After a decade at the helm and 25 years with Capitec, Gerrie Fourie retires as CEO in July 2025.
His leadership marked one of our history's most significant growth periods, from a disruptive newcomer to South Africa’s leading financial service.
This is more than a farewell. It’s a tribute to a builder, a challenger and a strategist who helped shape a bank that now serves over 24 million clients.
Gerrie stepped into the CEO role in 2013. At the time, Capitec had 5 million clients and fewer than 800 branches. Fast-forward ten years, and we’ve expanded to over 24 million clients, introduced fully digital onboarding, redefined affordable banking and broadened our client base across every income group.
In his final interview with Stephan Grootes, Gerrie said:
“It’s never been just about growth. It’s about staying focused on the client and solving for their needs, not ours.”
That client-first focus powered many of our bold moves during his tenure, from launching the banking app to rolling out Capitec Pay, acquiring Mercantile and launching Capitec Business, launching our Insurance offering and expanding our footprint globally through the AvaFin acquisition. All the while maintaining that the product should be simple, the price affordable, and the service accessible for all.
In an interview with Daily Investor in July, Gerrie shared how culture and discipline were key to Capitec’s success:
“We’re proud to grow fast – but we’re even more proud that we’ve grown consistently, sustainably, and with purpose.”
It’s this blend of ambition and humility that defines Gerrie’s legacy. He led with clarity, discipline and maintained high standards without ever losing the human touch.
His leadership was not without challenge. The COVID-19 pandemic, rising interest rates and a shifting regulatory landscape tested our resilience. Yet under his guidance, Capitec remained profitable, adaptive and focused on long-term value.
Although Gerrie has stepped down as CEO, he will stay on for another year in a non-executive capacity, focusing on mentorship and our international strategy. His successor, Graham Lee – a Capitec veteran since 2003 – steps in with deep institutional knowledge and a clear mandate to keep the momentum going.
Gerrie’s parting words to clients say it best:
“It has been a privilege to be part of a business that serves South Africans with honesty, simplicity and heart. Thank you for your trust. Capitec’s best days are still ahead.”
From all of us at Capitec, thank you, Gerrie, for your service, your vision, your belief in each of us and embodying the belief that client comes before profit.
