February 21, 2017 5:07 AM ET

Consumer Finance

Company Overview of Transaction Capital Limited

Company Overview

Transaction Capital Limited provides non-deposit taking financial services in South Africa. It operates through two divisions, SA Taxi and Transaction Capital Risk Services. The SA Taxi division provides finance, insurance, and other related products primarily for small-to-medium enterprise (SMEs) in the fixed route minibus taxi industry. The Transaction Capital Risk Services division offers customer management and capital solutions, including the collection of accounts receivable across credit lifecycle; business support and working capital finance; and personal credit information, as well as tailor-made services. This division works with large consumer credit providers across various indus...

Finance House

230 Jan Smuts Avenue

Corner Bompas Road

Dunkeld West

Johannesburg,  2196

South Africa

3,260 Employees


27 11 049 6700


27 11 049 6899

Key Executives for Transaction Capital Limited

Chief Executive Officer and Executive Director
Age: 44
Total Annual Compensation: R5.4M
Financial Director, Company Secretary and Director
Age: 35
Total Annual Compensation: R1.4M
Deputy Chief Executive Officer and Executive Director
Age: 50
Total Annual Compensation: R5.9M
Head of Capital Markets and Executive Director
Age: 41
Total Annual Compensation: R3.3M
Chief Investment Officer and Executive Director
Age: 51
Total Annual Compensation: R5.9M
Compensation as of Fiscal Year 2016.

Transaction Capital Limited Key Developments

Transaction Capital Seeks Acquisitions

Transaction Capital Limited (JSE:TCP) has filed a follow-on equity offering. Transaction Capital continues to scan the environment for opportunities to make further acquisitions and to deploy capital, favouring a conservative approach with a narrow focus on assets operating within existing or adjacent market segments. In light of the above, the board of directors of Transaction Capital believes it is prudent to raise additional equity capital at this time, in order to create capacity for the Company to continue to pursue opportunities that meet its stringent criteria as they arise, while allowing for the flexibility of immediate cash settlement.

Transaction Capital Limited Management Changes

Transaction Capital Limited announced that Mr. David Woollam has indicated that he will not be available for re-election at the company's forthcoming annual general meeting to be held on March 2, 2017, and will thus resign on such date. Mr. Woollam was appointed as an independent non-executive director in February 2012. During this tenure, Mr. Woollam chaired Transaction Capital's Audit, Risk and Compliance Committee and was a valuable member of the Asset and Liability Committee. In addition, Mr. Dumisani Tabata has also indicated that he will not be available for re-election at the AGM, and will thus resign on such date. Mr. Tabata joined the Board as an independent non-executive director in February 2010, and during this tenure chaired Transaction Capital's Remuneration Committee and was also a member of the Nominations Committee. The company announced that Ms. Olufunke Ighodaro will be appointed as an independent Non-Executive Director with effect from April 1, 2017. It is intended that Ms. Ighodaro be appointed as a member of the Audit, Risk and Compliance Committee and the ALCO from such date. Ms. Ighodaro is a non-executive director of Datatec Limited, and previously held the positions of CFO of Tiger Brands Limited, CFO of Primedia Limited and MD of the private equity arm of Kagiso Trust Investments. Kuben Pillay will be appointed as chairman of the remuneration committee and as a member of the nominations committee (subject to his reappointment as a director at the forthcoming AGM); David Hurwitz will be appointed as the chairman of the ALCO. The Board of company also announced that Ms. Theresa Palos will replace Statucor (Pty) Ltd. as Company Secretary with effect from March 2, 2017. Ms. Palos is an admitted attorney and has over 20 years of legal and tax experience. Prior to joining Transaction Capital in July 2016, Ms. Palos held the position of Associate Director at KPMG in the tax and legal practice.

Transaction Capital Limited Announces Audited Consolidated Earnings Results for the Year Ended September 30, 2016

Transaction Capital Limited announced audited consolidated earnings results for the year ended September 30, 2016. For the year, the company reported net interest income of ZAR 879 million against ZAR 821 million a year ago. Profit before tax was ZAR 601 million against ZAR 499 million a year ago. Profit attributable to ordinary equity holders of the parent was ZAR 458 million against ZAR 401 million a year ago. Diluted basic earnings per share were ZAR 80 against ZAR 69.8 a year ago. Net cash utilized by operating activities were ZAR 108 million compared to ZAR 9 million a year ago. Headline earnings per share were ZAR 80.6 against ZAR 69.0 a year ago. Return on average assets was 25.5% against 31.5% a year ago. Return on average equity was 16.7% against 12.8% a year ago. Headline earnings were ZAR 458 million against ZAR 393 million a year ago.

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