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Capitec Is Massive

Capitec’s active client base has increased by 10% in a year.

30% of South African adults bank with Capitec Bank.

Lots of Clients, Lots of Profit

Capitec Bank have an amazing 22 million active clients on their books and are adding around 180 000 new app clients each month. This makes them the biggest retail bank in the country.

As a point of reference Standard Bank has around 12 Million active clients (source: moneyweb), Absa has 9.8 Million client and FNB has around 9.6 Million active clients. TymeBank, which has been making some inroads and gaining on the other banks now has around 9 Million clients (unclear how many are active).

Competition between the banks is feirce over which account clients use for most of their banking each month, like getting their salary paid in and debit orders going off of.

Capitec Bank make around R21 Billion from clients transaction fees. In the last 12 months they have also made around R3 Billion in additional income from clients who use digital products.

At present Capitec Bank has around 1.4 Million clients using credit cards.

Capitec's Very Rich Boss Hates Debt Review

Capitec’s big boss, Mr Gerrie Fourie is not a big fan of debt review.

Unfortunately, as the bank’s market share is just so big so too are the number of clients they see who enter debt review.

‘some may assume, a direct result of the bank lending funds to clients recklessly’

This is not, as some may assume, a direct result of the bank lending funds to clients recklessly and so people need to enter debt review. 

Rather, it is related to the fact that so many people who get into financial trouble (and everyone is in trouble) already have at least one account with Capitec Bank.

And when consumers enter debt review all the banks have to set aside special funds against the risk of recovery and this adds up. Especially if you have lots of clients. It squeezes their cash flow and so they find it hard to like debt review.

Capitec Bank have a well known debt review department that for many years was an industry leader in the field. Recently, other banks have made inroads against their performance though, with ABSA bank in particular taking many key awards at the 2023 Debt Review Awards.

‘Mr. Gerrie Fourie, earned about R65 Million in 2023’

Mr. Gerrie Fourie, earned about R65 Million in 2023 so, he may find it hard to personally relate to those who are trapped in debt but no doubt he sees the figures and can see consumers are in a world of hurt.

Interestingly, Capitec Bank’s website has some incorrect or misleading information about debt review such as where it states:

Our experience shows that 75% of people under debt review experience no long-term benefits afterwards despite paying all the debt review fees.

Under debt review:

    • You could pay R9500 or more in debt review fees
    • You won’t be able to use your existing credit
    • You won’t be able to get any new credit for up to 10 years afterwards


It is hoped that they correct or clarify the statements (the ‘up to’ type comments are always confusing for consumers, it is unclear how long long term is in their view). 

Note: Consumers are legally allowed to get access to credit as soon as they have a clearance certificate from a Debt Counsellor or even during debt review (a consolidation loan).

Also, it is good to note that few clients ever pay R9500 or more, with the industry median payments probably being closer to R3500 – R4000 but actually being tailor made to each client and included in any repayment plan.

If you are a Capitec client and start to experience debt repayment problems then feel free to approach the bank to see what deals they can put in place to help you

If that fails, then feel free to go talk to a Debt Counsellor who will help you deal with all your debts.