Explosive growth for Capitec, with more to come as it shakes up business banking - CEO Gerrie Fourie

After an early knock by Covid-19 containment measures, JSE-listed Capitec reported a dramatic improvement in headline earnings to just under R4bn for the second six months to the end of February. Its headline earnings fell for the year by 27% overall, but the bank has joined peers FirstRand and Standard Bank in resuming dividend payments. Capitec is now South Africa’s largest bank in terms of customer numbers. In this interview with Jackie Cameron of BizNews, CEO Gerrie Fourie shares why the bank reached a tipping point towards exponential growth and what’s next for Capitec as it continues to develop a strategy to scale up. He shares insights on how his team worked on strategy during lockdown, provides hints on how Capitec plans to eat into the market share of other business banks including dramatic changes to service, including digital methods. Learn more about your ad choices. Visit megaphone.fm/adchoices