Capitec Connect is now contributing positively to earnings
Capitec Connect, the bank’s MVNO business, reported R35m in net transaction and commission income
23 April 2024 - 11:38
Capitec’s mobile unit is now contributing positively to the bank’s earnings, according to its annual results released on Tuesday.
The bank said new products launched in the year to end-February generated an additional R1bn in net transaction income. In total, these strategic initiatives that include value-added services, Live Better benefits, Capitec Connect, Capitec Pay and digital wallets contributed R2.9bn to net income, up 93%. ..
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