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Capital Appreciation — it’s a clever name, isn’t it? Capital appreciates in value (hopefully) and shareholders are appreciative thereof. With a return of 84% in the past year and nearly 100% over five years, Capprec (as it is commonly referred to) is living up to the name.

The company plays in the tech and payments sector, so in the US it would probably be valued at twice the multiple at which it trades on the JSE. Though I would hope that an offshore listing is perhaps a long-term goal for the business, a market cap of under R2.5bn means that Capprec will be sticking to braais and biltong for a long time to come. This is still a small company even by JSE standards...

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