If we are serious about growing the economy and creating jobs, we need to support these young people – even though they don't seem to expect any help or handouts, writes Melanie Verwoerd.
Showers late. Morning clouds. Mild.
Business Leadership South Africa says it has turned down an offer from Capitec Bank to pay for a report on short seller Viceroy Research, which had earlier in the year targeted the lender.
Viceroy also has no formal registration with any financial regulator, according to Intellidex.
Capitec says it is committed to transparency as it prepares a direct response to the latest jab from short-seller Viceroy.
Capitec, which has grown to become the country’s second-largest bank by customer number, announced new fees for 2018. Have a look at the changes.
Capitec has invited US-based short seller Viceroy to inspect its business operations, after its latest report again questioned the bank's loan book and handling of bad debt.
Short-seller Viceroy Research’s damning report on Capitec Bank may have been the talk of SA’s markets, but its devastating impact on the firm’s shares is already waning.
Viceroy Research, the group which released a report on Capitec, is short seller acting in its own interest, according to an analyst.
The bank, whose share price has decreased by some 20%, said it was reviewing the US short seller's new report, and would respond in details in a media briefing on Tuesday afternoon.
Who is Viceroy Research, what does its new report say, and why is it being taken so seriously?
A year before unleashing a damning report that has detailed accounting irregularities at Steinhoff International Holdings, one of its authors faced a reckoning of his own.
Viceroy came under fire this week for the quality of the reports it produced and the people involved in the entity.
Capitec has issued a statement in response to Viceroy's latest jab, condemning the short-seller for starting with a "strongly-worded" and "emotive" public campaign that let misunderstandings fester.
The Financial Sector Conduct Authority has been in contact with its counterparts in the US and the UK in a bid to contact short seller Viceroy over a report on Capitec.
The trade union met this week with senior Capitec management to discuss issues raised in Viceroy Research's negative report on the health of the bank's loan book.
It’s been a case of you win some, you lose some for Viceroy Research, the US-based short seller that has targeted SA bank Capitec and retailer Steinhoff.
Capitec has rejected a call to take on a second auditor amid a damning report, including queries about its loan book and level impairments.
The local bank's share price largely recovered from earlier losses to end the day just 2.96% weaker.
The South African Reserve Bank has responded to a call from US-based research group Viceroy that it should put Capitec under curatorship.
Viceroy, the group that exposed Steinhoff, believes Capitec is "a loan shark with massively understated defaults masquerading as a community microfinance provider".
Who is behind Viceroy? The organisation which is making every effort to remain anonymous has been responsible for volatile trade on the JSE as markets speculate on who will be the next Steinhoff.
Western CapeDepartment of HealthR316 700.00 - R316 791.00 Per Year
Western CapeUltimate SearchR180 000.00 - R220 000.00 Per Year
Western CapeO'Dwyer Personnel
R 12 750 000
R 4 295 000
R 1 695 000
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