26.6 million. That’s how many customers Capitec now has. The bank that once challenged South Africa’s traditional Big Four has grown into the country’s biggest by customer numbers. Its rise was built on a different bet: target a mass market, pursue volume and make banking increasingly digital. Capitec has since expanded into business banking, higher-income customers and other financial services.
But the market is shifting again. TymeBank reached 12 million customers in less than seven years, while other digital players are also competing for a share of South Africa’s banking market.
Gareth Edwards and Francis Herd unpack how Capitec became a banking giant, why its original strategy worked and whether the disruptor can stay ahead as a new generation of challengers comes after it.
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Chapter List
(00:00) 26.6 Million: Capitec’s customer lead
(00:30) How much would R1 invested in Capitec be worth?
(01:18) The strategy behind Capitec’s rise
(02:37) The digital banks challenging The Big Five
