Michiel Le Roux Capitec Bank South African Millionaire

Net Worth $290 Million Source of Wealth banking Age 62 Marital Status Married Country South Africa

Michiel Le Roux has taken the South African banking sector by storm, offering cheap transactional banking for the emerging middle class through Capitec Bank, which he founded in 2001 and still chairs. The bank has 474 branches and 3.2 million clients, not far behind that of Nedbank, the smallest of South Africa's four universal banks. He previously ran Boland Bank, a small regional bank in Cape Town's hinterland. Michiel is Chairman of Capitec Bank Holdings Ltd. He is the founder of the Group and was Chief Executive Officer of the bank until 2004. Michiel is a director of Zeder Investments. He was Managing Director of Distillers Corporation (SA) from 1979 to 1993, and from 1995 to 1998, Managing Director of Boland PKS, NBS Boland and BoE Bank.

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