It’s what you might describe as a bad day: opening a message from your lawyer and discovering that not only isn’t your tax all sorted as you’d thought, but that your bill may actually be as much as R900m.
Yet on February 7, this is what happened to South Africa’s third-largest investment firm, which manages R602bn on behalf of thousands of clients — many of them pensioners — and does business under the motto “trust is earned”...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.
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Kieswetter hooks Coronation: Why this matters for business in SAOn February 7, the Supreme Court of Appeal handed down a surprise ruling that forced South Africa’s third-largest investment manager to scrap its half-year dividend, and sent shivers down the spines of all other companies with offshore operations. What are the odds Coronation can get this overturned at the Constitutional Court?
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