Inflation, power cuts hit Capitec clients hard
Old Mutual customers also taking strain and struggling to service their policies
Clients earning less than R10,000 are bearing the brunt of the surge in food and fuel inflation, said Capitec CEO Gerrie Fourie, while small businesses are taking major strain from load-shedding.
“Inflation in petrol has a major impact on people earning less than R10,000 and that is where we cut back the most” in terms of lending, he said. ..
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