RECORD management is hardly the most glamorous of sectors. But it does enable market leader Metrofile to offer the sleep-easy lure of annuity-like cash flow, a high level of earnings and dividend growth certainty, and a rock-solid balance sheet.“Regulation makes our services a necessity,” says Metrofile CE Pfungwa Serima.It’s a necessity the pending Protection of Personal Information Act (Popi) is ratcheting up. Under Popi, directors and employees face a fine of up to R10m or a potential 10-year jail sentence for noncompliance.Popi means even more boxes of documents will be added to about 9m already stored for more than 9,000 clients in Metrofile’s 44 storage facilities across SA. Due togrowth in demand, a 45th facility is to be built in Gauteng.Metrofile’s national footprint and a market share of about 65% provide it with qualities Warren Buffett values. The Sage of Omaha summed it up in a 2007 speech: “I want a business with a moat around it and a very valuable castle in the middl...
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