It’s all about skills, and we must act now, says Capitec chief

Business

It’s all about skills, and we must act now, says Capitec chief

State needs to implement a growth plan, while fixing education is vital to fill tech jobs, says Gerrie Fourie

Warren Thompson

The head of Capitec, which has grown to be the country’s third most valuable bank just 18 years after it was founded, has joined a growing list of business leaders calling on President Cyril Ramaphosa to accelerate the pace of reforms to lift the moribund economy.

Speaking after the release of the company’s interim earnings, chief executive Gerrie Fourie, whose company is adding workers while some peers are retrenching, said he was still optimistic about the country’s prospects, although the government needed to move faster to boost an economy that is being strangled by less than 1% growth and a 29% unemployment rate.

The country’s long-term prospects would depend on its ability to fix the education system and produce workers with the skills required in a modern, technology-based economy...

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