Capitec’s results for the six months ending August paints a picture of a recovering SA economy but undoubtedly shows the country’s most vulnerable bearing the brunt of the lockdown and associated economic fallout.

“We have seen the lower-income customers taking the biggest hit on income levels, as well as casual and contract workers,” says Capitec CEO Gerrie Fourie, adding that there has been a sharp reduction in remuneration for overtime and in bonuses.

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