South Africa's banking miracle and greatest post-apartheid success story was built on lies. The Stellenbosch elite thought their secrets were buried forever. They were wrong.

You don't build a banking empire overnight without breaking a few rules. The first red flag should have been the doctored maiden results, but the market failed to notice. Even, when Viceroy Research unleashed a damning report calling Capitec "A Wolf in Sheep's Clothing," the market shrugged. But the ‘grey-zone’ accounting shenanigans are in the numbers, which don't lie — even when the bankers do.

Author Jaegur Martin has assembled the smoking guns that they thought were destroyed. As Michiel le Roux and his cronies count their wealth, one question burns: Will they bail out before the bank needs a bailout?

The banking elite are counting on ignorant silence. Read the book they never wanted written and expose their lies.

Today, international investment law consists of a network of multifaceted, multilayered international treaties that, in one way or another, involve virtually every country of the world. The evolution of this network continues, raising a host of issues regarding international investment law and policy, especially in the area of international investment disputes. This Yearbook monitors current developments in international investment law and policy, focusing (in Part One) on trends in foreign direct investment (FDI), international investment agreements, and investment disputes, with a special look at developments in the oil and gas sector. Part Two, then, looks at central issues in the contemporary discussions on international investment law and policy. With contributions by leading experts in the field, this title provides timely, authoritative information on FDI that can be used by a wide audience, including practitioners, academics, researchers, and policy makers.

Imagine starting with a bold mission in 2012: to achieve financial inclusion through a multi-country bank. Within a decade, this vision becomes one of the fastest-growing fintechs in the world.

Now, picture starting this business in South Africa, a country the IMF ranked as the hardest place to do business out of 49 countries surveyed. Imagine having the foresight to partner with a family-owned food retailer to establish a lowcost, physical banking footprint. Such success didn’t go unnoticed and one of the world’s largest banks acquired the company. A clash of cultures followed and, just four years later, the divestment. Despite the risks, one of South Africa’s wealthiest entrepreneurs stepped in to take control. Then came Covid-19. The business nearly hit the wall and shareholders demanded a successor of their choosing be trained. A frantic 217 pitches for fresh capital yielded no success. And then, at the eleventh hour, there was a reprieve as one investor and then another stepped up.

Now, imagine launching in the Philippines, replicating and improving what works while designing an entirely new cloud-based banking stack with over 500 Vietnamese developers. Imagine assembling a team from Italy, the US, the UK, South Africa, Vietnam, the Philippines, Australia, India and Zimbabwe. Picture shaping a culture where failure is part of growth, and audacity is the norm, not the exception. Imagine becoming the global poster child for AI in banking and receiving an email in June 2025, informing you that your company is one of Time magazine’s Top 100 most influential companies in the world. This incredible story unfolds within the pages of It’s About Tyme. As Roger Grobler, a longstanding investor in Tyme puts it, ‘Courage and audacity are not just bold strategies – they’re the safest. Because playing it safe is, ironically, the riskiest thing you can do.’

This text represents how academia and real-world practice have come together with a common respect and focus of theory and practice. It provides a unifying approach to the valuation of all derivatives. This popular course text is considered to be the bible by practitioners.

During the years before 1914 the world's still largely unused resources were brought increasingly within the framework of a single world economy. This process owed much to Britain's ability to export capital on a scale which has never since been equalled. Yet periods of heavy investment overseas alternated with home investment booms that absorbed the greater part of Britain's savings. The reasons for this fluctuation, and the mechanism which linked Britain's economic development with the rest of the world, are still subject to debate. This volume illuminates the problems of the global economy today by examining different interpretations and research from history.

There can be few everyday financial issues more important than the price of houses. Whether we own one and worry about its value or aspire to own one and are frustrated by their high prices, nobody can avoid the issue. In the UK, while prices have fluctuated during our lifetimes, overall they have risen steadily and sometimes spectacularly. The accepted wisdom is that houses are a safe and excellent investment for the long term. But are they really as good an investment as we believe? Might the future be different from the past? Are houses really so safe? This book looks at house prices over the long term in several countries -- including the UK, the US, France, Holland, Norway, Germany and Australia -- to find out what has happened to house prices and why. The author illustrates his findings with authoritative data on trends and provides intriguing details including a century-long index of UK house prices, an analysis of the value of the White House and a fascinating four-hundred-year story of houses in Amsterdam. - To what extent are we right to view our houses as an investment as well as a home? - If prices can rise for decades and then fall for more than a whole generation, then what does the future hold? - If prices rise further, will houses become unaffordable for many young people? How will that affect our society? - If they crash, will that endanger our banks once more? - Are politicians, policymakers and regulators prepared for the true range of possibilities? Anybody who owns a house, wants to own a house or follows the prices and economics of housing will find this book an accessible, fascinating and door-opening read. Neil Monnery studied at Oxford and Harvard Business School. He worked for many years at The Boston Consulting Group as a Director and Senior Vice President and is now active in business, investing and research.

In 1940 few Americans had heard of mutual funds. Today U.S. mutual funds are the largest financial industry in the world, with over 88 million shareholders and over $11 trillion in assets. Cottage Industry to Financial Giant describes the developments that have produced mutual funds' long history of success. Among these developments are: * formation of the first mutual funds in the roaring 20s * how the 1929 stock market crash, a disaster for most financial institutions, spurred the growth of mutual funds * establishment in 1934, over FDR's objection, of the United States Securities and Exchange Commission, the federal agency that regulates mutual funds * enactment of the Revenue Act of 1936, the tax law that saved mutual funds from extinction * passage of the Investment Company Act of 1940, the "constitution" of the mutual fund industry * the creation in 1972 of money market funds, which totally changed the mutual fund industry and the entire U.S. financial system *enactment of the Employee Retirement Income Security Act of 1974, which created Individual Retirement Accounts * the accidental development of 401(k) plans, which have revolutionized the way Americans save for retirement * the 2003 trading abuses, the greatest scandal ever in the history of the mutual fund industry Many events have never been reported before. Others have been discussed in works on other subjects such as retirement plans. Thus, this is first book that pulls together the many strands of mutual funds' unique history. Moreover, the author was personally involved in developments over the past forty years, and much of the book is a personal narrative regarding the people and events that have produced mutual funds' success.

This is a study of the law governing the bank-customer relationship pertaining to the disposition of funds by cheques and credit transfers, covering both paper-based and electronic payments. The work addresses, with various degrees of detail, common law, civilian, and `mixed' jurisdictions, particularly, Australia, Canada, England, France, Germany, Israel, Italy, Japan, South Africa, Switzerland and the United States. In addition to the description of the law in these jurisdictions, the book contains an in-depth analysis of the common issues and the responses to them, in light of desired policies. Accordingly, an evaluation of the various rules and proposals for reform are integral parts of the study.

A closely held firm is not a smaller version of a large public firm, anymore than a child is a miniature adult. While realizing that like large corporations, value comes from a business's ability to generate future cash flows, Long and Bryant emphasize the differences between the two. The primary question is does a separate entity exist or is the business just an extension of its principal owner or manager? If yes, how does this business vary from a large publicly traded firm with market and not management control?
This book gets to the fundamental differences between the two and the adjustments made to correctly value. It avoids the traditional multiples of earnings or multiple of sales and other cookie-cutter approaches, to focus on the basic ability to create value. The book also avoids specifics in tax laws as they change and vary between countries. While providing a conceptual process, Valuing the Closely Held Firm provides numerous examples to lead the reader to understand the concepts.