Capitec's target market under threat

[Daniel Puchert]

Target on Capitec's back

Capitec has seen a meteoric rise in South Africa’s banking landscape. Its success has attracted many new competitors following Capitec’s playbook to get a slice of the pie.

Michiel le Roux founded Capitec in 1997. In March 2001, it was spun off from financial services company PSG Group and listed on the JSE in February 2002.

 

[UB40]

At least it is not Under Siege this week

 

[epah]

I believe it, FNB stole @backstreetboy from Capitec.

 

[Aghori]

At least it is not Under Siege this week

That reminds me, I gotta watch Under Siege again. Been decades now.

 

[backstreetboy]

Yeah they don’t give me a free coffee like FNB and Starbucks and Discovery and Vida.

 

[epah]

Yeah they don’t give me a free coffee like FNB and Starbucks and Discovery and Vida.

But I thought you were happy about the 20c you get for every R1000 spent.

 

[Swa]

Pity they lost focus of the "value" and are chasing profits.

 

[backstreetboy]

Pity they lost focus of the "value" and are chasing profits.

They’re still much cheaper than the rest.

 

[Swa]

They’re still much cheaper than the rest.

Depends on the transaction. For R10 GOG purchases, which has been the majority the last few years, they're the most expensive by far. That is something they should address instead of just continually introducing higher tiers.

 

[backstreetboy]

Depends on the transaction. For R10 GOG purchases, which has been the majority the last few years, they're the most expensive by far. That is something they should address instead of just continually introducing higher tiers.

Stack them.

 

[UB40]

That reminds me, I gotta watch Under Siege again. Been decades now.

I didn't like that movie when it came out, anything with Steve Seagull as lead actor is crap

 

[The Trutherizer]

What South Africans need is a decent set of services, and a platform that slowly but surely teaches them how to thrive financially. Too bad that some banks seem hell bent on convincing South Africans otherwise. No matter how low the fees are, that's costing South Africans. Long term.

 

[chrisc]

Had my 4 Capitec accounts for 21 years now. They do everything well, which is a change for this country

 

[supersunbird]

That reminds me, I gotta watch Under Siege again. Been decades now.

 

[supersunbird]

But I thought you were happy about the 20c you get for every R1000 spent.

To be accurate, it is R10 for every R1000 spent.

 

[supersunbird]

Had my 4 Capitec accounts for 21 years now. They do everything well, which is a change for this country

I'm a month shy of 16 years, and have not had a bad experience as I have had with FNB and SB and ABSA.

 

[UB40]

I get a MASSIVE free Wimpy meal of my choice every 3 months with FNB.

 

[epah]

To be accurate, it is R10 for every R1000 spent.

Still not worth it.

 

[Iamn0tageek]

Isn't Capitec for poor people?

 

[epah]

Isn't Capitec for poor people?

It is.