Early Life and Education
Michiel Le Roux was born on May 20, 1949, in Stellenbosch, South Africa. He matriculated in 1966. He went on to the University of Stellenbosch, where he earned a Bachelor of Commerce and Bachelor of Laws degree in 1972. As a student, he lived at Eendrag.
Career Beginnings
After university, Le Roux began his career at Distillers Corporation, Anton Rupert's Stellenbosch-based liquor company, where he rose to managing director. In 1994, he was recruited by Christo Wiese to serve as managing director of Boland Bank. However, he resigned around 1998 under acrimonious circumstances.
Rise to Success: Founding Capitec Bank
Viewing Boland Bank's approach as "archaic," Le Roux became interested in new banking business models. He secured the financial banking of the PSG Group and, in 2000, recruited much of Boland Bank's senior management to join the new bank. In 2001, Le Roux co-founded Capitec Bank with Jannie Mouton and Riaan Stassen, targeting South Africa's underserved markets. The bank was launched in 2001, initially called Daxacom, and it listed on the Johannesburg Stock Exchange as Capitec Bank Holdings on February 18, 2002. Le Roux served as the inaugural CEO until 2004, and as chairman of the board from 2007 to 2016. As of 2024, he retained a board seat and 11% of the bank's shares.
Philanthropy
Le Roux has been the largest single reported donor to the Democratic Alliance (DA), typically through his private companies, Fynbos Ekwiteit and Fynbos Kapitaal. Between 2021 and 2023, he donated over R50 million to the party.
