However Capitec has managed to endure this predicament and since its inception, has emerged as a force to be reckoned with, in a relatively short period of time. Capitec was introduced in the banking industry during a time of crisis, Saambou Bank, which focused in micro lending had collapsed (McNulty, 2009). Capitec Bank on the other hand, focused on the needs of these low income groups, creating a business model that was specifically tailored to their needs. History shows that the South African banking sector has predominately focused on middle to upper class income groups in the market, whilst neglecting the needs and demands of low income groups (Manson, 2012).
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