Boardroom Talk: Thanks to booming WeBuyCars, we’re happily along for the Transaction Capital ride

There seemed to be an air of desperation in early billboards featuring Bronkhorstspruit-bred Faan and Dirk van der Walt. The huge outdoor adverts featured the brothers with broad smiles and hands full of cash, reminding passing drivers that "We Buy Cars". Comical perhaps, but they certainly worked.  

Two decades on their company is worth R10bn according to Transaction Capital CEO David Hurwitz. Who should know as he's about to buy another 14% of the business, taking TA's stake to 89%. Helped by TC's funding, it's growing like topsy, revenues surging 66% to almost R18bn in the 12m to end September.

That ranks WeBuyCars just behind Truworths and ahead of WBHO in turnover; and within SA's Top 100 companies on market cap. Hurwitz and I spoke a lot about WBC in our post-results interview yesterday. At 43%, the Van der Walt-creation is now the group's biggest profit source, up from 27% last year and 7% when it first entered the accounts in 2020.

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