DE­STROYED BUT NOT FOR­GOT­TEN

Finweek English Edition - - INVESTMENT -

When you are in the busi­ness of doc­u­ment stor­age for third-party clients, the worst pos­si­ble event that could oc­cur is a fire at the ware­house where the doc­u­ments are stored – and this is ex­actly what hap­pened to Metrofile’s KwaZulu-Natal fa­cil­ity. Re­ports in the me­dia sug­gest that it was Gov­ern­ment doc­u­ments that were de­stroyed, with no news on whether or not dig­i­tal back­ups ex­ist. Ei­ther way, the share price hardly re­sponded, ini­tially drop­ping some 4% be­fore re­cov­er­ing as if noth­ing had hap­pened, and it is only one of 26 ware­houses that the com­pany op­er­ates so a small in­ci­dent in terms of the num­ber of doc­u­ments, but it could have been huge in terms of rep­u­ta­tion.

Metrofile Hold­ings

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