‘Excitingly low’ market shares offer runway for Capitec’s growth – CEO

Lee says the group is “already incubating, funding, [and] actually working on those businesses in the three-to-five-year time horizon”, which includes “embedded finance, [and] an enterprise payments business that can take South Africa forward”.

You may be forgiven for thinking that Capitec CEO Graham Lee misspoke when he characterised the bank’s market share in South Africa as being “excitingly low”.“If you take all of the relevant headline earnings in South Africa [for business banking], and we’re excluding the very large corporate stuff here, we have only 5% market share of that R26 billion.”