Transaction Capital's 'shitshow' - CEO David Hurwitz on his share sale, SA Taxi and the way ahead

Transaction Capital's position as South Africa's second-best wealth creator for shareholders (behind Capitec) over the past decade fell in a heap this month as the share price collapsed from R30 to under R10. A pre-results profit warning last Monday (13 March) triggered selling that accelerated as rumours took hold, resulting in the shares falling precipitously to a low of R8 on Thursday. The fact that CEO David Hurwitz sold a large chunk of his shareholding in December fuelled Mr Market's righteous indignation. In this candid interview with BizNews founder Alec Hogg, the embattled company's bruised CEO cuts to the chase, providing context and explaining why the company has aborted a significant stock issue (to buy more of WeBuyCars) because it believes the shares have fallen too far. Learn more about your ad choices. Visit megaphone.fm/adchoices