Blu Label says MTN is coming for its Capitec business
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MTN's push to sell airtime directly to South African banks rather than through third-party distributors mainly threatens Blu Label's Capitec relationship, according to Blu Label co-CEO Brett Levy. He argues MTN gains little margin from going direct as the market shifts toward generic vouchers usable across all four networks, a trend reflected in Blu Label's 22% growth in universal voucher revenue (R15.3bn to R18.7bn) for the year to 31 May. Levy also frames banks and mobile operators as increasingly direct competitors, both chasing the same banking and payments customers, with MTN's MoMo and Vodacom's VodaPay competing for banking market share.
