Actis, a leading growth markets investor, has announced their agreement to the sale of Compuscan, a provider of credit information and ScoreSharp, a decision analytics company, to Experian for ZAR3.72bn.
IRFS 16 Summary
Objective of IFRS 16
IFRS 16 establishes principles for the recognition, measurement, presentation and disclosure of leases, with the objective of ensuring that lessees and lessors provide relevant information that faithfully represents those transactions. [IFRS 16:1]. Effective from January 2019.
New accounting rules for leases on the horizon
The International Accounting Standards Board (IASB) issued IFRS 16 Leases in January 2016. IFRS 16 sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract, i.e. the customer (‘lessee’) and the supplier (‘lessor’). IFRS 16 is effective from 1 January 2019.
Transaction Capital posts strong interims in tough climate
Asset-backed lender, Transaction Capital has reported a 20% climb in headline earnings to R177 million. This performance is ahead of expectations as of March 31, 2015.
Qrent offers to help put rented computers in SA schools
Qrent, a division of Innovent and client of Xpertek, specializes in refinancing used assets including second hand computers. The assets are rented to clients at an affordable price.
Technology Can Help Us Too
Nearly everyone has a phone. Despite this, businesses continue to keep records manually and they still send their sales reps out into the field armed with a clipboard and a pen. Meanwhile, mobile phones have replaced the need to write out personal notes, to place physical orders, do banking, use maps, keep a contact book and much more.
Capitec Bank Soaring
Capitec Bank is progressing to new heights on the JSE. This happened as foreign buying continued unabated last Thursday. “The company is now well on its way to breaking into the JSE’s elite top 40 index,” Anchor Capital said in a note.
Inclusion into the top 40 index will provide a further boost for Capitec as many global funds will then include Capitec stock in their list of portfolios. An analyst, not wishing to be named, said Capitec’s earnings growth was not centred only on continued client growth. “It has a lot of fat with provisioning and clearly does not need all of it.”
NCR given May deadline to review service fees on loans
The end of May is the deadline for the NCA to submit proposed changes to the monthly service fees that credit providers are allowed to charge on credit agreements.