Inflation, power cuts hit Capitec clients hard
Old Mutual customers also taking strain and struggling to service their policies
01 October 2023 - 07:01
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. ..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.