Capitec Bank Releases Annual Compliance Report on Broad-Based Black Economic Empowerment Act

Published by
Lethabo Ntsoane
  • Capitec Bank Holdings Limited publishes its annual compliance report on the Broad-Based Black Economic Empowerment Act, demonstrating its commitment to economic transformation and inclusivity.
  • The report highlights Capitec Bank’s achievements in areas such as equity ownership, management control, and procurement enterprise and supplier development.
  • Capitec Bank’s B-BBEE status reflects a 51% black-owned entity, with a focus on empowering black women and designated group suppliers.

Capitec Bank Holdings Limited has released its annual compliance report regarding the Broad-Based Black Economic Empowerment Act (B-BBEE). The compliance report, as per the JSE Listing Requirements, was published on the Company’s website, along with the Company’s latest B-BBEE certificate.

The B-BBEE Act is an essential part of South Africa’s economic transformation and aims to address the inequality and exclusion that resulted from apartheid-era policies. The Act requires all companies operating in South Africa to comply with specific guidelines, including the promotion of black economic empowerment and the advancement of black-owned businesses.

Capitec Bank Holdings Limited has a long-standing commitment to B-BBEE compliance and has demonstrated its dedication to the principles of economic transformation and social justice in South Africa. By releasing its annual compliance report and B-BBEE certificate, the Company is demonstrating its continued commitment to transparency and accountability.

The compliance report and certificate can be accessed by the public on the Company’s website. Investors, stakeholders, and the general public are encouraged to review these documents to gain an understanding of Capitec Bank Holdings Limited’s commitment to B-BBEE compliance and its contribution to economic transformation in South Africa.

Lethabo Ntsoane

Lethabo Ntsoane holds a Bachelors Degree in Accounting from the University of South Africa. He is a Financial Product commentator at Rateweb. He is an expect financial product analyst with years of experience in reviewing products and offering commentary. Lethabo majors in financial news, reviews and financial tips. He can be contacted: Email: lethabo@rateweb.co.za Twitter: @NtsoaneLethabo