Investors unfazed as Transaction Capital hangs on to interim dividend 🔒
Transaction Capital’s shares jumped to their highest close in almost two weeks as the company bet on the “indispensable” taxi industry and growth in its debt-collection business as cash-strapped consumers struggle to make bank repayments in the wake of the Covid-19-induced economic slump.
In addition to SA Taxi, which funds and insures the multibillion-rand minibus industry, the company also owns TCRS, which buys non-performing loans from banks at a discount and then collects them. The near-shutdown of the economy has seen a drop in activity, leading to R126m impairment provision for SA Taxi while it reduced the assumed value of loans in TRC’s portfolio.
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