Try our mobile app
TransCapital Investments Limited
Transaction Capital Limited
(Incorporated in the Republic of South Africa)
(Incorporated in the Republic of South Africa)
Registration Number: 2002/031730/06 Registration Number: 2016/130129/06
JSE share code: TCP Bond company code : TCII
ISIN: ZAE000167391 LEI NUMBER: 378900AA31160C6B8195
(“Transaction Capital” or “the Company”)
GOMO CONCLUDES FUNDING AND OPERATIONAL AGREEMENTS
Shareholders are referred to Transaction Capital’s results announcement for the half year ended 31 March
2023 in which shareholders were advised that “Gomo was in the process of securing arrangements with a
funding partner’’.
Gomo is a joint collaboration between WeBuyCars and Mobalyz and originates debt agreements for
consumers to acquire pre-owned vehicles. Gomo currently has concluded more than 2 500 vehicle backed
loans and has a loan book of R515 million which is currently funded on balance sheet.
Transaction Capital is pleased to advise that agreements have been concluded with a leading South African
bank in terms of which Gomo becomes an originator of loans for the bank on agreed criteria, earning a
portion of net interest margin and other fees, and with the assets ultimately being funded on the bank’s
balance sheet. The Gomo product will be available across the entire national dealership network of
WeBuyCars, and not just in Gauteng as at present. A substantial increase in the scale of the Gomo business
is anticipated over the next few years as Gomo is now positioned to maximise this growth opportunity.
Any forecast information included in this announcement has not been reviewed or reported on by the
Company’s external auditors.
Rosebank
19 June 2023
Enquiries:
Lisa Lill – Company Secretary
Email: lisal@transactioncapital.co.za
Sponsors:
Equity Sponsor: Investec Bank Limited
Debt Sponsor: Rand Merchant Bank (A division of FirstRand Bank Limited)
