Capital Appreciation’s Bradley Sacks on COVID-19 impact on business

Capital Appreciation, a leading JSE fintech player, has reported a significant surge in revenue and profits despite the challenges posed by the COVID-19 pandemic. The company recently announced a raise in its final dividend by over 17 per cent, reflecting its strong financial performance in the face of global economic uncertainty. Bradley Sacks, Joint CEO at Capital Appreciation, highlighted the company's resilient business model and the increased demand for its digital and cloud-based services during a recent interview on CNBC Africa. Sacks credited the company's success to its ability to provide essential technology-based solutions to its primary client base, which includes large financial institutions in the banking and retail sectors. He mentioned that while the financial results were for the period ending in March, before the full impact of the coronavirus pandemic was felt globally, the company has continued to perform well in the last few months. Sacks emphasized that the company had been able to secure new mandates and demonstrate the relevance of its services to clients during the challenging period. The fintech industry, particularly companies in the telecommunications space, has been well-positioned to benefit from the accelerated growth in the gig economy brought about by the pandemic, with more activities being conducted remotely. Discussing the company's approach to handling the resumption of work in the office, Sacks mentioned that Capital Appreciation had planned for the COVID-19 lockdown early on, enabling the vast majority of staff to work remotely. Essential staff who needed to be on-site during the lockdown were provided with necessary protective gear and strict protocols were implemented to ensure their safety and well-being. The company placed a strong emphasis on mental health and engagement initiatives to keep remote workers connected and motivated during the challenging period. While some businesses have started reopening offices with the transition to level three restrictions, Capital Appreciation has chosen to keep its offices closed for the time being to prioritize employee health and safety. Sacks underscored the company's commitment to maintaining a safe work environment for all employees and indicated that they would continue to assess the situation before fully reopening their offices. Despite the ongoing uncertainty and economic disruptions caused by the pandemic, Capital Appreciation's resilience and adaptability have positioned the company for continued success in the fintech sector. The company's ability to offer essential technology solutions and its proactive approach to employee well-being have been instrumental in navigating the challenges presented by the current business environment.