“I don’t know why what was reported was reported. Kokkie Kooyman explains the reason for financial shares falling by an average of 7% on the JSE today - and why Capitec has been singled out for such a bludgeoning. The billions blown by Steinhoff’s former chairman Christo Wiese tends to have that kind of impact. Capitec, the South African bank twice rated the world’s best in the annual rankings by London-based Lafferty Group, was the biggest casualty on a wipeout day for financial shares.The stock’s share price … Both sold as Capitec shares hit a record price of R1,000. a division of Blue Sky Publications Ltd. The South African Wikipedia © 2020 BizNews, Inc. | The Rational PerspectiveTerms & ConditionsComments Policy, © 2020 BizNews, Inc. | The Rational Perspective. Capitec’s share price … TheSouthAfrican.com is all about South Africa and the stories that affect South Africans, wherever they are in the world. Viceroy is an American operated company which stands to exploit profits through strategic investments and independent investigations. Kuben Naidoo, SARB’s deputy governor and registrar of banks, has denied allegations pertaining to a probe of the bank’s loan schemes. No tears from them, however. A report released by Bloomberg on Tuesday alleged that the SARB had approached the NCR with a request to investigate the bank’s loan-origination fees. Late last month, the consumer watchdog, Summit, reached an agreement with the bank following a court battle regarding the bank’s now-defunct multi-loan scheme. 1st Floor, Block B, North Park, Black River Park, 2 Fir Street, Observatory, Cape Town, 7925, South Africa The report accused Capitec of over-indebting customers. The informant, a person familiar with the matter, has not been identified, and the statements remain unconfirmed. Following earlier allegations of new inquiries into Capitec, undertaken by the South African Reserve Bank (SARB) and the National Credit Regulator (NCR), the SARB deputy governor has spoken out in an effort to set the record straight. Sad SAs speak: The ANC leaves us no choice… we…, Zondo: ‘Do you agree that former Transnet…, Grounded SA airline pilots: is it time to take off…, How to rescue your retirement – Magnus Heystek, © 2020 BizNews, Inc. | The Rational Perspective. The world is changing fast and to keep up you need local knowledge with global context. The world is changing fast and to keep up you need local knowledge with global context. Photo: Sipho Maluka/Sunday Sun/Gallo Images/Getty Images. Upon identifying the report released by Bloomberg, Capitec released a statement vehemently denying the allegations, saying: “Capitec Bank has taken note of the blatant, misleading and untruthful media commentary by Bloomberg News Service. While recent allegations have been denied by both SARB and the NCR, there was a time when the two appeared alongside Capitec in front of Parliament’s oversight committee on finance regarding the Viceroy report.

South Africa– Blue Sky Publications (Pty) Ltd T/A TheSouthAfrican Number: 2005/028472/07. Copyright © Blue Sky Publications Ltd. All Rights Reserved. Postal: Blue Sky Publications (Pty) Ltd T/A TheSouthAfrican, PO Box 44354, Claremont, 7735, South Africa, United Kingdom– Blue Sky Publications Ltd – Company Registration Number: 04683692. Charl Nel, head of communications at Capitec Bank, has pointed to a smear campaign aimed at ruining the bank’s image and dropping its share prices. Capitec shares drop 5% following “fake-news” The Bloomberg report was enough to spread panic amongst shareholders and investors, leading to a 5% drop in share prices on Tuesday. So I’m paying attention to the SENS announcement that both the incumbent and former CEO of Capitec have been selling big chunks of their holdings. Ditto that infamous R5bn share buy-back the company itself did shortly before the proverbial hit the fan. Reproduction without permission prohibited. No tears from them, however. Listen to the story of Cyril Ramaphosa's rise to presidential power, narrated by our very own Alec Hogg.
Perhaps the message the CEOs are sharing with us is that nothing rises forever in a straight line.

Kokkie Kooyman explains the reason for financial shares falling by an average of 7% on the JSE today – and why Capitec has been singled out for such a bludgeoning.

Capitec grows earnings 25% Capitec posted a rise in earnings of 25% over the period under review, reports Fin24.This brings earnings to R1 47 billion, from R1.2 billion for the same period … Address: Regus Business Centre ... Capitec … Help support journalists, the guardians of independent journalism, through our, Lenovo Tech World 2020: Here’s how to ‘take part in the future of innovation’, Beware: Don’t install these dangerous Android apps, PSL fixtures and kick-off times: 27-28 October 2020, Hard lockdown: The seven most bizarre rules that could make a return, #TheDrivetoDefy: VWSA partners with trailblazers to tell story of new T-Roc. Address: Riverbank House, 1 Putney Bridge Approach, London, SW6 4TJ. That meant they missed the 4% Cyril-spurt after Ramaphosa’s election victory. The world of finance and banking is often cut-throat, with underhand tactics aimed at subverting competitors, commonplace.

Both sold as Capitec shares hit a record price of R1,000. One thing is certain though; Capitec has a fight on its hands, and when fighting over billions of rands, expect it to get dirty. thesouthafrican.com is
If a company falls short of consensus numbers - or sometimes if it only meets expectations - its share price can fall. While no evidence is available, word on the corner of Gwen Lane and Maude Street is that some of the country’s big banks aren’t too happy about Capitec’s meteoric growth. Listen to the story of Cyril Ramaphosa's rise to presidential power, narrated by our very own Alec Hogg. Could the Bloomberg article be a figment with malicious intent? His predecessor offloaded R49m worth. But when insiders sell shares, the message they send us is less ambiguous.

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