Kokkie Kooyman: Why Capitec has fallen 38% since Tuesday – and what to do about it

Capitec, the South African bank twice rated the world's best in the annual rankings by London-based Lafferty Group, was the biggest casualty on a wipeout day for financial shares. The stock's share price lost an astonishing 38.5% in two trading sessions, down from Tuesday's R1,110 to close at R682 tonight (Thursday). Those two trading days have knocked R50bn off the business's imputed valuation with its market capitalisation now R80bn. Is this a portend of worse to come, or the buying opportunity of a lifetime? Capitec's directors were quick to release a statement on SENS in an effort to calm its shareholders' jangling nerves. And as you'll hear in this podcast the bank's argument gets some welcome support from Kokkie Kooyman, for many years South Africa's leading banking sector investment analysts. In this special podcast the Denker Capital co-founder explains the reason for financial shares falling by an average of 7% on the JSE today – and why Capitec has been singled out for such a bludgeoning. – Alec Hogg

It's been a wipeout day on the JSE today, particularly for financial shares and right on cue, Denker Capital's Kokkie Kooyman has distributed a brief to clients of the firm, and of course, to us in the media to say that they're finding opportunities amidst the fear. Now, just by way of background, Kokkie is the go-to man in South Africa for financial services analysis. He's also the man who was there on hand when I had my very first look at Berkshire Hathaway, which was 15 years ago. But it's a warm welcome to Kokkie on a day that I guess for you, must have been fielding many calls from those investors in your financial services fund.

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