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Simon’s weekly wrap: Getting it very wrong, and very right

This week MoneywebNOW looked at Viceroy’s R50m fine; 4AX becoming Cape Town Stock Exchange; Solana, the ‘hottest’ cryptocurrency of the year, Stadio’s progress, and more.
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The week’s big story was the R50-million fine issued by the Financial Sector Conduct Authority (FSCA) to Viceroy Research for its 2018 Capitec report. I spoke with Wayne McCurrie and he pointed out that the fine wasn’t because it was wrong or suggesting a short on the stock. Rather the issue the FSCA had was that it included false and misleading information that Viceroy did not correct.

Locally we have four exchanges and 4AX is rebranding to become Cape Town Stock Exchange. I spoke with CEO Eugene Booysen on how it plans to position itself: adding listings of smaller businesses and also offering debt listings as it has one of only two debt exchange licences in South Africa.

Solana has been the hottest crypto this year, having gained some 13 000% so far in 2021. I spoke with Sean Sanders from Revix to understand what is making this new crypto explode and the shifts in the crypto space … it is no longer about being a currency but rather attention has shifted to efficient blockchain technology.

I spoke with Stadio CEO Chris Vorser about its interim results and the new campus in Centurion that is ready to start accepting students next year. He also commented that some 80% of existing students use distance learning, as it owns brands in this space. This of course has really helped during the pandemic and campus lockdowns.

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