Crisis sell-off: Market is sending WeBuyCars owner Transaction Capital a message | Business

Transaction Capital says the minibus taxi industry is not recovering as initially anticipated and has thus booked R1.9bn in provisions for potential bad debt in SA Taxi.One-time investor darling Transaction Capital has suffered another shock slump amid increasing concern about its massive debt burden and strategic misjudgements.

The company lost more than a third of its value on the JSE on Wednesday. In mid-March, the company crashed 40% in a single day after warning the market that a sharp fall was coming in its earnings for the six months to end March.Read this for free Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.

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