STOCK TAKE | Transaction Capital's word soup - and govt's 'spustya rukava' problem | Business

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STOCK TAKE | Transaction Capital's word soup - and govt's 'spustya rukava' problem News24_Business

, as the Russians would say. It translates to"with sleeves rolled down", meaning doing something in a slipshod, uncommitted manner. That's exactly how the SA government handled an explosive allegation that Russia received weapons in SA.

Another theory is that South Africa is supporting Russia because it wants to demonstrate its non-Western stance and allegiance to China, which has deep pockets and doesn't ask as many questions as the West. The State Capture Inquiry found that CRRC businesses paid billions in kickbacks to Gupta associates and were unfairly favoured in a R54 billion deal to supply Transnet with locomotives.

On Wednesday, its interim earnings release triggered a 35% drop in its share price, as well as a migraine for anyone averse to PR speak. Its other subsidiary Nutun, meanwhile,"leverages South African rand-denominated resources, data, technology and analytical capabilities to drive local and global growth, across customer lifecycle in various sectors". [It runs call centres for debt collections.]

 

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