About Us
Capital Appreciation is focused on investing in and growing businesses that deliver compelling, innovative and disruptive solutions to our Financial Institution and other clients, allowing them to develop and introduce new products, deliver value to their customers, improve efficiency and control, and eliminate unnecessary operating costs.

We provide a platform for growth.
Fintech is a classification used to describe innovative and transformative technologies disrupting traditional banking and financial services.

These changes are extremely evident in the payment sector, affecting, inter alia, relationships between financial institutions and their consumer clients, financial institutions and their corporate retailer clients, retailers and their consumer customers, and among consumers themselves.

There are also increasing requirements for financial institutions to enhance regulatory compliance while simultaneously reducing their costs of delivery.

These are huge market forces, the consequences of which are visible in the economy as a whole. These forces are expected to intensify and the changes they precipitate expected to accelerate.

Traditional financial and banking institutions are rapidly embracing the idea of Fintech recognising that Fintech presents an opportunity to improve efficiency, reduce cost, enhance customer experience and drive revenue and that their businesses are otherwise vulnerable as the digital economy changes customer behaviour.
2015
October 2015
Capital Appreciation listed as a Special Purpose Acquisition Company ("SPAC") on the Main Board of the JSE and raised R1 billion through a private placement of shares.
2017
May 2017
Capital Appreciation acquired 100% of African Resonance, Dashpay and Synthesis Software Technologies, as well as a 17.45% interest in Resonance Australia. Migrated to Technology: Software and Computer Services sector on the JSE. Maiden dividend declared in November 2017.
2019
May 2019
Agreement concluded for Newland technology payment devices.
2020
March 2020
Acquired intellectual property rights of platforms previously used under licence.
2021
January 2021
Invested in and acquired 26.5% in LayUp with the ability and right to increase our ownership interest over time.
2021
March 2021
New partnerships established, launch of Halo Dot, launched robust Android platform for payments and increased scale and reach of underlying businesses.
  • Michael Pimstein
    Joint Chief Executive
  • Bradley Sacks
    Joint Chief Executive
  • Alan Salomon
    Chief Financial Officer
  • Bukelwa Bulo
    Independent Director
  • Jacob Meyer Kahn
    Lead Independent Director
  • Michael (Motty) Sacks
    Non-Executive Chairman
  • Victor Sekese
    Independent Director
  • Charles Valkin
    Independent Director
  • Kuseni Dlamini
    Independent Director
  • Errol Kruger
    Independent Director
  • Rorisang (Roxy) Maqache
    Non-Independent Director
  • Michael Shapiro
    Executive Director
Since its founding, Capital Appreciation has been focused on Broad-Based Black Economic Empowerment. The profile of its founding shareholders reflects this focus.
  • The Public Investment Corporation (PIC)
    The PIC was established in 1911 and is one of the largest investment managers in Africa today. The PIC holds 25.45% (333.3 million shares) of Capital Appreciation.
  • The Capital Appreciation Empowerment Trust (CAET)
    The CAET is a trust specifically created for the recognition and benefit of black individuals and other historically disadvantaged South Africans. The CAET holds 5.73% (75 million shares) of Capital Appreciation.
  • Ownership
    Capital Appreciation has a proud heritage with a B-BBEE shareholding representing economic interests of 30.49% and voting rights of 43.63%.
As of 31 March 2021, Capital Appreciation was determined to be a Level 4 Contributor under the newly amended B-BBEE ICT Sector Code. This reflects a continued improvement in the Group's B-BBEE rating since the date of listing.

Broad-based BEE will continue to be a focus for Capital Appreciation, not only in our shareholding but also in (i) career development and skills training for our team (management and others), (ii) the nature of the products and services our companies deliver (e.g. financial inclusion initiatives), (iii) our own procurement strategies, and (iv) social development and investment initiatives we undertake.

Broad-Based Black Economic Empowerment Act (The Act): Annual Compliance Report

B-BBEE Commission Compliance Report