{"id":533629,"date":"2024-04-23T10:00:50","date_gmt":"2024-04-23T08:00:50","guid":{"rendered":"https:\/\/mybroadband.co.za\/news\/?p=533629"},"modified":"2024-04-23T10:24:37","modified_gmt":"2024-04-23T08:24:37","slug":"capitec-connect-makes-r35-million","status":"publish","type":"post","link":"https:\/\/mybroadband.co.za\/news\/cellular\/533629-capitec-connect-makes-r35-million.html","title":{"rendered":"Capitec Connect makes R35 million"},"content":{"rendered":"

Capitec Connect generated R35 million in net transaction and commission income for the period 1 March 2023 to 29 February 2024.<\/p>\n

This represents a massive R42 million year-on-year increase, with Capitec Connect recording a R7 million loss the year before.<\/p>\n

However, the mobile virtual network operator (MVNO) only launched on 26 September 2022.<\/p>\n

The R7 million loss therefore represents its first five months of operation.<\/p>\n

Capitec CEO Gerrie Fourie revealed the figures in his presentation of the bank\u2019s annual results on 23 April 2024.<\/p>\n

\u201cI\u2019m very excited about Capitec Connect,\u201d Fourie said.<\/p>\n

He said Capitec Connect would be launching \u201cquite a lot\u201d of new products in the coming months.<\/p>\n

Fourie also said their MVNO is an important component of their overall strategy as it helps them understand their clients better.<\/p>\n

He said they would use data analytics from Capitec Connect to optimise their client experience.<\/p>\n

\"\"<\/a><\/p>\n

Capitec Connect runs on Cell C\u2019s MVNO platform. Its network infrastructure is operated by MTN.<\/p>\n

Capitec made waves in 2022 when it launched cellular services promising mobile data that never expires.<\/p>\n

In reality, it had launched a prepaid offering with really low out-of-bundle tariffs<\/strong><\/a>.<\/p>\n

Subscribers paid for service with airtime at the following rates:<\/p>\n