JAMIE CARR: Unicorn CEO seems to have filled his cup with truth serum
Jacques Badenhorst does not hold back while detailing the challenges in transforming from a diversified mining and mining services group into an investment holding company
The problem with establishing a track record of stellar growth is that there will be sniping when the curve starts to flatten. A porky old legacy player could bash out a 17% rise in headline EPS and the market would barely stir from its slumbers. But when such a number comes from Capitec, it’s a bit like the Visigoths arriving at the gates of Rome. The nonbelievers will raise a quizzical eyebrow and start to hint that the story has run its course. But shareholders shouldn’t be too concerned. The commentary to the bank’s results stresses that it is dealing with customers in an economy under severe pressure, which is an environment where chasing after growth can turn around sharply and bite you in the seat of the pants.Many a corporate leader fights shy of issuing bad news to shareholders, tending to prevaricate and bluster rather than thrust the chin forward and invite anybody to take a shot. This tactic does not appear to appeal to Unicorn Capital Partners CEO Jacques Badenhorst, wh...
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