14 MEA MARKETS / Q2 2021 , Dec20081 The world of finance is incredibly specialised, and there is a clear need to turn to an expert when looking for the perfect solution. We take a look at the team fromGrovest Corporate Advisory Proprietary Limited, a pioneer of investment opportunities. InMEAMarkets’ MEA Business Awards 2020, the firmwas named one of the Leading Innovators in Section 12J Investments - South Africa. We take a closer look to see what this innovation has brought to the industry. Ingenious Innovators Secure Success Section 12J investments have had an enormous impact on businesses in South Africa. The scheme was designed to give South Africans a tax rebate if their investments were made through an approved venture-capital company. By encouraging investments in small businesses and riskier ventures, it would be easier to create jobs and economic growth. Of course, it’s not easy choosing what to invest in, and no one knows the industry better than an expert. The boutique finance house of Grovest Corporate Advisory specialises in this field, with a pioneering spirit that not only matches the spirit of the law, but has driven new levels of remarkable success since the doors first opened in 2013. For those who want to set up and administer a Private Equity fund; and prior to the sunset, a Section 12J VCC; there’s an incredible amount of legislative and bureaucratic hassle, but those who turn to Grovest Corporate Advisory find a team who know exactly what to do. This allows a budding entrepreneur to focus in on what they do best. The team at Grovest Corporate Advisory are experts in the field, and demand high standards of themselves at all times. For those individuals who want fast-paced, hands-on career growth and mentoring, this is the right place to be. For clients, there is an environment of rapid opportunity and development that ensures great results for all sides. At the heart of the team is not an approach which is stale and boring, but one which explores every possibility. Grovest Corporate Advisory thrives on pioneering new ways of working that lead to exciting new levels of success. The team has a long track record of firsts, including being the first operational Section 12J VCC in South Africa, first company to offer industry specific Section 12J VCCs, first woman-led Section 12J VCC and first VCC with guaranteed minimum yield for 5 years. These incredible achievements are at the beating heart of what Grovest Corporate Advisory has to offer clients, as they lead the way forward for the industry. While the team has achieved some incredible things, the 12J tax incentive was discontinued on 30 June 2021 as result of the Sunset Clause. Section 12J has had the incredible impact it was meant to have, and it’s unfortunate that the South African Government did not realise its full potential. The Grovest team will be adjusting their focus appropriately, focusing on administration and support for private equity funds, specifically emerging first time black Fund Managers, in South Africa. When working with the team at Grovest Corporate Advisory, it’s clear that they are more than just ideas people or executors. They bring the best of both worlds to the table, identifying exciting new opportunities and offering clients the advice that is necessary to bring them unprecedented success. Over the years, the team have proven themselves serial entrepreneurs, building up an impressive reputation and an astonishing network of like-minded people. While their core focus will be changing, it’s clear the skills that the team have developed will be in high demand for years to come. Grovest acknowledges their continued responsibility in administering the investors’ money into the 12J funds and will stay the journey with their clients. Although investments into 12J have come to an end, so much still lies ahead! Stay tuned for what’s on the horizon for alternative investments. Company: Grovest Corporate Advisory Name: Sthembiso Zwane Email: [email protected] Web Address: www.grovest.co.za
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