Stephen Cranston Associate editor

The viceroy of India had absolute power and certainly didn’t consult his subjects before making decisions, at least until the 1930s. Many of us might see the same imperialist arrogance in the  new Viceroy, which is on the radar with its reports on Steinhoff and Capitec. It is tempting to dismiss Viceroy’s "wolf in sheep’s clothing" report as malicious and designed to help it make a killing from short selling. I deplore its attitude of refusing to check facts or give a right of reply to Capitec before publishing. However, this is no time to get defensive about our banking system. I know that much of our technology is well ahead of the UK, where cheques are — amazingly — often still sent by regular mail. Capitec’s branches are clean and simple, and the account management is excellent. It has attracted deposits from clients considerably more affluent than it would have expected in its early days.But most of us are shielded from the raw engine of Capitec, which is providing microloans. ...

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