Capitec co-founder Le Roux raises R6.5bn from shares in his own bank
Capitec co-founder Michiel le Roux has leveraged R6.5bn worth of his bank shares as collateral for a new financing transaction. The deal, managed through his investment vehicle Kalander Sekuriteit, allows him to borrow against his significant stake in South Africa's largest bank.
Why it matters
The transaction highlights the massive wealth accumulation of Capitec's founders and the bank's dominant position in the South African financial sector.
Capitec founder Michiel le Roux, one of South Africa’s wealthiest business people, has embarked on a huge capital raise using a portion of his shares in the R550bn-plus lender as collateral.
The report is a factual summary of a financial regulatory filing.
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