Capitec Bank announced its investment in Cream Finance Holding, a European online consumer loans company.
The South African based bank has purchased a 40% stake in digital finance company, Creamfinance, for €21 million.
Gerrie Fourie, Capitec CEO says they see this as an opportunity to learn how international markets operate.
He says the Creamfinace is where Capitec was in 2001 and they believe they will be able to help this small company grow their business.
We always said that Capitec had big aspirations to go outside...— Gerrie Fourie, Capitec CEO