Latest News & Developments
Discover how Capitec Bank's innovative funeral cover strategy, priced at R102. 95 compared to R360. 00 from competitors, is transforming the insurance landscape in South Africa. Explore the insights from Tim Treagus and learn what this means for consumers and the industry.
South Africa's leading banks are investing in affordable housing, youth employment, and green financing.
Sanlam announces robust earnings growth for 2024, driven by strategic partnerships and market expansion across Africa and India.
Standing committee on finance chairperson Joe Maswanganyi said the finance standing committee has repeatedly expressed concerns regarding the lack of urgency in addressing financial exclusion and gradual transformation within the financial sector.
Will South Africa's Major Banks Be Held Accountable for Allegations of Collusion and Racial Discrimination?
Capitec Bank Holdings has forecast a robust 28% to 32% increase in headline earnings for the year ending February 2025, driven by lower credit losses and a strong performance in the banking sector.
The South African Reserve Bank has imposed administrative sanctions on Capitec Bank for failure to comply with Financial Intelligence Centre Act (FIC Act).
South Africa’s vulnerable status on the FATF greylist reveals substantial AML and CFT inadequacies … to prevent international scrutiny, restricted access to global financial markets, and greater bank operating costs, considerable adjustments are needed before January 2025, while only 16 of 22 action items have been completed.
Mmakgomo Doris Ngcobo was known to the different scammed women only as Lebo, while others know her as Linky, when they were scammed out of R2 million.
As the holiday season approaches, tap-and-go card fraud becomes a pressing issue.
South African insurers are making bold moves into banking, while banks continue to sell insurance.
The bank has now identified stokvels as a product that its clients will utilise in order to enhance their banking and financial experience.
The digital bank, now with 23 million customers, saw net transaction and commission income increase 19% to R6. 9 billion in an economy that barely grew. Value-added services and Capitec Connect revenue grew by a strong 79% to R2bn. Return on shareholder equity increased to 29% from 24% at the same time a year ago. The interim dividend was raised 36% to R20. 85.
Capitec released its first half of its 2024 financial year and noted that it had an incredibly strong performance, making around R2. 5 billion in profit before tax.
Capitec’s digital banking platform, now with 23 million customers, experienced a 19% increase in net transaction and commission income, reaching R6. 9bn. .
It is still too early to assess the impact of this decision, but there are signs that we might be following the same troubled path as countries that have adopted a neoliberal economic approach and are now battling social unrest.
Their massive earnings raise questions about income disparity, especially in a country where the majority of the population lives in poverty.
As South Africans sink deeper into poverty, it is not enough for banking executives to sit comfortably atop their ivory towers. The obscene levels of executive pay amidst widespread poverty and unemployment must be challenged, writes Independent Media Editor-in-Chief Adri Senekal De Wet.
For the past month the JSE has been in bullish territory and in the green, racking in record closes on the back of renewed business and investment confidence in South Africa.
It is launching a campaign next month to get devices into the hands of more merchants as it targets digital inclusion away from cash.
Capitec's 12 million active app users are now able to buy Showmax streaming vouchers from only R22 a month – less than R1 a day – exclusively on the Capitec banking app.
Capitec said their 12 million active app users are now able to buy Showmax streaming vouchers from only R22 a month, less than R1 a day, exclusively on the Capitec banking app.
The search is on for the country's best baker when 12 teens battle it out in the kitchen to win the title of Taste Master Junior.
Innumerable working citizens who simply cannot afford formal dwellings such as houses, flats, townhouses, and communal or backyard rooms, are forced to live in informal dwellings such as shacks, sheds and other makeshift structures
How small-scale township property developers are changing the face of the property market