Capitec’s headline earnings grew to R6.28 billion in 2020 financial year versus R5.29 billion in 2019.

Loading player...
Gugu Mfuphi talks to Gerrie Fourie, Capitec Ceo about Capitec’s headline earnings grew to R6.28 billion in 2020 financial year versus R5.29 billion in 2019.

The company’s return on shareholders’ equity remained consistent at 28% for the 2020 financial year.

“Our client base grew by 22% to 13.9 million active clients (2019: 11.4 million). On average 200 000 clients joined us per month during the year.”

The total remuneration for Gerrie Fourie, Capitec boss, has been reduced by R22 million to R72 million in 2020 financial year.

The banking group revealed in its 2020 annual report that Fourie’s total remuneration was R72 million versus R94.9 million in 2019.
Capitec Bank revealed today that it has signed up more than 1.5 million new customers for the year end-February 2020.

On Thursday, Capitec confirmed that its credit insurance covers a temporary loss of (or reduction in) income as a result of the lockdown and state of national disaster. It said that it also negotiated with its credit insurance provider for additional coverage to help those facing retrenchment or forced unpaid leave for an extended period.
Capitec requires credit insurance for credit cards and loans that stretch over seven months or more.
If a client loses her entire income, instalments will be paid for twelve months, or the remaining period of the loan, or until she can earn an income again, whichever is the shorter period.
But if the client loses 60% of her income, the credit insurance will cover only 60% of the instalments.
14 Apr 2020 12PM English South Africa Business News · Investing

Other recent episodes

Protests, Politics & State Capacity: What Today’s Unrest Signals

Anti‑immigration protests highlight deep governance failures, rising public frustration and the erosion of state authority. Professor William Gumede unpacks the political economy behind the unrest, the risks to social cohesion, the impact on investor confidence, and why South Africa urgently needs a coordinated, evidence‑based migration strategy.
30 Jun 5PM 22 min

One Labour Market, Three Data Sets: The Real Story Behind Jobs

GDP shows modest growth, QES shows formal job trends, and the QLFS reveals household‑level pressure. Together, they paint a complex picture of South Africa’s labour market. Statistician‑General Risenga Maluleke explains how these data sets interlink, where they diverge, and what they reveal about job creation.
30 Jun 5PM 20 min

Tax Traps 2026: What SARS Won’t Tell You

South Africa’s tax season opens with new rules, new risks and widespread misconceptions. From two‑pot withdrawals taxed at marginal rates to multiple IRP5s, provisional tax surprises and auto‑assessment pitfalls. Stian De Witt from NMG Benefits explains the hidden traps catching ordinary South Africans
30 Jun 5PM 21 min

Migration Reality Check: The Data Reshaping South African Business

South Africa faces three simultaneous migration forces: regional labour inflows, skilled emigration, and massive internal movement toward urban edges. Andrew Fulton breaks down the real numbers behind immigration, emigration and interprovincial migration
30 Jun 5PM 10 min

Mine 2026: The New Battleground for Global Mining

PwC’s Mine 2026 report shows miners posting record profits — yet facing unprecedented structural pressures. Energy Utilities and Resource Assurance Partner Vuyiswa Khutlang breaks down the three imperatives reshaping mining: policy stability, capital mobilisation, and technology‑driven productivity. We explore copper’s surge, coal’s decline, selective M&A, and why geology alone no…
29 Jun 5PM 16 min