Capitec Stokvels here soon

Capitec CEO Gerrie Fourie revealed they will launch Stokvels in 2025, followed by investment products.

Fourie shared this information during an interview with Biznews founder Alec Hogg following the company’s interim results.

Capitec has produced strong results for the first half of its 2025 financial year, with headline earnings surging 36% and return on equity nearing 30%.

The bank’s customer base increased to 23.2 million active clients, and its business banking division also showed good growth.

Capitec’s success lies in its financial ecosystem, including products like airtime, cellular services, and online vouchers.

Apart from helping Capitec generate half of its revenue from non-interest income, it also helps the bank to collect valuable data on its clients.

This data is used to provide services targeted to its clients’ needs and enhance their banking and financial experience.

Investment products seem like a logical next step, considering Capitec’s large client base and a wide range of financial services.

Fourie agreed, saying they have many plans in the investment space. However, to date, they have not had the time or focus to pursue them.

“The one area which we have neglected, and which is definitely on the cards for next year, is stokvels,” he said.

He said there is a big opportunity with Stokvels in South Africa, and after they launch it, they will move to investments.

A Stokvel is a type of credit union in which a group of people agree to contribute a fixed amount of money to a common pool weekly, fortnightly, or monthly.

The system is not unique to South Africa and is typically called a rotating savings and credit association (ROSCA).

There are examples of Stokvels globally, including in East Africa, South America, Pakistan, the West Indies, Mexico, the Middle East, South Korea, Japan, and Brazil.

Locally, the National Stokvel Association of South Africa (NASASA) represent the interests of the Stokvel sector.

A Stokvel group is required to be a member of NASASA or a similar body approved by the Registrar of Banks.

NASASA represents a constituency of over 800,000 Stokvel groups, consisting of over 11 million individuals, and collects roughly R50 billion annually.

Considering the size of the Stovel industry of South Africa, it is clear why Capitec is planning to launch its own Stokvel service.