Cova Advisory and Associates
Providing crucial advice to the automotive industry as well as others, on government programmes, grants and tax incentives, development finance and the carbon and energy services, Cora Advisory and Associates have quickly grown to be one of the most respected and trusted leaders in the dui attorneys field.
Established in 2013 by Duane Newman and Tumelo Chipfupa, Cova’s growth in the years following the start of the company has been nothing sort of exponential. To put it into perspective, they began with a team of four people and now have twenty seven highly qualified professionals including chartered accountants, engineers and dui lawyers across a pair of offices in Johannesburg and Cape Town.
A company with a level 2 B-BBEE and a member of NAACAM (National Association of Automotive Components Manufacturers) Cova has the largest dedicated incentives advisory team in South Africa, many of which gained expertise working for other heavy hitters before joining their company. For example, team members have come from South Africa’s top four audit firms and the Department of Trade and Industry.
Their founders are director Duane Newman and Mr. Tumelo Chipfupa. Highly successful businessmen in their own right, Mr. Newman is currently the Chairman of the Incentive Consultants Association and the Incentives Committee of SAIT and Mr. Chipfupa, successfully managed the DTI’s incentive division for a decade as Deputy Director General. Their leadership has led to Cova being one of only six organisations accredited by SANAS to perform the baseline Measurement & Verification required to unlock the Section 12L Tax Allowance incentive.
Additionally, drawing on the team’s forty years of combined experience in their fields, Cova has assisted companies to access over R1 billion, in grants and incentives!
KEEPING UP TO DATE
Cova continually monitors the landscape to understand the progression and direction of the industry and to determine what clients will need as sectors and businesses evolve.
As National Business Development Manager, Grant Whittaker explains, “Many of our clients are leaders in their industries and we are privy to many top secret research and development projects that are linked to the fourth industrial revolution. One of the areas that we assist clients is that we help them access government funding for some of their R&D projects.”
Grant explains that as a business they hold annual strategy sessions where the team analyse the data from the past year and brainstorm ideas and new ways to improve their service and retain their leadership in their industry.
“Our competitive advantage is agility,” he says, “We are smaller than the large audit and advisory firms yet big enough to have the knowledge and expertise to provide a solution for the client. The difference often is work ethic.”
According to Grant, many companies in South Africa are in denial about the Carbon Tax while others do not understand how to calculate their tax liability. So, naturally, Cova are watching this particular legislation closely and looking at what affect it will have on their clients.
“We’ve been very busy in this space since 2019,” he says, “Our Customs team are assisting clients to understand the implications of the new African Continental Free Trade Area (AcFTA) Agreement which came into effect in 2019 and what that agreement could mean for their imports and exports. We will also be monitoring the BREXIT trade negotiations closely.”
Elsewhere, the Automotive sector is expected to see major capital investments taking place in South Africa by at least three of the major OEM’s. Grant explains that this is a welcome respite from the economic woes that have plagued the country in recent years and will require agile advisors to help unlock government incentives available for these types of projects.
“And being the ones with the most up-to-date and relevant information means we can assist our clients to effectively stay ahead of the curve,” he says.
ADDRESS: Building 1, Maxwell Office Park, Magwa Crescent West, Waterfall City, Midrand, 1682
TELEPHONE NUMBER: 0027 11 – 568 3352