Capitec’s headline earnings grew to R6.28 billion in 2020 financial year versus R5.29 billion in 2019.

Loading player...
Gugu Mfuphi talks to Gerrie Fourie, Capitec Ceo about Capitec’s headline earnings grew to R6.28 billion in 2020 financial year versus R5.29 billion in 2019.

The company’s return on shareholders’ equity remained consistent at 28% for the 2020 financial year.

“Our client base grew by 22% to 13.9 million active clients (2019: 11.4 million). On average 200 000 clients joined us per month during the year.”

The total remuneration for Gerrie Fourie, Capitec boss, has been reduced by R22 million to R72 million in 2020 financial year.

The banking group revealed in its 2020 annual report that Fourie’s total remuneration was R72 million versus R94.9 million in 2019.
Capitec Bank revealed today that it has signed up more than 1.5 million new customers for the year end-February 2020.

On Thursday, Capitec confirmed that its credit insurance covers a temporary loss of (or reduction in) income as a result of the lockdown and state of national disaster. It said that it also negotiated with its credit insurance provider for additional coverage to help those facing retrenchment or forced unpaid leave for an extended period.
Capitec requires credit insurance for credit cards and loans that stretch over seven months or more.
If a client loses her entire income, instalments will be paid for twelve months, or the remaining period of the loan, or until she can earn an income again, whichever is the shorter period.
But if the client loses 60% of her income, the credit insurance will cover only 60% of the instalments.
14 Apr 2020 12PM English South Africa Business News · Investing

Other recent episodes

SA Vehicle Sales Hit Best April Since 2013

South Africa’s new vehicle market surged 13% year-on-year in April, even as exports slipped and fuel-driven cost pressures rose. Naamsa Chief Economist Dr. Paulina Mamogobo unpacks the data.
5 May 4PM 20 min

Taxi Fares Rise as Fuel Costs Surge

Taxi fares across SA are increasing by R2–R6 locally and up to R30 on long‑distance routes. SANTACO spokesperson Rebecca Phala discusses the pressures on operators, commuter impact, and what further hikes could mean.
5 May 4PM 12 min

Fuel Spending Drops 35%: What Discovery’s Data Reveals

Discovery Insure data shows a dramatic 35% drop in fuel spend and a 28% fall in transactions as motorists respond to April’s price hikes. CEO Robert Attwell explains the behavioral shifts, the rise of ride‑hailing, and what this means for mobility and affordability in SA.
5 May 4PM 13 min

How Fuel Prices Are Changing Car Buying in SA

Fuel is no longer just a running cost—it's reshaping how South Africans choose, afford, and finance their cars. WesBank Senior Economist Thanda Sithole explains shifting buyer behavior.
5 May 4PM 16 min

Rebuilding SA’s Industrial Base

Bridgestone SA MD Jacques Rikhotso warns that South Africa’s industrial foundations are eroding fast, with tire production falling sharply and imports surging past 10 million units. We explore what this means for jobs, competitiveness, and the urgent interventions needed to rebuild industrial resilience.
4 May 4PM 14 min