Smart Money – Karl Kumbier on how Capitec Business Banking reaches entrepreneurs and underserved markets
In this Smart Money with Alishia Seckam interview, Karl Kumbier talks about the role of Capitec Business Banking in South Africa and explains how it is reaching underserved markets.
Kumbier is the executive for Business Banking at Capitec and has over two decades of experience in the financial services industry.
His banking career started at Standard Bank, where he worked in various roles between 2001 and 2008, including being the director of business development and the provincial director for personal and business banking.
In 2008, Kumbier took on the role of chief operating officer at Stanbic Bank Ghana and then moved to Mercantile Bank.
At Mercantile Bank, he first served as a provincial executive director for retail and business, before becoming the chief executive – a position he held for over a decade.
Kumbier took on his current role as Executive for Business Banking at Capitec in 2019 when Capitec bought Mercantile Bank.
Prior to his banking career, Kumbier completed his articles in 1992 at Price Waterhouse and then became a corporate internal auditor at Guardian Royal Exchange.
The interview
In this Smart Money interview, Kumbier predicts what the future holds for small businesses and entrepreneurs in South Africa.
Kumbier then explains what role he wants Capitec Business to play in this sector, highlighting how the institution is extending its offerings to often-underserved markets.
He also discusses the role that responsible business banking plays in economic inclusion and explains how Capitec Business is future-proofing its services.
Kumbier concludes the interview with an important message for South African business owners.
Watch the full interview with Karl Kumbier below.
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