Jamie Carr Columnist

Punters who like a flirtation with the minnows expect the potential of significant upside to compensate for the risks attached, and these buccaneers of the investment world could do a lot worse than to have a peep at IT services firm Capital Appreciation. It doesn’t have a long record, but 2018 was a transformative year, and its market cap at R1.4bn is just starting to drift into that sweet spot where institutional investors might be tempted to have a nibble. What’s really appealing, however, is that the business areas in which it deals have the potential to take off like a homesick angel. The largest division operates in payments and payment infrastructure, where it looks after payment devices for its banking and institutional clients. Despite the inevitable lag provided by a depressed retail sector, this division has more than doubled the number of terminals managed in the year, an exceptional performance. Its Dashpay operation offers innovative payment services that will fit in w...

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