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I am not guilty, says ex-Capitec worker

Cape Town - One of the founders of Capitec bank holdings [JSE:CPI] was "shocked" by the resignation of a senior manager to join competitor, African Bank, the Bellville Commercial Crime Court in Cape Town heard on Monday.

Former Capitec manager, Faick Davids, pleaded not guilty before magistrate Sabrina Sonnenberg to charges of fraud and violations of the Electronic Communications and Transactions Act (ECTA).

On both charges, prosecutor Derek Vogel alleges that Davids fraudulently obtained crucial Capitec electronic information to take with him to African Bank, in contravention of the ECTA.

Chartered accountant Andre Olivier told the court both he and Davids had previously held senior posts with the former Boland Bank, which was taken over first by the board of executives and then by Nedbank, during the bank crisis of a decade ago.

Olivier said he joined Capitec, which at the time was a small business focused on micro loans for the purchase of cars and, as an accountant, and had built it up to what it was today.

In the process, he specially recruited Davids in 2001 for his expertise and energy levels, for liaising with branches and the training of staff.

In June 2001, he personally appointed Davids as project manager, and later promoted him to the newly created post of head of distribution.

"When I joined Capitec, it focused on savings and loans, but had no banking systems or procedures," said Olivier.

"Davids reported to me directly, and was in charge of implementing new procedures at the branches.

"Davids was a key individual with a bright future with Capitec, and was the first person on his level to be promoted to management committee level, a committee that ran the bank from day to day."

In October 2009, Davids informed Olivier that he had been offered a post at African Bank.

"I was shocked"

Olivier added: "I was shocked, because Davids was a key person, and not someone whom we wanted to lose, especially to a competitor.

"I spent long hours on a Friday trying to persuade him to stay. I needed to know what he needed to stay with Capitec. I kept telling him he was making a grave mistake.

"He said he needed the weekend to think about our discussion, but that Monday he told me he had decided to go, and that he did not want to talk about it anymore."

Olivier said Capitec's policy was to insist that staff joining a competitor leave the premises forthwith, without first working a month's notice.

He informed Davids that he had to vacate his office by the end of the day, and at 18:00 Davids handed in his laptop, which was Capitec property.

Olivier said Davids had signed a contract and other documentation on joining Capitec, which made it clear that he was not allowed to convey any information pertaining to Capitec to anyone outside the company.

Olivier said he was given permission by the company's IT department to access Davids' e-mail inbox.

The prosecutor was about to question him about the contents of the inbox, when defence counsel Yvette Isaacs objected, on the grounds that Davids himself had not given permission for Olivier to access his e-mails.

What Olivier had done was illegal, and a violation of Davids's constitutional rights, she said.

The case continues.


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