The Ombudsman for Banking Services (OBS) has published its annual report for 2021, revealing the relationship between the country’s largest banks and their clients.
Analysts forecast that the country's jobless rate is now edging towards the 40% mark as the country is unable to absorb younger workers into the labour force.
South Africa's major banks are increasingly leveraging existing non-bank infrastructure to broaden their customer reach in an efficient and affordable way, a new study by Genesis Analytics and the Financial Sector Conduct Authority (FSCA) shows.
"You can go to Switzerland where everything works but there are no opportunities. In South Africa, nothing works but there are plenty of opportunities," says Capitec chief executive Gerrie Fourie.
Banking group Capitec on Tuesday (12 April), reported an 84% increase in headline earnings per share for the year ended February 2022, to R73, with active clients were up 14% to 18.1 million, boosted by continued momentum in digital banking.
With so many entry-level bank accounts in South Africa to choose from, BusinessTech provides a comparison between them, looking at fees for withdrawals, deposits, and monthly maintenance.
Capitec says it will expand its Live Better behavioural savings account into a full rewards programme, including a push to offer R1 billion in cashbacks and savings to clients by the end of the year.
Banking group Capitec has published its updated fee schedules for the 2022/23 financial year, which will come into effect from 1 March 2022.
The Solidarity Research Institute (SRI) has published its latest Banking Charges report, showing how pricing at South Africa’s biggest banks compares, based on different user profiles.
Capitec has announced that one of its co-founders and chief financial officer, André du Plessis, will retire from the group effective 30 June 2022.
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