Daily Dispatch

Loan capital on JSE

- By Samuel Mungadze

TRANSACTIO­N Capital announced last week it would be listing on the JSE during the second week of June.

The company said it intended to grow its business in the booming unsecured lending space.

Transactio­n Capital CEO and Massmart founder Mark Lamberti said: “We expect to be listed the second week of June. We are going to grow our business in the unsecured lending but will do that with caution. We’ll not involve our clients in excessive debt.”

There has been an explosive growth in unsecured credit in the past couple of years and it has ignited concern over the debt position of consumers in the country.

Recent figures from the National Credit Regulator showed unsecured loans grew by nearly 60% in both the third and fourth quarters of last year. Lamberti said his entity would not be swayed by this growth.

The company is a consortium of six financial services sector businesses: SA Taxi, Rand Trust, Bayport, MBD Credit Solutions, PIC Solutions and Paycorp Holdings.

The company said the proposed listing followed a decade of developmen­t and growth of the underlying assets and their agglomerat­ion into a group in 2007.

Lamberti said the listing would be a key catalyst to the company’s growth and would bring value to investors. — Inet Bridge

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