Purple Group CEO Charles Savage joins Kaya Biz to unpack how resilient South African retail investors pushed EasyEquities past 1.3 million customers and R107 billion in assets, while sharing ambitious plans for AI adoption and expansion into Kenya.
By Zuko Komisa
A decade ago, EasyEquities set out to democratise investing in South Africa.
Today, its parent company, Purple Group, sits at the heart of the country’s retail investing ecosystem, proving that everyday South Africans remain committed to building wealth despite tough economic conditions.
Speaking on Kaya 959’s Kaya Biz with Gugulethu Mfuphi, Purple Group CEO Charles Savage unpacked the group’s latest results, which saw headline earnings per share rise by 27.3%.
While percentage growth moderated as the company scales off a much larger base, the retail division did the heavy lifting, driving 74% of overall results despite a sluggish crypto market and stagnant interest rates.
Retail deposits jumped 51% to R16.8 billion, and EasyEquities now serves over 1.3 million active customers holding more than R107 billion in assets.
Customers currently deposit R150 million every three days matching the platform’s entire first-year total twelve years ago.
‘At the end of all of that was a retail customer who just pitched up in really tough market conditions, and they deserve a round of applause,’ Savage said.
‘They were the ones on which these results stood.’
Growth was further bolstered by booming institutional partnerships with Capitec and Discovery both doubling their contributions year-on-year alongside a recent Absa integration, grassroots financial education, and the Thrive loyalty programme.
Looking abroad, Purple Group is preparing to enter Kenya’s competitive fintech market within weeks while navigating regulatory trials in the Philippines.
‘Your biggest asset in investing is time, and the biggest friction is knowledge and understanding,’ Savage noted.
‘So long as you focus on the youth and ensure that you provide the right access platform and education, you can scale this business anywhere.’
Locally, a lean five person team using advanced technology manages 11 actively managed ETFs worth nearly R3 billion under EasyAssetManagement, with roughly seven new listings planned annually.
Looking ahead, artificial intelligence will be the group’s primary focus.
‘I think the thing that will be a standout in the year ahead is the delivery of AI services, not just to our customers, but internally in the group,’ Savage concluded.
‘That’s going to force us to rethink and restructure how we work, while at the same time delivering products and services that make investing even easier for South Africans.’
Listen to the podcast for the full conversation. Kaya 959 podcasts are available to download.
READ NEXT:
