The building blocks of success: Capitec CEO on why they’re number 1
JOHANNESBURG — Last year, Capitec broke new ground with a live webcast of its AGM, and this year CEO Gerrie Fourie did the same thing. The AGM, which was held in May, saw Fourie take the wraps off new initiatives such as a recently launched credit card. Fast forward a few weeks later, and for the second successive year, the banking group was also named the world's best bank in the annual Global Bank Quality Benchmark compiled by the Lafferty Group. The report painted a bright light on a sector the Zuptoids are targeting, with South Africa's big four banks – Barclays Africa, FirstRand, Standard Bank and Nedbank – all following close behind with four-star ratings. Capitec, meanwhile, is the only bank to get five. The AGM offers some fantastic insight into the 'how and why' behind Capitec's success, and is a must listen. We've also included the interview with Michael Lafferty, who unpacks why Capitec and South African banks in general are rated so highly. – Stuart Lowman