net income of R35 million<\/a> during the 2023\/24 financial year.<\/p>\n\n\n\nCapitec noted that the R69 million figure for the half-year ended 31 August 2024 is up from R4 million in the same six-month period the year before.<\/p>\n\n\n\n
As of August this year, Capitec Connect had reached 1.2 million SIMs, of which 50% generated revenue within the past 30 days.<\/p>\n\n\n\n
The MVNO also revealed data usage figures for the past three half-year periods, with usage reaching 5.1 petabytes in the half-year ended August 2024.<\/p>\n\n\n\n
“Five petabytes is equivalent to streaming 1.7 million rugby games,” said Capitec.<\/p>\n\n\n\n
The data usage figure is up from 1.4 petabytes in the same period the year prior.<\/p>\n\n\n\n
Capitec also noted that it had released some new Capitec Connect products during the six months in question, including expiring data bundles.<\/p>\n\n\n\n
It previously offered non-expiring data purchases at a consistent rate of R0.045 per megabyte. However, it introduced expiring 24-hour, 7-day, and 30-day bundles to offer more competitive pricing for some data allocations.<\/p>\n\n\n\n
It emphasised that its one-day bundles are valid for 24 hours, regardless of the time of purchase, and don’t automatically expire at midnight.<\/p>\n\n\n\n
The MVNO product is proving a big success for Capitec. The R35 million profit in the last financial year represented a R42 million swing from the R7 million loss it posted in 2022\/23.<\/p>\n\n\n\n
However, it should be noted that the MVNO only launched in September 2022, with the R7 million loss coming in its first five months of operation.<\/p>\n","protected":false},"excerpt":{"rendered":"
Capitec Connect profit for the half-year ended August 2024 is nearly double the profit it recorded in the entire 2023\/24 financial year.<\/p>\n","protected":false},"author":341076,"featured_media":462138,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_facebook_post_id":"","_sma_instagram_post_id":"","_sma_threads_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[14],"tags":[5334,81699,20557],"class_list":["post-562941","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cellular","tag-capitec","tag-capitec-connect","tag-mobile-virtual-network-operator-mvno"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/562941"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/341076"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=562941"}],"version-history":[{"count":5,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/562941\/revisions"}],"predecessor-version":[{"id":570282,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/562941\/revisions\/570282"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/462138"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=562941"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=562941"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=562941"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}