Best of Kaya Biz: Capitec hits 25 million customers mark, Eskom’s comeback and TikTok’s ownership crisis

From Capitec’s record growth to Eskom’s shocking profit and TikTok’s power battle — here’s what made headlines on Kaya Biz this week.

This week on Kaya Biz, the show was steered by the phenomenal Nzinga Qunta, standing in for Gugulethu Mfuphi.

We wrapped up September with two of the country’s most-watched names making waves.

Capitec Bank posted a 26% surge in half-year profit, crossing the 25 million customer mark for the first time. We caught up with Graham Lee, the bank’s newly appointed CEO, who spoke about Capitec’s focus on deepening relationships across income brackets and maintaining its reputation for simplicity in a market increasingly defined by digital disruption. With a return on equity of 31% and reduced transaction costs for customers, the bank continues to prove that growth and affordability can coexist, even in a strained economy.

However, the real shock of the week came from Eskom. For the first time in eight years, the state-owned utility reported profitability. The utility swung from a R55 billion loss to a R16 billion profit, driven by cost containment, lower diesel use, and higher tariffs.

We also dived into the TikTok ownership controversy, as American investors tighten their grip on the platform’s U.S. operations. With questions swirling around data privacy, national security, and control of digital influence, we asked whether the deal really fixes TikTok’s trust problem or just reshuffles who holds power behind the app that defines a generation.

Here are the week’s standout stories:

1. Eskom back in the black — R16 billion profit marks a rare turnaround

Guest: Dan Marokane – Eskom Group Chief Executive

After eight years of losses, Eskom’s full-year results shocked markets: a R16 billion profit after tax for the year ending March 2025, reversing a R55 billion loss the year before. Improved plant performance, lower primary energy costs, and reduced reliance on diesel-powered turbines drove the turnaround.

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2. Capitec hits 25 million clients and delivers a 26% profit surge

Guest: Graham Lee – CEO, Capitec Bank

Capitec Bank’s half-year results show why it’s now South Africa’s largest retail bank by customers. Headline earnings rose 26% to R8 billion, and the bank reduced transaction fees for clients by R203 million. Capitec’s new CEO, Graham Lee, told KayaBiz the focus is on technology, affordability, and sustainable growth across income brackets.

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3. Decoding the TikTok ownership controversy: Does it matters who owns the platform?

Guest: Jan Vermeulen – Editor, MyBroadband

TikTok’s ownership has become a global flashpoint. With new U.S. investors coming on board, the platform’s governance could shift — but so could its accountability. We unpacked the origins of the dispute, why regulators and lawmakers are still uneasy, and how the deal might redefine the social media landscape.

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4. Financial stress and mental health – The invisible burden of money worries.

Guest: Dr Marion Borcherds – Senior Manager & Head of Well-being, AfroCentric

As Mental Health Awareness Month continues, Sanlam’s Age of Confidence campaign paints a stark picture: most South Africans will need to work until 80 to retire comfortably, and nearly half have already dipped into emergency savings. Dr Borcherds explained how financial strain undermines mental resilience — and why money stress has become a national wellbeing crisis.

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5. Inside South Africa’s R900 billion township economy

Guest: Mongezi Mtati – Senior Brand Strategist, Rogerwilco & Township CX Report Lead

Township consumers are no longer the “informal economy”, they’re the heartbeat of South African retail, with R900 billion in annual spending power. The latest Township CX Report shows how resilience, innovation, and cultural influence are reshaping the business landscape. Mtati shared insights on what brands get wrong — and how to get it right.

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