Capitec co-founder Le Roux raises R6.5bn against his stake
What's the deal? CapitecDealroom has a profile for this one. Try Dealroom → co-founder Michiel le Roux has raised about R6.5bn using a portion of his shares in the South African lender as collateral. His investment vehicle, Kalander Sekuriteit, pledged 1,374,356 shares worth R6.56bn, according to a regulatory filing on 7 July 2026.
How it works: Kalander cash-settled and refinanced a prior transaction by implementing a new hedging and refinancing arrangement, which effectively lets Le Roux borrow against the stake.
Capitec said the hedging counterparty will provide the loan financing for the duration of the deal. The bank added that the maximum obligation "will never exceed the total number of shares hedged multiplied by the put strike price," meaning Kalander can always cover the liability with the hedged shares.
Who is Le Roux? He co-founded Capitec in 2001 alongside Jannie Mouton and Riaan Stassen, served as its first chief executive officer in 2001-04, and chaired the bank in 2007-16. He remains one of its largest shareholders, with a stake above 10%. Forbes pegged his wealth at $3.8bn (R62bn) on 7 July 2026.
By the numbers: Capitec's shares have climbed 191% over the five years to July 2026. The group reported a record R16.9bn profit in the 2026 financial year and has amassed 26 million clients since launching in the early 2000s.
Why it matters: Capitec's market capitalisation of R566bn makes it South Africa's largest bank by market value, ahead of FirstRandDealroom has a profile for this one. Try Dealroom →'s R547bn and Standard BankDealroom has a profile for this one. Try Dealroom →'s R53bn.
The signal: The rise in Capitec's share price has made its founders exceptionally wealthy, and they are now deploying that wealth. Mouton in 2025 backed South Africa's largest philanthropic project, buying private school group CurroDealroom has a profile for this one. Try Dealroom →, delisting it from the JSE, and converting it into a not-for-profit aimed at educating children from poor backgrounds.
Read more: Business Day
