Bowmans (Law Firm)

EVENT | Yesterday (12 March 2025), saw the conclusion of the 2025 Southern African Venture Capital & Private Equity Association (SAVCA) #PrivateEquity Conference. Dr. Adrian Saville opened #SAVCAPECon2025 by saying that in driving #economicgrowth, context is critical. If you only focus on the things that are inside the room and miss what is going on outside, you will miss the big picture. The same can be said with the experience and success of the #SAVCA2025 conference. Delegates were enriched by both the curated presentations and discussions in the sessions, as much as the rich contacts and conversations outside the space. The theme, #ElevatewithIntent, was infused in all aspects of the conference with #ESG, collaboration, impact-driven inclusive investment underpinning many of the conversations. The message was loud and clear: we all need to get into the ring with agility and the intention to unlock the many opportunities for African #PrivateEquity players in #impactinvesting. The Bowmans team - comprising partners from our #PE, #Funds, #MergersandAcquisitions and #Tax practices - was on the ground catching up with existing clients and establishing new networks through enriching conversation with new colleagues and potential clients. Congratulations to the SAVCA team for hosting yet another successful, world-class conference! More on our #PrivateEquity Practice here: https://lnkd.in/dUJSzjzj

IN THE NEWS | Transnet National Ports Authority has issued a request for proposals (RFP) for the appointment of a multipurpose dry bulk terminal operator in the Maydon Wharf Precinct at the Port of Durban. #Ports, Rail and Logistics senior consultant, Andrew Pike, joins CapeTalk's John Maytham, to discuss Transnet’s bold move for #tradeexpansion. Andrew notes that this #RFP demonstrates Government's commitment to inviting private sector participation in #infrastructure projects. He adds that private sector participation will assist the Authority overcome some of its hurdles, for example its cash-flow challenges and service delivery issues. Listen to the full conversation here: https://lnkd.in/d2dUbhkw

#BUDGETSPEECH | Finance Minister, Enoch Godongwana, delivered the 2025 South African National Budget Speech in Parliament earlier today (12 March) although it is yet to be approved by Parliament.   The Minister remains committed to raising additional revenue, ZAR 28 billion in 2025/26 and ZAR 14.5 billion in 2026/27, sourced primarily from personal income tax and excise duties.  The Budget introduces a VAT increase of 0.5% effective from 1 May 2025 as a measure to increase revenue and promote fiscal sustainability. A second 0.5% increase has also been proposed for the 2026/2027 fiscal year, to take effect on 1 April 2026, subject to the outcome of Government’s cost-saving initiatives. This is a revision of the original proposal relating to the VAT increase and the coming into effect of the increased VAT rate. The intention was to increase VAT by 2% with effect from 1 April 2025. To cushion low-income households from the impact of the VAT rate increase, the list of zero-rated basic foodstuffs is to expand with effect from 1 May 2025. Our #tax team has compiled this comprehensive Budget Brief.

#BUDGETSPEECH | Earlier today (12 March 2025), the Finance Minister, Enoch Godongwana, delivered the 2025 South African National Budget Speech in Parliament. The most significant change is the contentious increase in the #VAT rate from 15% to 15.5% with effect from 1 May 2025 (and up to 16% in 2026). Save for above-inflationary increases to #exciseduties on alcohol and tobacco products, the remaining #tax rates will stay unchanged. The bulk of increased tax revenues will be sourced from individuals (by not adjusting #PersonalIncomeTax brackets, #rebates and #MedicalTax credits). There is some relief in the form of diesel refunds for primary sectors and an expanded list of #zerorated foods intended to provide relief to lower-income households. A summary of the highlights follows below. Look out for our comprehensive Budget Brief coming soon. 

NEWSFLASH | Starting 14 April 2025, the Johannesburg High Court will be piloting a dedicated #insolvency court. The long-anticipated Insolvency Motion Court has been designed to operate on a four-week cycle between application for a hearing date and hearing of a matter, with the intention of minimising the need for parties to approach court on an urgent basis. The first sitting of the Insolvency Motion Court will be in the week commencing 12 May 2025. The urgent motion court, will no longer entertain insolvency-related urgent applications (except during recess), ensuring that these cases are also heard in the dedicated insolvency court. Bianca Masterton and Nseula Chilikhuma provide further detail below.

EVENT | We are a proud sponsor of the 2nd Annual Nairobi Arbitration Week set to take place on 17 - 21 March 2025. Set against the backdrop that is the city of Nairobi - a rising hub for #InternationalArbitration - this year's gathering will bring together a variety of local and global key industry players with the intention of addressing the dynamic interplay between #arbitration and #SustainableDevelopment in today’s climate. Our #NAW2025 delegation - who have with the ability to expertly assist clients navigate arbitration and international arbitration landscape in the region and its relation to #technology - will host an array of panel discussions at conference on cutting-edge topics that are shaping the future of field. Look out for our team of Mabvuto Sakala, Terry Mwango, FCIArb, Alfred Deya, Ariana Issaias, Cecil Kuyo, Clement Mkiva, Jonathan Barnes, Kate Beretta, Brian Mambosho and Effie Omondi at this Nairobi Centre for International Arbitration (NCIA) event. When: 18 March 2025, 08:30 - 16:00 EAT Where: Day 2 of #NAW2025 - Hyatt Regency Nairobi, Kenya Learn more here: https://lnkd.in/ejDYCR4W

SHORTLIST | The 2025 #ManagingIPAwards shortlist has been published. These awards - considered one of the largest #IntellectualProperty celebrations globally - recognise remarkable #IP achievements and developments over the past year. We are delighted to share that we have been shortlisted for three awards: - Firm of the Year: Kenya - Practitioner of the Year: Daniel Mwathe - Rising Star of the Year: Richard Odongo We are looking forward to the Managing IP Awards ceremony to be held on 10 April 2025 in London, United Kingdom. The full shortlist is available here: https://lnkd.in/ezas8_EU

NEWSFLASH | With effect from 1 April 2025, the earnings threshold will be increased to ZAR 261 748.45 per annum (the equivalent of ZAR 21 812.37 per month). ‘Earnings’, in this context, means an employee’s regular annual remuneration before the deduction of any income tax, employee benefit scheme contributions and similar payments, but excludes benefit contributions made by employers, subsistence and transport allowances, achievement awards and payments for overtime worked. The annual earnings threshold determines the application of certain provisions of the Basic Conditions of Employment Act, the Labour Relations Act, and the Employment Equity Act. #EmploymentandBenefits partner, Nadine Mather, and #KnowledgeandLearning lawyer, Chloё Loubser, encourage employers to carefully consider their current workforces and engagements with labour brokers (if any) with reference to employees’ earnings, to ensure compliance with these provisions. Read more here: https://lnkd.in/dxYVPfSx

EVENT | The role of #insolvency and #restructuring professionals has never been more essential: global economic landscape continues to be marked by uncertainty caused by factors such as disrupted supply chains, persistent geopolitical tensions, high inflation, limited consumer purchasing power and restrictive monetary policies. As such, many businesses across various industries are facing difficult decisions. We are looking forward to #INSOLHongKong, a gathering of the world’s insolvency and restructuring professionals - hosted by INSOL International - aimed at unpacking the significant issues of our day. Look out for our #BusinessRescue team of Kgosi Nkaiseng, Roxanne Webster and Nseula Chilikhuma on the ground. When: 17 - 19 March 2025 Where: Hong Kong More here: https://lnkd.in/dF6d2qtg

IN THE NEWS | Much of the debate surrounding the topical National Health Insurance (#NHI) Act stems from the Act leaving too much open to interpretation. In this article for Citywire, partner, David Geral says 'We should slow down to speed up. We should celebrate the renewed vigour with which the government is approaching its obligations under the National Health Act. We should embrace necessary dialogue to find a sophisticated, sustainable solution for enhanced universal healthcare.' He adds 'That way, by this time next year, we may have significantly improved health infrastructure and a workable, amended NHI Act, bolstered by renewed public/private collaboration towards #universalhealthcare.' Read the complete article here: https://lnkd.in/dvrcPJRy