Two-thirds of CEOs in Southern Africa expect disruptions
More than two out of three chief executives in sub-Saharan Africa believe their companies face a moderate, high, or extremely high threat of disruptions stemming from social inequality over the next 12 months, according to PwC’s 26th Global CEO Survey and Africa Business Agenda Report for 2023.
Whereas only 26% of chief executives globally expect disruptions from social unrest, 46% of CEOs in Africa and 67% of CEOs in Southern Africa expect their companies to face high or extremely high exposure to threats from social unrest.
PwC said the findings were understandable, because the Southern African Customs Union –Botswana, Eswatini, Lesotho, Namibia, and South Africa – is the world’s most unequal region from an income and consumption per capita perspective.
Funds with the most exposure to Transaction Capital
Some 370 local and international local and international unit trust and hedge fund portfolios held Transaction Capital’s shares, according to an analysis by Citywire. However, only 65 of them gave it a weighting of more than 1%, based on the most recent available data.
The shares of South Africa’s biggest taxi financier more than halved last week following a trading update in which it warned that core earnings would be down between 20% and 50% over the half-year period. Its shares peaked at over R52 in April last year. By the end of February, they were already 40% lower at R31. They have since dropped another 60%, to be trading around R13.
In absolute terms, the biggest holders of Transaction’s shares were three Goldman Sachs Asset Management emerging-market funds. At the end of December last year, the biggest local holder was the Old Mutual Investors’ Fund.
Citywire’s analysis also listed the funds that were the most exposed to Transaction based on the relative size of their holdings.
