Vodacom Quietly Prepares to Indirectly Acquire Embattled Cell C Prepaid Customers 

Insiders have revealed that Vodacom South Africa has installed an indoor RF site (Antenna) at the headquarters of cash-strapped Cell C in Sandton. TechFinancials has...

Latest Posts

US-Based Investor SixThirty Invest in SA’s InsurTech Firm Click2Sure

SixThirty, US-based tech venture capital fund, is making a big bet on South Africa's InsurTech company Click2Sure. SixThirty is a venture capital fund and...

What Is An Algorithm? How Computers Know What To Do With Data

by Jory Denny The world of computing is full of buzzwords: AI, supercomputers, machine learning, the cloud, quantum computing and more. One word in particular...

MultiChoice South Africa Taps Nyiko Shiburi as New CEO

Nyiko Shiburi has been appointed the new CEO of MultiChoice South Africa (MCSA). Until now, Nyiko has been the Regional Director of MultiChoice Africa:...

Vodacom To Spend R320 Million To Bring Broadband In KwaZulu-Natal

Vodacom will invest just over R320 million into the network across KwaZulu-Natal province during the 2020/2021 financial year. The lion’s share of the capital...

Capitec Wants to Democratise Investing in Stock Markets

Capitec Bank, South Africa’s largest digital bank, wants to democratise stock trading through creating new modern investing platforms.

The bank is targeting its 4 million app customers by making investing in the stock market easier.

Capitec announced on Friday that it has added the EasyEquities investing platform to its new banking app, allowing its clients to invest in shares on stock markets in South Africa and the US.

“The partnership brings our clients greater accessibility to a variety of investment options in an affordable and simplified way,” says Francois Viviers, executive of marketing and communications at Capitec.

 

“We currently have over 4 million app clients, who will now not only be able to invest in top South African companies but also those based in the USA, a unique feature not offered by traditional brokers.”

A ‘democratized” stock trading could completely change how we think about investing—and how the average person performs economically.

Charles Savage, CEO of EasyEquities explained this unique ability, “EasyEquities is a qualified intermediary with the IRS, which simplifies opening a US investment account and lowers the cost of trading US shares. Our EasyFX feature allows Rands to be converted to Dollars within the platform and then used for the purchase of US shares.”

Clients also enjoy a 20% discount on brokerage fees when using the new widget and pay zero data costs when accessing the widget, as Capitec’s app is zero rated for data.

“EasyEquities have made investing accessible to all, through affordable fees, removing the need for minimum investment balances and using digital technology to create a simplified client experience. Their approach is based upon the same principals we have used to challenge the norms of traditional banking, making our partnership with them a perfect fit,” Viviers says.

Savage expressed excitement at the opportunities the partnership would create for South Africans.

 “This partnership is the realisation of a dream for all of us at EasyEquities. To be able to work alongside the Capitec team has been a privilege and we are incredibly excited about what the two teams can do together in making investing simpler for all South Africans.”

South Africa’s Gross Savings Rate is low, measured at just 15.4 % in March 2020 according to CEIC, and it’s a national imperative to encourage South Africans to invest and save as much of their income as possible.

“By giving South Africans easy access to investing we can help shift investment behaviour in the right direction. EasyEquities is perfect for first time investors as it offers a demo account, which can be used to familiarise yourself with the markets you are interested in, before investing actual money.” Viviers added.

Capitec clients are able to access EasyEquities from the latest version of their banking app by clicking the “explore” tab and then navigating to “widgets”.

“Existing EasyEquities clients can easily sign in and link their accounts. New clients can follow the registration process and then start investing,” Viviers said.

Latest Posts

US-Based Investor SixThirty Invest in SA’s InsurTech Firm Click2Sure

SixThirty, US-based tech venture capital fund, is making a big bet on South Africa's InsurTech company Click2Sure. SixThirty is a venture capital fund and...

What Is An Algorithm? How Computers Know What To Do With Data

by Jory Denny The world of computing is full of buzzwords: AI, supercomputers, machine learning, the cloud, quantum computing and more. One word in particular...

MultiChoice South Africa Taps Nyiko Shiburi as New CEO

Nyiko Shiburi has been appointed the new CEO of MultiChoice South Africa (MCSA). Until now, Nyiko has been the Regional Director of MultiChoice Africa:...

Vodacom To Spend R320 Million To Bring Broadband In KwaZulu-Natal

Vodacom will invest just over R320 million into the network across KwaZulu-Natal province during the 2020/2021 financial year. The lion’s share of the capital...

Don't Miss

Political Party Threatens to Shut Down Cell C stores  

The African Democratic Change (ADEC) party has demanded that Cell C shuts its stores today. The demand follows the breakdown of talks between management at Cell C and...

Vodacom To Lock Horns With Lesotho Over Operating Licence

Vodacom and Lesotho government are to lock horns over the mobile operator's operating licence, which has been revoked by small Southern Africa's landlocked country. The...

Liquid Telecom South Africa Embarks on More Retrenchments

Liquid Telecom is embarking on another retrenchment exercise two months after the largest fibre company in Africa announced it was undergoing a “strategic repositioning”. The...

A Shake of a Lifetime Brings One Lucky VodaBucks Winner R500 000 Closer to his Dream Home

Vodacom customer *Mbaa Malolo’s life has changed overnight!  The first lucky recipient of a R500,000 cash injection towards a Dream Home, Malolo didn’t quite...

Avon Launches New Brand Campaign: Watch Me Now

Beauty company Avon has launched a new brand movement, ‘Watch Me Now’ which embraces and celebrates those that have been underestimated and unexpected, reaffirming...

Stay in touch

To be updated with all the latest news, offers and special announcements.

%d bloggers like this: