ShapeShifter, Evergreen Content

Meet the founder of Capitec Bank, named ‘Best Bank on Earth and Cheapest in SA’

I discovered at Boland Bank that banking was very archaic.

Michiel le Roux, Capitec Bank

I told our shareholders we’ll either be a big success or a small failure. Not in my wildest dreams could I foresee the success we’ve had.

Michiel le Roux, Capitec Bank

We were very fortunate. I’m not sure we could’ve created a Capitec Bank in other countries.

Michiel le Roux, Capitec Bank

The Money Show's Bruce Whitfield interviewed Michiel le Roux, founder of Capitec Bank, for his weekly "ShapeShifter" feature.

Capitec Bank is the best bank in the world, according to international banking advisory group Lafferty.

It is also the cheapest bank in South Africa, according to the 2015 Solidarity Research Institute (SRI) Bank Charges Report.

If you invested R100 in Capitec Bank shares on 1 July 2011 they would’ve been worth R320 today.

Forbes estimates Michiel le Roux’s net worth at more than R4 billion.

Michiel le Roux obtained BCom Law and LLB degrees from the University of Stellenbosch.

Scroll down for quotes from the video and audio below.

It’s at Boland Bank that I first asked ‘Why do banks close at 3.30pm?’ It was a mystery to me!

Michiel le Roux, Capitec Bank

Most of the people who started Capitec Bank with me came from Distillers and Stellenbosch Farmers' Winery.

Michiel le Roux, Capitec Bank

I studied law, but never practiced. Real law is very boring!

Michiel le Roux, Capitec Bank

I’ve never spoken real business at a party. My wife would object!

Michiel le Roux, Capitec Bank

Every five years there’s a major crisis. You’ve got to plan for it.

Michiel le Roux, Capitec Bank

I originally had a very basic bank in mind.

Michiel le Roux, Capitec Bank

Older banks have legacy systems that are difficult to replace or keep alive.

Michiel le Roux, Capitec Bank

Our customer acquisition is amazing.

Michiel le Roux, Capitec Bank

I believe in the bank, so I’m a shareholder.

Michiel le Roux, Capitec Bank

We’ll keep it simple. In 10 years it’ll still be recognisable as the bank you see today.

Michiel le Roux, Capitec Bank

Click here (then“like” the page) to follow Bruce on Facebook.

Enter your email address in the form below to receive a newsletter containing the seven most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter

Article brought to us by Old Mutual.


Recommended

by NEWSROOM AI
Read More
Buying Barclays… junk status and the rand… Capitec Bank in hot water… (and more)

Buying Barclays… junk status and the rand… Capitec Bank in hot water… (and more)

7 most read, most talked about business articles of the past week.

Consumer watchdog to take Capitec Bank to court over lending practices

Consumer watchdog to take Capitec Bank to court over lending practices

Ray White interviews Clark Gardner, the consumer champion who last year exposed Lewis Group’s unlawful credit practices.

FNB tops South African youth market, but Capitec Bank making huge inroads

FNB tops South African youth market, but Capitec Bank making huge inroads

FNB rules the roost, but only just. The future looks bright for Capitec Bank, which tops Absa, Standard Bank and Nedbank.

Capitec Bank is the best in South Africa by far, say customers. Here’s why…

Capitec Bank is the best in South Africa by far, say customers. Here’s why…

It’s South Africa's cheapest bank and offers great interest rates. It also has the best service of all, according to customers.

Capitec Bank is growing fast and earnings are booming

Capitec Bank is growing fast and earnings are booming

About 100 000 clients join each month and, as a result, earnings are booming. We interview CEO Gerrie Fourie…

Popular articles
Mkhize confirms 24 COVID-19 deaths as cases breach 2,000

Mkhize confirms 24 COVID-19 deaths as cases breach 2,000

Health Minister Zweli Mkhize said that with over 73,000 people already tested, President Cyril Ramaphosa’s extension of the national lockdown had lifted pressure on the country’s health system.

President Cyril Ramaphosa extends lockdown by 2 weeks

President Cyril Ramaphosa extends lockdown by 2 weeks

We all want it to be over but our immediate priority must be saving the lives of our fellow South Africans, says President Ramaphosa.

[WATCH LIVE] President Ramaphosa addresses nation on efforts to contain Covid-19

[WATCH LIVE] President Ramaphosa addresses nation on efforts to contain Covid-19

President Cyril Ramaphosa is addressing the nation on society’s ongoing efforts to contain the spread of Covid-19.

How to start a side hustle in South Africa

How to start a side hustle in South Africa

The Money Show’s Bruce Whitfield asks serial entrepreneur Nic Haralambous for advice on starting a side hustle.

'‘Government must allow e-commerce during lockdown like China did in Wuhan'

'‘Government must allow e-commerce during lockdown like China did in Wuhan'

Should e-commerce expand during the lockdown? Bruce Whitfield interviews Takealot’s Kim Reid and Adrian Zelter (Coronation).

Even if SA recovers it won't help tourism if Covid-19 remains elsewhere

Even if SA recovers it won't help tourism if Covid-19 remains elsewhere

SA Tourism CEO Sisa Ntshona on how the government is assisting and how the industry might recover and grow after Covid-19.

[LISTEN] Teddy Bear clinic launches campaign for chidlren's masks

[LISTEN] Teddy Bear clinic launches campaign for chidlren's masks

Joanne Joseph speaks to Teddy Bear Clinic director Dr Shaheda Omar about the project.

Chris Hani family to launch youth development foundation

Chris Hani family to launch youth development foundation

Granddaughter Nosipho Hani-Khumalo says the foundation will focus on creating opportunities for youth.

Rahima Moosa Nursing College ditches finger-scanners for facial recognition

Rahima Moosa Nursing College ditches finger-scanners for facial recognition

Vice-principal Jazmin Gassiep says she was motivated by listening to 702's coverage of COVID-19 to upgrade their system.

Johannesburg is COVID-19 epicentre with more than 400 confirmed cases

Johannesburg is COVID-19 epicentre with more than 400 confirmed cases

Eyewitness News reporter Thando Kubheka gives an update from Premier David Makhura's briefing on coronavirus.