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Michiel le Roux

Banker and company founder

By South African Index Editorial Desk · Published · Updated · Last reviewed

Portrait of Michiel le Roux.
Portrait: Business Day / Gallo Images · Source. Displayed from the linked source.

Michiel le Roux was Capitec Bank’s founding chief executive and later its chairman. Capitec records show that he led the bank until 2004 and remained closely involved at board level thereafter. [1][2]

Biography

Le Roux was part of the team that created Capitec Bank at the beginning of the 2000s. A Capitec annual report describes the bank as founded in 2001 and places him at the centre of its earliest executive leadership. [1]

Capitec’s 2019 integrated annual report records that Le Roux served as chief executive until 2004. He subsequently chaired both Capitec and Capitec Bank from 2007 until May 2016. [2]

His role differs from that of Riaan Stassen, who became the key operating leader of the next phase. The bank’s own records support describing Le Roux as founding chief executive while crediting Stassen separately for shaping Capitec’s later operating model and growth. [2][3]

Le Roux held 11.32% of Capitec Limited’s beneficial equity at 28 February 2026. This did not make him the chief executive. [5]

His current equity position is separate from his earlier founding chief executive and chairmanship roles. [4][5]

Key contributions

Served as Capitec Bank’s founding chief executive during the establishment of the retail bank. [1][2]

Later chaired the group and remained a non-executive director after leaving the chair. [2]

Life and career timeline

  1. Capitec Bank entered its first year as a bank with Le Roux in its early executive leadership. [1]

  2. Ended his term as chief executive. [2]

  3. Served as chairman of Capitec and Capitec Bank. [2]

Related people

  • Jannie Mouton — South African investor who co-founded PSG Group and supplied early backing to Capitec.
  • Gerrie Fourie — South African banker who served as Capitec group chief executive from January 2014 to July 2025.
  • Graham Lee — South African banker who became Capitec group chief executive on 19 July 2025.

Related institutions and movements

  • PSG Group — South African investment group co-founded by Jannie Mouton that supplied early capital and strategic support to Capitec.

Associated organisations

Related research

Sources

  1. Capitec Bank Holdings, Annual Report 2008, 2008-02-29. Original source. Accessed 2026-09-25. ↩
  2. Capitec Bank Holdings, Integrated Annual Report 2019, 2019-02-28. Original source. Accessed 2026-09-25. ↩
  3. Capitec Bank Holdings, Integrated Annual Report 2010, 2010-02-28. Original source. Accessed 2026-09-25. ↩
  4. Capitec Bank Holdings, Annual report 2008, 2008-02-29. Original source. Accessed 2026-10-29. ↩
  5. Capitec Bank Holdings, Integrated annual report 2026, 2026-02-28. Original source. Accessed 2026-10-29. ↩