BEE has not worked, says Capitec CEO

Capitec has been named the Sunday Times Top 100 Company of the Year and its chief executive officer Gerrie Fourie is the Business Leader of the Year.

RELATED: Capitec Bank must OK BEE share sale. '47 000 Transnet pensioners are suffering'

Fourie joins Bongani Bingwa to chat about the company's successes.

For us, it is not about focusing on the output but to focus on the input. Which means, we focus on our strategies and business plans and make certain that we execute on that and I think that is what we have done over the past couple of years.

Gerrie Fourie, CEO - Capitec

He says from the get-go the company focused on four key fundamentals - affordability, accessibility, client service, and simplicity.

Every single person needs to have a dream and a vision about what you believe you can achieve. Even though you have a dream, you need to then have a carefully executed plan.

Gerrie Fourie, CEO - Capitec

Even though conditions are tough for doing business in South Africa, the country is in a better space than it was two years ago, Fourie adds.

I believe that you must spend your energy on positive things. There are still a lot of opportunities in South Africa but you need to identify those opportunities. When your mindset is negative, you are not going to find opportunities.

Gerrie Fourie, CEO - Capitec

He says simplicity is key in any business and that is why it has been working for Capitec.

If you look at BEE in South Africa, unfortunately, it hasn't worked because BEE should be there to help all South Africans and unfortunately it has only helped a few people. I think that is something that we need to work on as South Africans.

Gerrie Fourie, CEO - Capitec

Fourie says if he could give President Cyril Ramaphosa advice, it would be for South Africa to have the same objectives.

Each and every person in South Africa should focus on growing and creating jobs. The second one is to execute, its nice talking about things but the execution is critical. When you execute, you learn and you see what works. Thirdly, is let us be positive.

Gerrie Fourie, CEO - Capitec

Listen below to the full conversation:


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