Capitec is the most popular bank amongst customers in South Africa

29 March 2019

South African research and business performance consultancy Consulta has released the latest iteration of its South African Consumer Satisfaction Index (SACsi) for retail banks in the country. Capitec has emerged as the most popular bank in the country amongst customers, followed by FNB.

The latest index comes shortly after Big Four accounting and advisory firm PwC released analysis detailing how the major banks in South Africa have maintained a mild but steady degree of growth due to increases in consumer spending. This is against the backdrop of sluggish economic growth in the country.

Alongside a slow economy, however, the major banks are currently struggling with a range of other disruptive factors, including regulatory and digital disruption, as well as the rapid increase in the number of smaller competitors who are emerging to capitalise on the rapidly expanding Fintech environment in the country.

Capitec is the most popular bank amongst customers in South Africa

Keeping customers happy is of paramount importance in such a scenario, and the SAcsi has revealed that the major banks appear to be doing so to a relatively high degree. The Big Four major banks listed by PwC – Absa, FNB, Nedbank and Standard Bank – all make the top six bank in Consulta’s list.

Nevertheless, the top spot in the SAcsi has gone to Capitec, which appears to have achieved a great degree of familiarity with its customers. “The Capitec promise of simple, easy, and affordable banking is strongly backed by its ability to deliver in terms of processes, people, and systems,” says Consulta.

Capitec was on top of the index for the last year as well, and has maintained its position despite a minute 0.4 point drop in its SAcsi score. FNB and Nedbank follow Capitec, and all three scored ahead of the industry average this year, while African Bank, Standard Bank and Absa followed in the same order, scoring below the industry average.

“Traditional banks are facing steadily increasing customer expectations while struggling to consistently get the basics right that underpin the most fundamental aspects of customer satisfaction,” said Consulta, in addition to enumerating the range of other challenges that are currently plaguing the South African banking sector.

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Bosch Capital wins Advisory Firm of the Year Award at SAPSA 2019

17 April 2019

This year’s South African Professional Services Awards (SAPSA) have taken place, and KwaZulu-Natal-based financial advisory firm Bosch Capital has been named the Advisory Firm of the Year amongst companies from the Commerce, Law and Management category across South Africa.

Bosch Capital is a subsidiary of South African holding company Bosch Holdings, which offers a broad range of advisory services in a number of different domains. The firm offers financial solutions and support in the consulting engineering domain, in addition to its project financing and deal making functions.

The firm was established in 2014, and boasts the additional value of a Level 2 B-BBEE rating. Infrastructure development and investment has become increasingly essential in the South African market, particularly as the economy looks to gradually build momentum after relative stagnation in recent years.

As a result, Bosch Capital has grown in significance since its establishment, and the firm appears to have impressed clients with its abilities. The firm not only won the Advisory Firm of the Year award for SAPSA 2019, but two of the firm’s executives were also nominated for individual accolades.

Bosch Capital wins Advisory Firm of the Year Award at SAPSA 2019

Managing Director at the firm Chris Baloyi was nominated for the title of Professional of the Year, while Jeshika Ramchund was named the SAPSA 2019 Engineering Young Professional of the Year. Ramchund is the Lead Engineer in the Developments domain for the Bosch Projects Vertical.

Bosch Projects was also nominated for the Engineering Large Firm of the Year Award, while umbrella entity Bosch Holdings was nominated for the Engineering Firm of the Year Award. As per CEO of Bosch Holdings Mike Gibbon, the accolades come at an opportune time for the firm.

“This esteemed award, which is an honour for the Bosch Capital team, comes as the company celebrated its fifth anniversary in 2018. We are proud that Bosch Capital has been acknowledged for attributes, which encompass the demonstration of leadership skills, professionalism, resilience and performance excellence,” he said.

Chris Baloyi added, “We are immensely humbled to have won this prestigious award – it is a great motivator for our team, as we steer the business into the next dimension.”