South Africa

Economy is getting there but not yet, says Capitec boss

Gerrie Fourie, CEO of the country’s third-largest bank by market value, Capitec, is optimistic about the resilience of the economy but says it is still too soon to open the credit taps as the bank sits atop a vast cash stockpile.

There are still underappreciated green shoots in the economy to celebrate, Fourie says, including that unemployment is not as bad as was initially envisaged at the outset of the pandemic. But he believes the larger picture remains too uncertain to call. ..

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