Stellenbosch – Capitec Bank has announced that long-serving CEO Gerrie Fourie will retire at the end of July 2025, bringing to a close an 11-year tenure marked by rapid growth, innovation, and digital transformation.
Fourie joined Capitec in 2000 and became CEO in 2014, guiding the bank through a period of exceptional expansion that saw it grow into South Africa’s largest retail bank by customer numbers. Under his leadership, the bank surpassed 22 million active clients and cemented its reputation as a tech-forward, customer-centric financial institution.
“It has been the honour of a lifetime to serve Capitec,” said Fourie. “Over the past 25 years, we’ve built a business that has redefined banking in South Africa. I am confident that the team will continue to push boundaries and deliver value to our clients.”
Capitec confirmed that its board has initiated a formal succession process and will announce Fourie’s successor in due course. The bank said its leadership transition plan is designed to ensure continuity and sustained strategic focus.
During Fourie’s time as CEO, Capitec evolved from a disruptive newcomer to a major player in the South African banking sector. He spearheaded several innovations, including the launch of a fully digital onboarding process, expanded credit offerings, and the introduction of new business banking services through the acquisition of Mercantile Bank.
“Gerrie’s visionary leadership has been instrumental in transforming Capitec into the powerful brand it is today,” the bank said in a statement. “His legacy is one of innovation, inclusion, and a relentless focus on the customer.”
Fourie will remain with the bank until July 2025 to ensure a seamless handover. The next chapter of Capitec’s leadership will build on the strong foundation he helped create, as the bank continues to scale its digital capabilities and reach new market segments.
