Section 38 of the Companies Act, 61 of 1973 (now repealed) contained a prohibition against companies issuing shares to prospective shareholders on loan account. This was identified as one of the hurdles in the way of BEE empowerment deals specifically (which quite often involves BEE participants requiring funding to be able to subscribe for shares […]
Appointing a financial manager: Do you know what to look for?
Ideally the candidate to appoint as financial manager must be qualified for the post in terms of sufficient knowledge and relevant experience. There is, however, a third consideration which are often overlooked or not considered to be of the same importance as knowledge and experience, and that is soft skills. The rest of this article […]