Capitec to face strong competition from Shoprite and Pepkor

• Capitec will face strong competition from Shoprite and Pepkor in the coming years, as they launch banks targeting the same or similar customers.
• Old Mutual, Shoprite, and Pepkor plan to launch banks that serve the low-end and up-and-coming middle-income market, with a focus on customers earning between R8,000 and R80,000 per month.
• Capitec's growth and market share may be impacted by the entry of these new competitors, with Shoprite aiming to generate up to half of its profit from banking within the next 10 years.