Business and Technology

Capitec earnings hard hit by COVID-19

Capitec is the latest bank to report results showing a devastating hit from COVID-19. Headline earnings for six months to end August fell 78-percent as customers borrowed and transacted less during the lockdown.

Capitec is the country’s largest bank by customer numbers.
Singling out the new Easy Equities partnership, Fourie said that Capitec hopes to launch this functionality by mid-October. He said that customers will be able to buy shares directly through Easy Equities at a discounted rate.

While Capitec has historically focused on the lower-income market, Fourie said that he sees this new partnership as more of a ‘value-add’ for clients.

Capitec Bank

He said that lower-income people normally don’t invest into equities, however, there is clear interested amongst the bank’s younger clients.

Results published on Wednesday (30 September) showed an increase of 24% in digital banking clients, since August 2019, which now amounts to 7.3 million clients, making Capitec South Africa’s largest digital bank.

In other news – #JusticeForMloo – Social Media on fire as Person who ‘killed’ Mluleki Mbewana exposed

After the death of Mluleki Mbewana famously known as Drip King on social media, who was allegedly shot has not received justice as there are no arrests yet and #JusticeForMloo is currently trending on Twitter, with people claiming the alleged killer is know and why has he not been arrested? Learn more

Source: eNCA