Capitec’s stellar earnings

Johanesburg — Gerrie Fourie, Capitec’s chief executive officer, says management saw the challenges of the last year as an opportunity for adaptation. “The bank’s digital solutions have been crucial in enabling this growth. In addition, our staff have been instrumental in this adoption and have excelled in this new, hybrid, digital world,” he says. The bank’s job creation successes are a story in and of themselves, more so in a country which currently has an unemployment rate of 35.5%. Since 1 March 2001, just over 20 years ago when Capitec had 25 000 loan clients, 55 branches and 500 employees, this “original banking sector disruptor” has grown in leaps and bounds to boast of 18.1 million clients, 850 branches and almost 15 000 employees today. —