The Capitec billionaire who gave R78 million to the Democratic Alliance in 2026

The co-founder of Capitec, Michiel le Roux, has donated R78 million to the Democratic Alliance (DA) in 2026 to date.

Le Roux has been a loyal supporter of the DA for years, having donated R208 million to the party over the past five years.

This was revealed by the Independent Electoral Commission (IEC) in its Public Declarations Report, which is released quarterly.

These reports revealed that Le Roux donated R23 million to the DA in March 2026, and a further R55 million in May 2026.

The IEC has yet to release the latest donations reports for the second and third quarter of the 2026/27 fiscal year.

Le Roux’s DA donations were made through two of his companies, Fynbos Ekwiteit and Fynbos Kapitaal.

Based on data compiled by The Outlier, Le Roux has used these two vehicles, along with Fynbos Trust, to donate R208 million to the DA since 2021.

Le Roux is one of many DA donors, with the party accounting for R523 million of the R1.14 billion that has been donated to political parties in the past five years. 

The Outlier also found that the DA is the most active party when it comes to declaring donations.

Under South African law, political parties, independent candidates, and independent representatives must disclose all private donations above R200,000 within a financial year.

Donations above this threshold must be declared to the IEC every three months, and the electoral agency will publish them quarterly to ensure transparency.

Almost any legal entity or person can make donations to political parties in South Africa, and many local wealthy businessmen have made use of this opportunity.

For example, billionaire retail legend and former Shoprite chairman Christo Wiese has also donated to the DA, having given R1 million in November 2025.

However, Le Roux remains the biggest individual donor among South Africa’s political party donors.

Michiel le Roux and Capitec

Le Roux co-founded Capitec alongside PSG’s Jannie Mouton and Chris Otto in the late 1990s.

Their plan was to convert an existing microloans business into a bank, and they launched Capitec in 2001.

Le Roux served as Capitec’s CEO from 2001 to 2004, and later became the company’s chairman.

Capitec was a wild success, and Le Roux and his co-founders became some of the wealthiest people in South Africa as a result.

Today, Capitec is valued at R535.33 billion on the JSE, and is the biggest bank in South Africa by client numbers.

While Le Roux has since handed over the reins at Capitec, he remains one of the company’s biggest shareholders.

He has also remained a non-executive member of the company’s board, meaning Le Roux has served on Capitec’s board of directors for two and a half decades.

Le Roux has used his wealth for philanthropic and funding activities, with a focus on education, democracy, and political reform.

For example, through his Fynbos Trust, Le Roux has poured millions into independent media outlets such as amaBhungane, Daily Maverick, and GroundUp.

He has also supported democracy watchdogs and research think tanks, including Corruption Watch and the Institute of Race Relations.

In 2008, Le Roux also co-founded the Geleentheid Trust, a scholarship fund based in Stellenbosch.

This trust identifies talented, financially disadvantaged high school students and awards them scholarships to attend prestigious schools.

Le Roux, through Fynbos Ekwiteit, also owns a controlling stake in the Western Province Rugby Union, which runs the Stormers.

Fynbos’ support for the union proved critical when it was placed under administration in 2021 and deemed unfit to manage its own finances.