Capitec has released its results for the financial year ended 28 February 2023 and claimed in its annual report that its mobile virtual network operator “arguably” has the cheapest data on the market.
“The cost per unit of data, voice or SMS remains the same — whether a client buys a little or a lot,” stated Capitec. We compared Capitec’s prices to prominent MVNO Afrihost Air Mobile, and Shoprite’s aggressively-priced K’nect Mobile service. We also included South Africa’s major mobile network operators: MTN, Vodacom, Telkom, and Cell C.
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Capitec’s impairments almost double even as earnings rise 15%Group’s total net credit impairment charges on gross loans and advances surge by 80% This is definitely driven by IFRS 9 and the methodology approach in the application application of the standard. Without even looking their financial statements, you can just pick up that the huge driver of deferred tax asset is definitely going to be impairment instruments
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