Shockwaves in the telco industry as Capitec Connect’s customer count Soars to 1.2 million in just 2 years

Cape Town – The latest revelation from Capitec Bank’s mobile virtual network operator, Capitec Connect, has sent shockwaves through the telco industry. The network operator, which launched in 2022, has quietly grown its customer base to an astonishing 1.2 million in just two short years.

But that’s not all – Capitec Connect’s growth spurt has been fueled by a bold challenge to the industry’s “excessive pricing and lack of transparency”. The bank is promising to shake things up with simple, affordable, and transparent data, voice, and SMS bundles that will give consumers a much-needed respite from the pricey norm.

The numbers are staggering. Active Sims have jumped by a whopping 30% year on year, with a staggering 95.1 million voice minutes used in the reporting period, a 215% increase from the same period a year ago. Data usage has also skyrocketed, increasing from 1.4 petabytes to 5.1PB – that’s a 360% increase!

But what’s driving this explosive growth? It’s clear that Capitec Connect’s unique selling proposition is resonating with consumers. “Net transaction and commission income, including VAS and Capitec Connect, was one of the main drivers of growth,” the bank boasted in its latest update. And with 89% of transactions now going digital, it’s clear that the future of fintech is looking bright for Capitec.

And did you know that Capitec has also partnered with MultiChoice Group-owned Showmax to offer its customers an unbeatable deal? In just one month, a staggering 50 000 voucher sign-ups had been recorded – talk about a winning formula!

Can anyone stop Capitec Connect’s meteoric rise?

The telco industry better take note – Capitec Connect is the real deal. With its lightning-fast growth, affordable prices, and commitment to transparency, it’s clear that the bank is here to stay. But can its rivals keep up? Only time will tell.

Want to know more?

Read our exclusive interview with Capitec’s CTO to find out how they’re driving innovation