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CAPITEC: CONNECT MVNO MOBILE NETWORK TOPS ALL OTHERS

- Moneyweb

In the roughly three years since Capitec launched its Capitec Connect mobile virtual network operator (MVNO), which piggybacks on Cell C, its number of active subscribers has soared to 1.6 million, making it comfortably the largest MVNO in the country.

That subscriber number came close to doubling between February 2024 and February 2025 (950,000 to 1.64 million, an increase of 74%).

Prior to Capitec Connect's entry, FNB Connect, which is one of the original MVNOs in South Africa, was the largest, with an active base of "just under" one million. It is believed this is somewhere between 800,000 and 900,000.

During the last 12 months, Capitec generated R193 million in net income from its MVNO, an increase of 450% on the prior year as the business started achieving scale.

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