Joint Ventures

i-Cubed Capital (Pty) Ltd and Nexia SAB&T (one of the largest black owned accounting, auditing and consulting firms in South Africa) have launched a venture capital fund (VCC) and expect to raise R100m. The monies are to be invested in growth companies. In terms of S12J of the Income Tax Act, a tax deduction of up to 45% can be claimed when individuals, companies or trusts invest through a VCC.