Capitec month end woes continue, but not as bad as last year

Capitec Bank, one of South Africa's largest retail banks, recently experienced an outage that left many customers frustrated and unable to access their money. According to reports on downdetector, at least 62% of users reported problems with the mobile app, while 37% said they were experiencing problems with internet banking. This incident raises concerns about the reliability of digital banking services and the impact it can have on customers.

By Lindsey Schutters

1 Sep 2023

Capitec has over 20 million users.

The bank announced that it has hit a key milestone of over 20 million clients in March this year with CEO Gerrie Fourie saying that this cements the group as the largest retail bank in South Africa by customer numbers, with a client base larger than the populations of Malawi, Zambia and the Netherlands.

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This milestone compounds the effect of the latest outage that has left many customers frustrated and some even threatened to boycott the bank. Capitec Bank is working to resolve the issue and restore services as soon as possible.

Downdetector outage report as of 7am.

Another bad August

In August 2022 Capitec faced a 40-hour outage that also took its bank branch systems offline. The bank recovered quickly and even celebrated an award two months later when it was named SA's best digital bank in the InSites Consulting South Africa annual SITEisfaction survey.