About Us
Capital Appreciation is a financial technology company that seeks to serve and partner with established and emerging financial institutions and other clients. The Company facilitates the provision of financial services technology platforms and delivers contemporary and innovative technologies and solutions.

Capital Appreciation is focused on investing in and growing businesses that deliver compelling, innovative and disruptive solutions to financial institutions and other clients, allowing them to develop and introduce new products, deliver value to their customers and improve efficiency, while controlling and eliminating 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.
2023
July 2023
Acquired Dariel group.
2022
March 2022
Acquired the Responsive technology group.
May 2022
Subscribed for 20% of the shares in Regal Digital, a FinTech company located in the Netherlands.
2021
January 2021
Invested in and acquired 27.4% in LayUp with the ability and right to increase ownership interest over time.
March 2021
Launched Halo Dot, a robust platform for payment acquiring on Android devices.
June 2021
International division established in Amsterdam, Netherlands.
2019
May 2019
Agreement concluded for exclusive distribution of Newland technology payment devices.
September 2019
Acquired intellectual property rights of platforms previously used under license, and sold 17.45% in Resonance Australia.
2017
May 2017
Acquired 100% of African Resonance, Dashpay and Synthesis Software Technologies, as well as a 17.45% interest in Resonance Australia. Migrated to Software and Computer Services sector on the JSE.
November 2017
Maiden dividend declared.
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.
  • Michael Pimstein
    Executive Chairman
  • Bradley Sacks
    Chief Executive Officer
  • Alan Salomon
    Chief Financial Officer
  • Michael Shapiro
    Head of Software Division
  • Kuseni Dlamini
    Lead Independent Non-Executive Director
  • Bukelwa Bulo
    Independent Non-Executive Director
  • Errol Kruger
    Independent Non-Executive Director
  • Rorisang (Roxy) Maqache
    Non-Executive Director
  • Victor Sekese
    Independent Non-Executive Director
  • Amanda Dambuza
    Independent Non-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 26.41% (345.9 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 32.28% and voting rights of 40.69%.
The underlying businesses have obtained separate and independent B-BBEE certification and, as of 31 March 2023, those are as follows:
  • Capital Appreciation Limited (consolidated Group) – Level 2
  • Synthesis – Level 1
  • African Resonance – Level 2
  • Dashpay – Level 2
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 Revised B-BBEE Verification Certificate 30 June 2023
The Capital Appreciation Group recognises the impact that our activities may have on society and the natural environment. We are committed to managing our operations ethically, while striking an appropriate balance between economic, social and environmental needs. Capital Appreciation has a strong commitment to contributing to the socio-economic prosperity and the transformation of the communities within which we operate, to maintaining an attractive employee proposition to attract and retain highly skilled people and to anage and reduce its already low environmental impact.

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