He worked for R1 a month to save a failing business. Now Carl Neethling will never list again

Loading player...
Carl Neethling didn't set out to run Ascendis Health. A small, almost accidental shareholding tripped a JSE disclosure threshold, and not long after that he was locked out of his own email on the day he took the company over. What he found inside: nineteen accountants who, in his words, spent their days counting money that no longer existed, a head office costing more each year than the whole business was worth, and a regulator that ruled his takeover consortium had broken the law, only for a high court to tear the ruling up. He calls it the most painful experience of his life, and he's adamant Ascendis will never go anywhere near the JSE again.
8 Sep 10AM English South Africa Investing · Business News

Other recent episodes

SA's Competition Commission has become a handbrake on the economy: Rob Rose

Bryan Brownrigg was never a currency trader. He sold foreign exchange to Standard Bank's institutional clients for 23 years. But when the Competition Commission decided that 28 banks had run a single conspiracy to rig the rand, his name went into the complaint anyway, and it took a decade and…
11 Sep 7AM 20 min

He built a $1.5bn bank. Now Revolut, Discovery Bank and PEP are circling

In this interview with Irakli Rekhviashvili, Tyme Group co-founder Coenraad Jonker gives his take on what actually protects a digital bank once the competition catches up, and why he thinks the old rules of banking no longer apply. On competitive advantage, he says: "I'm saying to my guys increasingly, I…
11 Sep 7AM 50 min