South Africa’s Competition Commission has recommended that the Competition Tribunal approve Capitec’s proposed R400 million acquisition of fintech provider Walletdoc in full, subject to specific behavioural conditions. Capitec, the country’s largest bank by customer base, first announced its intention to acquire the Johannesburg-based company in December 2025. Read: Cape Town approves the Equinix 170MW data…
Capitec has agreed to open its Capitec Pay platform to competing payment service providers, and not to favour it over the banking industry’s shared instant-payments rail, as conditions for regulatory approval of its acquisition of payments fintech Walletdoc. The Competition Commission has recommended that the Competition Tribunal approve the transaction subject to those conditions. The…
Capitec built its position on a bet most of the banking industry declined to make: that a customer who is poor today will be valuable in five to seven years, if their financial life develops normally. By then their income will have grown, they will have a credit history – and they will trust the…
Capitec Bank’s mobile virtual network operator, Capitec Connect, more than doubled its net income contribution to R442-million in the year to 28 February 2026, as subscribers, data traffic and voice minutes all surged. The Cell C-hosted operator, which launched in late 2022, reported 1.5 million clients active in the past three months of the reporting…
Capitec Bank has put artificial intelligence tools in the hands of almost 5 000 of its employees and is running an agentic AI inside its business banking credit processing operation, according to the group’s 2026 integrated annual report, published on Wednesday alongside its full-year financial results. South Africa’s largest retail bank by client numbers said the…
Capitec CEO Graham Lee Capitec Bank has scrapped call charges between its own Capitec Connect Sim cards in a sharp competitive move by South Africa’s largest mobile virtual network operator. CEO Graham Lee announced the change at the group’s full-year results presentation in Stellenbosch on Wednesday, saying calls between any two Capitec Connect numbers are…
In a significant leap for South African public service delivery, the Department of Home Affairs and Capitec launched the country’s first self-service terminals on Monday. This new system allows citizens to apply for ID documents directly at bank branches without the need to interact with a customer service consultant, effectively bypassing the traditional administrative bottlenecks…
The department of home affairs and Capitec on Monday launched South Africa’s first self-service terminals that will allow citizens to apply for ID documents at Capitec branches without the need to engage with a customer service consultant. “This partnership with Capitec marks a historic step in transforming how South Africans access their identity documents. By…
Capitec has appointed Andrew Baker as chief information officer (CIO), succeeding Wim de Bruyn as the bank adjusts its executive structure to support its next phase of technology development. Andrew Baker | image supplied Baker previously served as chief technology officer and has been with the bank for four years. In his new role, he…
Andrew Baker Andrew Baker has been appointed as chief information officer of Capitec. Baker, who was previously the company’s chief technology officer, takes the CIO reins from Wim de Bruyn, who had been in the role since 2014. “Baker … takes the helm from Wim de Bruyn to lead the next phase of the bank’s…
