Court lashes out at Capitec

The banking group argued the shares should only be sold to a qualifying black person and the Transnet pensioners are white.“Capitec is willing to keep Regiments as a shareholder even though it recognises that Regiments has stolen more than one billion from indigent pensioners belonging to the fund," said Judge Bashier Vally.

"The logical conclusion of this position is, is its loss of 0.7-percent BEE rating is so important that it rather keep links with a shareholder that’s tainted with dishonesty than reduce the rating,” said.

Capitec and Guptas shame

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