Wealth Advisory Newsletter

South Africa’s hidden R750 billion economy attracting JSE-listed companies 

South Africa’s informal economy has grown significantly, attracting JSE-listed companies looking for new revenue streams. Property companies like Vukile and retail giants such as Shoprite benefit from the informal sector’s growth, reports Daily Investor. 

Private businesses pulling billions out of South Africa 

According to a report from Trade & Industrial Policy Strategies (TIPS), an economic research institution, there is a 1.8% decrease in investment during the first quarter of 2024, with the sharpest fall occurring in private investment – meaning billions of rands pulled out of the country, reports BusinessTech. 

Investors in Livestock Wealth face delay as FSCA reviews investment model 

More than 3 000 investors in Livestock Wealth, a crowd-farming venture, are waiting for the Financial Sector Conduct Authority (FSCA) to review and possibly approve its investment model. The FSCA’s decision is expected by the end of June, reports Moneyweb. 

R461 million a day for South Africa’s richest people since January 

According to Forbes’s real-time tracking of billionaires, the country’s six richest businessmen have gained $4.6 billion (R83 billion) or R461 million a day in wealth, since January. However, this is a drop in the ocean, as their current collective net worth is estimated to be $29.9 billion (R541.7 billion), reports BusinessTech. 

Western Cape tourism booms, visitors up 17% at key attractions 

The Western Cape tourism industry continues its upward trend, with a 17% increase in visitors to 53 key attractions across the province between January and April 2024 compared to the same period in 2023 reports BizCommunity.