R1K Capitec Investment 20 Years Ago Rewards Investors With R2.3 Million, Leaving Many Kicking Themselves
- An analyst found that those who invested in Johannesburg Stock Exchange-listed Capitec in 2002 are reaping their rewards
- Analyst Pieter Koornhof said there are many lessons that could be learnt from the bank’s success story
- The findings left many South African citizens wishing they had invested in the Stellenbosch-based bank 20 years ago
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JOHANNESBURG - An investment of R1000 in Capitec 20 years ago would be worth an incredible R2.3 million today.
Source: Getty Images
The Stellenbosch-based bank is one of the biggest success stories in the country and has rewarded its investors generously. Capitec boasts an impressive 18 million clients and has a market value of almost R240 billion.
An analyst from Allan Gray said since listing on the Johannesburg Stock Exchange in 2002, Capitec has delivered a total shareholder return of 46% per annum. Capitec is the third largest JSE-listed bank.
Speaking to Sunday World, analyst Pieter Koornhof said there are many lessons that could be learnt from the bank’s success story. He said the bank’s founders disrupted the industry which has high barriers to entry and a large market size.
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Koornhof said the heart of the business for Capitec is its strong client-centric and innovative culture. He said the company aims to provide simple and accessible financial services that are transparent and affordable.
A MyBroadband analysis also recently found that Capitec’s GlobalOne transactional account has the most affordable online banking fees in the country. During the analysis, several major bank accounts were compared and Capitec was found to have one of the lowest monthly accounts fees.
Mzansi reacts to Capitec’s booming stocks
Ra Ra Rasputin Kwakwa said:
“Me on my way to invest 10k in TymeBank, Capitec started like TymeBank remember guys.”
Nani Styoshwana wrote:
“Why they did not tell us then?”
Frans Nghifikua posted:
“You are only telling us now? Should have told us 20 years ago.”
Lira Daddos commented:
“Not easy, it took time for Capitec to break even and at some stage it was struggling to get customers.”
Peter Ndou added:
“You can still invest that R1000 and wait for another 20 years and see if it would be still valuable.”
Man with large amounts of cash at ATM has SA scratching heads as man organises stacks of money, "Lobola or deposit"
Briefly News also reported that online users were thoroughly amused by a video of a guy with stacks of money at an ATM. The guy in the video inspired people to make assumptions about what he was going to do with all the money.
Tweeps had many guesses ranging from him needing it for lobola to him getting ready for groove. People wondered if it was even possible that he was withdrawing this much cash because of ATM limits.
A video posted by @MbazimaThomason shows one guy at an ATM with stacks of cash. In the video the man carefully organises the money he had.
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Source: Briefly News
