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Capitec’s share price dropped after the banking group indicated that a proposed broad-based BEE (BBBEE) transaction for staff is likely to dilute earnings.

Shares in SA’s biggest retail lender by customer numbers fell 4% to close at R2,019 on Wednesday. That still leaves the Stellenbosch-based lender with a market value of about R242.2bn, making it the second-biggest banking group in SA after FirstRand by market cap...

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