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Viceroy, the US-based research group that exposed accounting failures at embattled global retailer Steinhoff, has struck again, this time exposing Capitec Bank for alleged "predatory finance."
This latest Viceroy report claims Capitec have been "advising and approving loans to "delinquent customers" in order to repay existing loans. Watch the live stream above as Capitec responds to this report.
Earlier on Tuesday, an official statement was released from Gerrie Fourie, CEO of Capitec Bank:
"We have been informed of the allegations which Viceroy has made against Capitec Bank. We strongly refute these allegations and are in the process of gathering information to respond to the claims made in the report with facts. We are committed to providing clear and transparent information that will show that these claims are baseless."
