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Wealthy South Africans and Their Trusts

Fri, 18 May 2012

The South African Revenue Service has around 2300 wealthy individuals on its register. Members of this group contribute around R1.7 million each in tax annually, but some use trust funds to channel and hide their assets and incomes.

SARS has identified trust funds as one of their key focus points in its compliance programme this year. Joining ABN's David Williams for more is Marteen Michau, Head of fiduciary & tax at Sanlam Private Investments.

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ABN Business Briefs

Johannesburg, (ABN)

Fri, 18 May 2012

South Africa's Finance Minister Pravin Gordhan said in parliament on Friday that the country's economic expansion remains weak and uneven while inflation pressures are subdued for now. "Growth and output in our economy is uneven and slow, but consumption spending remains buoyant although last month was not that good," Gordhan said during his budget vote speech to the legislature.
...Read more

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CPN - Capricorn Investment Holdings Limited - Conclusion of the acquisition

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Fri, 18 May 2012

AEG - Aveng Limited - Appointment of an executive director

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Fri, 18 May 2012

LNF- London Finance & Investment Group P.L.C.- Interim Management Statement

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GEN - General - The Lion Match Company (Proprietary) Limited -

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Quick vote

The IMF's latest Regional Economic Outlook has cut 2012 growth for sub-Saharan Africa from its previous forecast due to global financial distress and a sluggish recovery in South Africa. However, with growth forecast at 5.4%, it’s still better than the world average. With African economies sustaining their good progress, should South Africa reduce its exposure to Western economies?

Faces of Cnbc Africa

Featured shows on CNBC Africa

	Yes, the East is the future and South Africa will do well to reposition itself.

	No, it's a matter of time before Western economies turn around and South Africa will again benefit from that traditional relationship.