Transaction Capital (TransCap), whose market capitalisation has plunged more than 75% since the start of the year, is in discussions with lenders over new funding as its taxi-lending business faces a cash crunch.

The company’s stock on Tuesday extended its losses and plunged more than 35% as it reported a R1.86bn loss in the six months ended March, from a R615m profit in the comparative period. The huge loss meant the group did not issue a dividend...

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