How low can Viceroy go?

Viceroy Research is of the opinion that the South African public and international markets are so gullible that they will take its findings on Capitec at face value.

With its badly-written research, so desperate is Viceroy that it wants us to believe lies it claims are sourced from “on-the-ground discussions with Capitec ex-employees, former customers and individuals familiar with the business”.

Just how low can Viceroy go in its crusade to sabotage SA’s fastest growing bank and the country’s economy? The core question we should all be asking is who stands to gain if the Viceroy campaign succeeds in leading to Capitec losing clients and a drop in the bank’s share price?

Since inception Capitec been providing simplified and affordable banking facilities to clients via the innovative use of technology in a manner that is convenient and personalised. It has, among its major shareholders, the Public Investment Corporation, custodian of most South African pensions.

The Reserve Bank has described Capitec as “solvent, well capitalised with enough liquidity”. Added to this is rating agency Standard and Poor’s unambiguous support for Capitec, a wellrun bank with a steady income from deposits and transaction fees.

South Africans should rally around Capitec in the interest of growing the country’s economy, and pay no attention to Viceroy, which seeks nothing less than to sink the banking sector and SA’s economy, which Deputy President Cyril Ramaphosa has been working so hard to stabilise.

Brian Sokutu

Gauteng