Capitec, South Africa’s largest digital bank, is set to begin trading its ordinary shares on tech-driven alternative stock exchange A2X Markets on Monday, September 7, 2026. The lender will maintain its primary listing on the Johannesburg Stock Exchange (JSE). The move provides institutional and retail investors with an additional regulated trading venue aimed at reducing execution costs and boosting overall share liquidity.
Enhanced Liquidity and Lower Transaction Costs
The secondary listing allows Capitec to join peer banking institutions—including Absa, Nedbank, Standard Bank, and Investec—on the A2X platform, which has expanded to host over 175 listed securities since launching in 2017. Capitec Chief Financial Officer Grant Hardy emphasized that the bank's issued share capital will remain unchanged, while A2X Chief Executive Officer Kevin Brady highlighted that trading fees on the alternative venue are approximately 50% lower than those of the primary exchange.
Evolution into a R540 Billion Digital Powerhouse
The additional exchange listing reflects Capitec’s broader strategic transition from a traditional credit provider into a multi-service digital ecosystem. Currently valued at approximately R540 billion ($33.8 billion) and serving over 26 million active clients, the group's financial metrics underscore rapid non-interest revenue expansion:
- Value-Added Services & Telecoms: Revenue from value-added services and Capitec Connect grew 38% to R6.1 billion ($377 million) for the financial year ended February 2026.
- Fintech Contribution: Fintech operations accounted for 26% of total group headline earnings.
- Capitec Connect Scaling: The Mobile Virtual Network Operator (MVNO) expanded to 1.5 million active clients, providing 3 petabytes of free data (worth R78 million) and launching direct smartphone sales via its mobile app.
Investment Outlook
By leveraging its massive active user base to roll out payments, connectivity, and insurance services without incurring steep customer acquisition costs, Capitec continues to reinforce its market position. The dual-listing structure on A2X is expected to further optimize capital efficiency and trading flexibility for shareholders.
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