Johannesburg – Capitec has officially changed its name from Capitec Bank Holdings Limited to Capitec Limited, as South Africa’s largest bank by customer numbers expands further into services beyond traditional banking.
The name change, which took effect in August 2026, was confirmed by the South African Reserve Bank’s Prudential Authority in a notice published in the Government Gazette on Friday, according to MyBroadband.
“Notice is hereby given, for general information, that Capitec Bank Holdings Limited, registered as a controlling company in terms of the Banks Act, changed its name to Capitec Limited,” the notice said.
The change follows shareholder approval and reflects the group’s strategy of broadening its offering beyond banking. Capitec said in its latest interim results that the move was “indicative of our journey beyond traditional banking”.
“This reflects our growing focus on delivering a wider range of value-adding solutions to our clients,” the group said.
Latest results
Capitec’s latest results, reported on 30 September, show that the strategy is already extending into several areas. According to Business Day, active clients reached 26.6 million in the six months to 31 August 2026, while headline earnings rose 19% to R9.5 billion.
Capitec Connect has also expanded rapidly. MyBroadband reported that the mobile service had about 1.8 million users by the end of August, with its subscriber base increasing by 700,000 in three months.
Capitec said Connect’s net income increased 72% to R248 million, while data usage more than doubled and voice usage increased 84%.
The group has also expanded into services such as Smart ID applications and digital stokvel accounts. Its Smart ID service had processed more than 594,000 applications by the end of August, according to Capitec’s results.
Capitec CEO Graham Lee said the group’s businesses had continued to grow despite an uncertain global economic environment.
“We kept fees unchanged for a second year running, invested in technology and in serving our clients better,” Lee said.
Capitec’s 2026 fee structure, which took effect on 1 March, retains a R7.50 monthly main-account fee, while key transaction charges include R1 for Capitec-to-Capitec payments and R2 for payments to other South African banks, according to the bank’s official fee schedule.
The group said it remains focused on becoming a major payments provider and expanding its “embedded finance capabilities”, signalling a continued shift from being primarily a bank to operating as a broader financial services platform.
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Compiled by Betha Madhomu
