Michiel Le Roux, a leading South African banker and billionaire businessman, has left an indelible mark on the African banking landscape through his role as a non-executive director and co-founder of Capitec Bank.
In 2001, he co-founded Capitec Bank alongside key businessmen Jannie Mouton and Riaan Stassen. Under his leadership, the bank has gained a strong reputation for its transactional banking and loan products, becoming one of the world’s most esteemed retail banking brands within just 20 years.
As the holder of an 11.39-percent ownership stake in Capitec Bank, comprising 13,190,043 ordinary shares, Le Roux is among the continent’s richest individuals. According to Forbes, his fortune of $1.1 billion is derived from this stake, ranking him as one of South Africa’s wealthiest billionaires and the 2,523rd richest man in the world.
Before founding Capitec Bank, le Roux successfully ran Boland Bank, a small regional bank in Cape Town’s hinterland. His extensive experience and expertise in the banking industry played a crucial role in shaping Capitec’s success. He served as chairman of the board from 2007 to 2016 and continues to be an active board member.
Beyond his business endeavors, Le Roux is actively involved in philanthropy, positively impacting communities and uplifting the middle class while making significant strides in the banking sector. His vision, innovation, and social impact make him a driving force for change and a role model for aspiring entrepreneurs in South Africa.
Billionaires.Africa has identified and cataloged various companies and holdings associated with Le Roux. Here are five such companies and entities, with some presently operating as subsidiaries under different names:
- Capitec Bank: Founded in 2001, Capitec Bank, led by Le Roux, has established itself as a highly esteemed retail banking brand, renowned for its transactional banking and loan offerings. Operating an extensive network of 856 branches and 7,436 ATMs throughout South Africa, Capitec Bank proudly maintains one of Africa’s most extensive customer bases in the financial services industry. Le Roux holds a noteworthy 11.39-percent ownership stake in Capitec Bank, which amounts to 13,190,043 ordinary shares in the institution. This stake accounts for the majority of his $1.1-billion fortune.
- Boland Bank: Based in the suburbs of Cape Town, Boland Bank Holdings Limited is a registered bank offering a comprehensive array of banking and financial services. During his tenure as CEO from 1995 to 1997, he led the modest regional bank with skill for a four-year period. Boland Bank’s remarkable growth was evident when it merged with NBS in 1998, followed by BoE Holdings Limited in 1999, Nedcor in 2002, and ultimately with NedBank in 2004, under his astute leadership.
- Zeder Investments: Founded in 2006, Zeder Investments Limited is a Stellenbosch-based investment company that specializes in acquiring shares in companies operating in the agricultural and food-processing sectors. Le Roux served as a Board Director for Zeder Investments until his resignation in June 2014.
- Capital Alliance Holdings Limited: Capital Alliance Holdings is a subsidiary of Capitec Bank, based in Stellenbosch, South Africa. It provides insurance products, including group and individual life assurance, funeral benefits, and pension services. Le Roux, the founder, served as CEO, non-executive chair, and Director from 2001 to 2004.
- South African Trust Fund: The Southern Africa Trust provides grants to civil society organizations representing the poor through regional policy development.