The Finance Ghost Plugged in with Capitec

Capitec understands the challenges faced by entrepreneurs. Throughout this season of The Finance Ghost Plugged in with Capitec, we’ve explored how affordable transactional banking and access to finance can help business owners grow. 

But how does it all come together? And how did Capitec make such a strong impact on the business banking scene so quickly? 

In episode 8, we reflect on the acquisition of Mercantile Bank just before COVID hit – and how Capitec's innovative approach helped shape the products, systems and client experience that followed.  

This is The Finance Ghost in conversation with Karl Kumbier (Executive for Business Bank), Amrei Botha (Executive of Client Experience Delivery) and Sicelo Mkhize (Head of Distribution).

Episode 8 covers:

Why understanding SME challenges is the starting point for better products and solutions –  including Capitec's simple, transparent pricing structure 

The systems architecture of Capitec Business and why it was built to stand alongside the rest of our business 

How the pandemic shaped Capitec's blend of digital innovation and personal support in the business centres 

The rapid growth from 30 000 to 85 000 clients in just one year – and why individual clients still matter 

Chapters

(00:00:00) - Finance Ghost
(00:01:24) - Capitec's'simply the bank'
(00:02:07) - The Future of Capitec in SA
(00:04:47) - Buy Rather Than Build: Capitec's Business Banking
(00:07:22) - How Capitec Went From Afresh to SMEs
(00:08:54) - Capitec's Sixto Susello's story
(00:10:23) - An Evolving Capitec
(00:12:38) - A New Business Bank at Capitec
(00:14:53) - The 4 fundamentals of Capitex Business Banking
(00:17:04) - What Made Capitec Bank So Interesting
(00:20:01) - Capitex Bank: No Silos
(00:21:41) - Onboarding the Capitec Bank
(00:25:28) - How Business Banking has simplified for our clients
(00:28:32) - The Credit Card Innovation at Capitec
(00:30:40) - How Citigroup's Relationship Suite has empowered its bankers
(00:33:33) - Citi Business Center and the Relationship Suite
(00:41:10) - Capitec Business Banking: Pricing
(00:45:05) - Capitec Business Banking: Growing, Profits
(00:47:30) - Clients' stories
(00:49:59) - Multiple stories from the townships
(00:50:57) - MR: Future of Business Banking
(00:52:37) - Podcast

Priscilla Msimanga made the leap that so many dream of, yet few are willing to make: leaving a big corporate role and shifting into the grinding world of entrepreneurship. To add to the intrigue, she bought a Shell forecourt and stepped into specialist retail. 

From managing staff to complying with petroleum regulations, the learning curve was steep. Drawing on her corporate experience, her love of sales and her passion for service, Priscilla rolled up her sleeves and did everything – from pumping fuel to serving food. 

And yes, that means there’s a food truck to go with this great story! 

On episode 7 of The Finance Ghost Plugged in with Capitec, Priscilla tells us more about her leap from corporate life to entrepreneurship.  

Episode 7 covers:

Her corporate background and why she wanted to do something of her own 

How she prepared before leaving corporate 

Finding the right forecourt to buy 

The retail strategy of a forecourt and adapting to local consumer tastes 

Why hands-on involvement matters for success 

An honest look at the short-term financial impact of leaving corporate and starting a business 

Chapters

(00:00:00) - How to start a business in South Africa
(00:01:28) - Going From Corporate to Entrepreneur
(00:05:06) - Making the decision to leave corporate life
(00:07:54) - How to start a petrol station from scratch in South Africa
(00:13:22) - What was the biggest challenge in running a petrol station?
(00:19:38) - How to start a business in Nigeria
(00:22:51) - Inside the Food Truck
(00:24:49) - How does a fuel shop make money?
(00:29:16) - Startup Money: How do you balance your finances?
(00:33:37) - Dancing Off The Corporate Runway
(00:36:03) - The Alchemist

Lu-ise Hattingh and Ruan Botha are a great example of the power and value of travel. After spending time in Japan, they fell in love with the culture and food. As all great entrepreneurs do, they also took the opportunity to learn about the Japanese approach to consumer brands. That curiosity eventually sparked a business idea they brought back home.

Today, Lu-ise and Ruan are rolling out Market Kokoro franchise stores in South Africa and especially the Western Cape, tapping into the existing Market Kokoro infrastructure in South Africa and adding their particular flavour of experiential retail. If you love the thought of cooking your off-the-shelf noodles in the store, then Market Kokoro is for you.

In bringing miso to Mzansi, one of the biggest insights is about the importance of meeting customers where they are, both in terms of tastes and locations.

On episode 6 of The Finance Ghost Plugged in with Capitec, Lu-ise and Ruan share the journey behind building a cross-cultural brand.

Episode 6 covers:

How travelling sparked the idea for Market Kokoro – and how this married couple turned a dream to bring this culture and food back home into a working business

Why their unique mix of skills (Ruan as an attorney and Lu-ise with a background in film and hospitality) lead to success

The background to Market Kokoro in South Africa and their involvement with the business

What makes the retail landscape in Cape Town different from Johannesburg – and how they adapt to each

Why additional sources of income are crucial while getting a business off the ground

The benefit of tapping into governmental organisations to help launch in a specific city

The consumer licensing opportunity in South Africa and how Japan’s model inspired their approach

 

Chapters

(00:00:00) - Businesses in South Africa
(00:00:32) - Market Kokoro
(00:01:28) - A Taste of Japan
(00:05:04) - Jetro
(00:05:41) - This Chinese Couple Captured Her To Japan The First Time
(00:06:40) - How to get out of your legal rut
(00:08:30) - Mixing Acting and Retail
(00:12:38) - How to Win Your Love Life
(00:13:17) - 7 Pro Tips for Being in Business Together With Your Wife
(00:16:59) - When You Set Up Your Love Shop
(00:17:36) - A Taste of Market Kokoro in South Africa
(00:18:48) - Market Kokoro South Africa
(00:24:29) - On Working Full-Time
(00:26:15) - Starting a Business: The Secret to Success
(00:27:36) - How to start a business in South Africa
(00:29:34) - Cape Town vs Joburg: The retail environment
(00:33:38) - Interview
(00:34:26) - West Grow: Our support for business in Cape Town and Joburg
(00:37:43) - North Africa's consumer product licensing culture
(00:38:57) - Economist
(00:41:03) - Anime and Pop Culture in South Africa
(00:44:45) - Podcaster: Can Capitec Help My Business?
(00:47:03) - Interview

Ricky Ruthenberg has truly taken a ground-up approach to his career. Adapting to opportunities as they present themselves is clearly a powerful skill. From waiting tables at Col’Cacchio to helping launch the first Bootlegger in Sea Point, he’s gone on to build the team that runs a national chain of nearly 100 Bootlegger restaurants.

From espresso to enterprise, this is the story of building something from nothing. Hard work, perseverance and self-belief are the ingredients in this delicious recipe.

On episode 5 of The Finance Ghost Plugged in with Capitec, Ricky talks about what it takes to grow a local brand into a national success story.

Episode 5 covers:

The hard work required when opening a restaurant and why owner involvement is critical in the early days

Building the Bootlegger brand and overcoming challenges along the way

Why the group runs a mix of corporate-owned and franchise stores and how that creates opportunity

The pros and cons of having master franchisees vs many individual franchisees

How the retail store model helps drive brand awareness and loyalty

How his role has evolved from cooking and closing up the first store to leading a national team as CEO

Managing coffee price volatility and the strategies behind it

How the Bootlegger survived COVID and thrived afterwards

The value of Capitec as a franchise funding partner

 

Chapters

(00:00:00) - Bootlegger's Success Story
(00:01:09) - Which keeps you up more at night? Strong coffee or a newborn
(00:01:44) - Coffee Bootleg
(00:04:29) - Bootlegger's story on becoming an Equity Partner
(00:06:41) - Bootlegger Coffee Co.
(00:08:28) - Bootlegger's secret to success
(00:10:16) - Peter and Ricky Bloom on Their Early Years
(00:12:00) - The Coffee Chain's philosophy
(00:15:02) - Bootleggers Coffee: A National Brand
(00:17:12) - Keurig Coffee: Going Mainstream with Retail Stores
(00:20:09) - When I was CEO, my role changed
(00:24:31) - How Hard Do You Work In the Morning?
(00:24:55) - Bootlegger's hybrid franchise model
(00:29:49) - How to start a business with multiple stores
(00:31:47) - Input costs in the coffee business
(00:35:46) - Bootlegger's story of survival during the Covid Pandemic
(00:38:46) - Franchise Banking: Capitec Funding
(00:40:38) - What Keeps You Motivated?
(00:42:17) - Support Your Local Bootlegger

Hugh Cunningham is as passionate about customer service and product assortment as he is about medicine. As the co-owner of The Local Choice Pharmacy Harmelia, Hugh focuses on business management, while his wife and co-founder Yolandi ensures the dispensary runs smoothly. 

On episode 4 of The Finance Ghost Plugged in with Capitec, Hugh shares excellent insights on specialist retail and how pharmacies really work.

Episode 4 covers:

Why separation of duties and having a clear decision-maker is critical

The importance of doing proper financial analytics in any business

How pharmacies make money and the differences between independent and corporate pharmacy models

The benefits of being part of a franchise network

The future of the pharmacy industry and how independent pharmacies can stay competitive  

Chapters

(00:00:00) - The Finance Ghost
(00:00:45) - Pharmacist Business Podcast
(00:01:18) - Married to a Pharmacist
(00:08:26) - Exploring the pharmacy business with Discim
(00:09:19) - Local Choice Pharmacy
(00:14:16) - Front Shop Pharmacy vs. dispensary
(00:17:19) - What is the restriction on sales in the front shop?
(00:18:56) - Risks of disruption to the retail pharmacy market
(00:24:08) - Medical Aid and working capital
(00:27:51) - How Hard Is It to Get a New Pharmacy License?
(00:29:47) - What's Your Biggest Mistake?
(00:30:51) - Interview
(00:31:57) - Thanks to Capitec Business Bank