Early Life
Michiel Scholtz du Pré le Roux was born on May 20, 1949, in Stellenbosch, South Africa. He attended the University of Stellenbosch, graduating with a BCom (Law) and LLB degree in 1972. After university, he started his career in the liquor industry, working at Distillers Corporation, where he became the managing director.
Rise to Success
In 1994, Le Roux joined Boland Bank as managing director. He then founded Capitec Bank in 2001 with a mission to provide accessible and affordable banking services, targeting the underserved population in South Africa. Under Le Roux's leadership, Capitec Bank grew to become one of the largest retail banks in South Africa. He served as Capitec's CEO from 2001-2004 and as chairman of the board from 2007 to 2016.
Key Business Strategies
Capitec's success is attributed to its focus on customer-centricity, innovation, and efficiency. The bank offered simplified banking with low-cost transaction fees, no-frills savings accounts, and accessible credit facilities. Le Roux's leadership emphasized simplicity, direct customer engagement, and equal access to services for all.
Philanthropy
Le Roux is involved in philanthropy through the Millennium Trust, which supports media and civil society organizations. He is also a significant donor to South African political parties.