WATCH: What does the African Bank collapse tell us about Capitec?
Since its listing in 2002, Capitec has taken the banking sector by storm. It has overtaken Nedbank as the country’s fourth-largest bank and was voted the world’s best bank in the Lafferty Group’s Global Bank-Quality Benchmark for two consecutive years. But its share price has plummeted since the release of a Viceroy Research report last Tuesday that called the bank a loan shark. Some analysts have compared Capitec with African Bank to draw parallels between the two. Denker Capital portfolio manager Kokkie Kooyman spoke to Business Day TV about the Capitec report. OR LISTEN TO THE AUDIO: