Early Life
Michiel Le Roux was born on May 20, 1949, in Stellenbosch, South Africa. He attended Paul Roos Gymnasium and excelled academically, showing early leadership qualities. He pursued a degree in law at Stellenbosch University, where he also developed an interest in economics and business. Though he obtained his law degree, his passion drew him to the world of finance and entrepreneurship.
Rise to Success
After graduating, Le Roux began his career in the liquor industry at Distillers Corporation, eventually becoming its managing director. In 1994, he became the managing director of Boland Bank. Recognizing the need for a new banking model, he co-founded Capitec Bank in 2001 along with Jannie Mouton and Riaan Stassen. Capitec Bank was listed on the Johannesburg Stock Exchange on February 18, 2002.
Key Business Strategies
Capitec Bank targeted the underserved middle class with a low-cost banking model built on transparency and simplicity, which allowed Capitec to gain ground quickly. Le Roux's focus on financial education helped Capitec stay ahead. They launched various initiatives aimed at educating South Africans about personal finance.
Philanthropy
Le Roux founded the Millennium Trust in 2010. This non-profit organization has provided support to various media and civil society organizations including amaBhungane and Corruption Watch.
