Capitec, founded by South African billionaire Michiel Le Roux, is expanding its branch and ATM network in 2026, bucking the industry trend of scaling back physical banking infrastructure.
The retail bank plans to increase its presence in busy retail centers and transport corridors, targeting lower-income and peri-urban areas where cash remains king.
Despite the rise of digital banking, Capitec believes physical access is crucial to its low-cost, high-volume model. The bank operates over 860 branches and 8,500 branded ATMs, with a client base exceeding 25 million.
Statistics show that 60% of low-income earners still withdraw most of their income in cash, supporting Capitec’s strategy.
Capitec is also transforming select branches into multipurpose service centers, integrating government systems and offering smart identity card services.
This move aims to boost foot traffic and align banking with public service delivery.
Le Roux’s approach contrasts with rivals who are cutting costs by reducing physical networks.
Capitec’s expansion highlights its competitive positioning, betting that accessibility will remain a viable strategy in South Africa’s varied economy.
