In September, PricewaterhouseCoopers will present its Vision to Reality awards to South Africa's most innovative and dynamic tech companies. Tom Blok, a partner in PwC's advisory division, says Cape Town's startup community has shown remarkable talent and innovation.
Vunani Property Investment Fund, a company listed on South Africa's Johannesburg stock exchange, has received REIT status by the JSE Limited. The company's portfolio consists of class A office buildings.
South Africa's new REIT regime and the growing interest in the continent by sovereign wealth funds should lead to more investment in Africa's hotels. REIT legislation in other countries should also inspire investment, participants at the Hotel Investment Conference Africa said.
South Africa's stock exchange, the JSE, may be home to 30 REITs by this time next year, according to Estienne de Klerk, chairman of the SA REIT Association committee. The first REITs will debut on the exchange next month.
Global corporations are worried that the conflict between U.S. and Chinese audit authorities will have far-reaching ramifications. U.S. companies with operations in China may find it difficult to produce audited accounts if the Securities and Exchange Commission bans the Chinese affiliates of five of the world's biggest auditing firms from working on accounts of companies listed in the U.S.