Capitec Says It’s Luring Barclays Africa Clients on Low Fees

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Capitec Bank Holdings Ltd., the South African provider of unsecured loans, said it’s winning clients from Barclays Africa Group Ltd. and First National Bank as consumers try to save on banking fees.

“We’ve taken the most new clients from Barclays Africa over the past 18 months to two years,” Chief Executive Officer Gerrie Fourie said by phone from Johannesburg Tuesday after the lender reported a 26 percent gain in full-year net income.