sideways.

Flyt buy, develop and add value to the property through joint ventures and independent projects. They maximize return by performing rigorous project evaluations up front, co-investing in the work they believe in, and tightly managing their business. They currently have five projects going on and their pipeline is very exciting. They stuck to their recipe for creating wealth for their shareholders, while contributing positively to the built environment and progressive landscape of Cape Town.

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Planet Earth Bill of Rights https://bungeni.org/2021/05/29/planet-earth-bill-of-rights/ Sat, 29 May 2021 22:55:47 +0000 https://bungeni.org/2021/05/29/planet-earth-bill-of-rights/

Have you ever listened to Imagine by John Lennon or The Man in the Mirror by Michael Jackson or Love is England’s Answer Dan and John Ford-Coley or What Happens by Marvin Gaye. Nice Tunes isn’t it? Bad brother. These are direct calls for all of us, 7 billion of us, to change our behavior.

We all know how to behave, to be kind, to be patient, to forgive and to forget. Love yourself and do the same for others. Respect everyone, be reliable on time and don’t waste things. Use common sense (your 6e meaning).

It all makes sense, yes? Now, look around you, brother – among the seven billion of us is those that don’t keep ourselves or these basics. For 3,000 years, they have been fucking us and our ancestors. What are you doing about it? You hope for change. Well, things don’t work that way. You have to pray for the change and be explicit enough about what you want.

You must also unionize and organize peacefully. We have all the real power – they’ve stolen a nearly 3,000-year lease that’s about to expire. To take these guys we have to think like them (think Shaka Zulu), they use 5 year planning and leverage and most importantly, the creation of false hope.

We use many general and statistical terms below. Don’t worry about the details – the little details need to be worked out. Come back to reality. We only have one chance at this. We all know love is the answer and will set us free. Do this for your own happiness, not ours. In Cape Town, we’re all pretty good.

the Planet Earth Bill of Rights
Cape Town, April 2nd, 2021. Day of the resurrection

We the workers of the world, being sane and good-hearted, declare the following:

1. 4th Julye, 2021 – Independence day of planet Earth. The five-year plan starts here.

We no longer accept the yoke of oppression imposed on us by the rich, the powerful and the greedy. There is a glass ceiling to our growth and its 4 feet high. We are stars, we are golden – but we are cast in mud. We respectfully request that we return to the Garden of Eden.

2. All federal governments and defense spending around the world to be dismantled as of July 4e and replaced by around 1000 regional administrations. Politics and religion are not necessary but will be tolerated.

Tribal traditions and tribal lands must be respected – lands must be returned. If you don’t have a tribe in your area, you might consider organizing one.

This system of 1000 administrators is for their common wealth. Its first leader would probably have to be someone trained to lead a Commonwealth of Nations. He will have nothing more to do than manage a few tourist attractions for the city of London.

3. All armies and intelligence forces will withdraw and form the backbone of regional police forces – merged with existing police. All unemployed veterinarians must report for work to their regional police department. Unarmed Beat Cops must return to the planet, immediately, everywhere.

4. We suggest a global council based in northern Chad with global institutions. One currency, one world trade zone, one court. The point of all of this is to maximize the potential of every human being on this planet. It goes without saying that the natural environment will be respected immediately. Sorry oil companies.

5. Hotel California – if you are not nice you will be sent to the island of Hotel California in the Siberian tundra – possibly on another planet. Everything possible will be provided to you. However, you can never leave. Medications like mine might also help.

6. We apologize for any inconvenience this may cause you and your family, but if you don’t like it, Hotel California might be the place for you.

7. Existing federal buildings, churches and mosques should be used to house the homeless.

8. Anyone in the world, who earns over $ 200,000 a year, will receive a 30% pay cut and this will fund a pay rise for the working class.

We will employ a team of mathematicians and nuclear scientists to solve this problem. Weapons of any kind anywhere on this planet will not be needed. Ultimately, the World Council will establish temporary maximum and minimum wage policies. As the potential of the planet is released, this may no longer be necessary.

9. The right to party. All 7 billion of us have the right to party – not just the privileged few. When everyone has what they need to party, the world will be a better place. In addition, the right to sanitary public toilets becomes another use of the old federal buildings.

In our future health workers and first responders of all types will be the most paid professions. Brokers will go from talking crap to cleaning crap in order to maintain their lifestyle.

ten. Consequences – if these requirements are not met then we are asking the entire planet to get rid of the tools and stop spending on July 4 of this year and beyond. Each stock market will collapse within a week, followed by house prices. Being nice would be a much easier and more acceptable solution.

11. There is no number 11.

12. We respectfully suggest that the US and Chinese governments and the European Union work on this by the end of June 2021. We recognize that change is difficult to accept and implement. We will all follow this agreement with our suggestions to help the planet heal itself. However, we need to get there by Christmas 2025.

God has been patient, but we even try his patience. The Bill of Rights is a document for all that will be based on the Internet. It will be open to modifications and / or additions, which will be governed by moderators.

13. 2021 could be 2000 years since the death of Christ. In 9 years, the probability reaches almost 90%. We have war and plague. In a few weeks, sleeping Joe will announce what he knows about UFOs.

I bet Donald Trump doesn’t even know what it is. God comes my friends and he is not happy with our behavior and especially the wars we fight on his behalf. We should all be afraid. However, some should be very scared.

Preface

So who am I and why am I doing this. Born in UK, I am a dual national of UK and US. My dad was effectively robbed of his dignity by the Conservative Party, and my mom had rheumatoid arthritis and was experimented with by drug companies for most of her life. I’m a child of the Direct Grant Grammar School system in the UK – abolished by politicians on both sides who couldn’t win a fight with Conker if their lives depended on it.

If you go to Kloof Street in Cape Town they call me Robin Hood and for good reason. In June 2020, during a period of Hypo Mania, I think God spoke to me during a visit to Pine Hill NY. I was at the Colonial Inn.

A few weeks later, at the Kingston Dutch Church in New York City, an old tramp suddenly asked me if I had ever listened to MJ’s “the man in the mirror”. After a short and horrific stay at Mount Sinai West Mental Health Facility (please fund these places properly, Mr Cuomo), I was baptized as a born again Christian in Bristol, UK. I gave up on that when they slandered the Holy Quran.

I always try to understand and find solutions for the world around me. I’ve heard that if everyone on the planet jumps at the same time, the mountains could move. The bill borrows this basic concept but pushes it to do nothing. My own personal part. My personal ambition in all of this is to become governor or comptroller of upstate New York. Based around the Catskill Mountains and Kingston, the historic capital of New York State, this is a truly wonderful place. Like all corrupt politicians around the world, Cuomo bled this place dry to amass political voters in New York City.

I don’t know what will happen when the Indians take over Manhattan. I imagine all the yuppies will leave. I think it would be a good plan for Indians to lease a large part of New York to citizens of Israel residing on genuine Palestinian lands. They could renovate and rename this area New Jerusalem and the Mossad could sort out the Mexican cartels with the New York police. I’m knocking on God’s door to make all of this happen.

Like the inhabitants of the planet, I have also made a mess. Including relationships with six wonderful women. God gave me a chance with a seventh I hope I’m fine this time. During my illness in 2020, many of my friends and family avoided me for my franchise. Maybe if I do something really right they’ll forgive me… and maybe not.

Robin Hood. In the forest. Catch Me If You Can!

Posted on May 29, 2021


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Eskom leads purchasing director Solly Tshitangano after hearing https://bungeni.org/2021/05/28/eskom-leads-purchasing-director-solly-tshitangano-after-hearing/ Fri, 28 May 2021 18:33:45 +0000 https://bungeni.org/2021/05/28/eskom-leads-purchasing-director-solly-tshitangano-after-hearing/

Through IOL reporter 42 min ago

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Cape Town – Eskom fired its purchasing manager (CPO), Solly Tshitangano, with immediate effect following a guilty verdict in his disciplinary process.

The electricity utility said in a statement on Friday that it had been charged with serious misconduct, breach of obligations and non-performance. He was suspended in February for failing to submit key strategic and regulatory documents on time, abusive or insolent behavior to his boss, and failing to report irregularities as soon as he became aware of them.

Tshitangano, who had failed to bypass Eskom’s purchasing division, chose not to testify in his own defense. Eskom had relied on the testimony of two witnesses and the forensic findings of the Bowmans law firm.

Its legal representatives had the opportunity to cross-examine Eskom’s witnesses. Although his legal team argued that Tshitangano was a victim of whistleblowing, the chairman of the disciplinary committee dismissed this, saying it was an attempt to distract from Tshitangano’s conduct.

The president ruled there was no choice but to fire Tshitangano, who accused Eskom CEO André de Ruyter of “racist manipulation of black officials and black suppliers who were continually harassed” .

“The president dismissed the defense on the basis of a protected disclosure, saying it was more of an attempt by the CPO to distract from his conduct.

“He declared Mr. Tshitangano guilty of five counts: serious misconduct for having failed in his duties, violating the law on the management of public finances and for having violated the disciplinary code of Eskom in what he disclosed confidential information to third parties, ”Eskom said.

Tshitangano was also accused of not disclosing his relationship with the utility provider. News24 reported after investigations that Tshitangano supported and awarded more than R8 billion in contracts to Econ Oil in 2019 despite evidence of irregularity and possible corruption involving Econ and Eskom officials at his disposal.

“The presiding judge, an independent lawyer, decided he would give the CPO an opportunity to respond to additional misconduct charges relating to Econ Oil’s relationship with Eskom and the CPO’s apparent support of the lawsuit. of that relationship after he joined Eskom in early 2019, before deciding on the protected disclosure request, ” Eskom said.

In 2005, Tshitangano faced a disciplinary hearing for 11 counts of misconduct while he was chief director of the provincial treasury in Mpumalanga. He was then transferred to the Prime Minister’s office.

Tshitangano was later appointed senior director of the finance section of the Limpopo Basic Education Department. He acted as the department’s chief financial officer in 2011 when he blew the lid on alleged corruption in a multimillion rand tender to provide the department with support materials for learners and teachers.

The contract was eventually canceled and the department failed to provide notebooks, textbooks and workbooks to hundreds of Limpopo students.

IOL




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