Checked 27 October 2026
Where the facts about this donor come from
Every fact on the donor page, with the sources we used. We save a copy of each source on the day we read it.
What is FYNBOS EKWITEIT (PTY) LTD?
Who it is
Michiel du Pré le Roux, director (Capitec founder).
TimesLIVE. Published 31 August 2023.
Where to look: Paragraphs on DA donors: "The company’s directors are listed as Michiel du Pré le Roux and Johan Petrus du Pré le Roux. The former is a founder of Capitec Bank"
Johan Petrus du Pré le Roux, director.
TimesLIVE. Published 31 August 2023.
Where to look: Paragraphs on DA donors: "The company’s directors are listed as Michiel du Pré le Roux and Johan Petrus du Pré le Roux. The former is a founder of Capitec Bank"
What did the parties declare?
The IEC funding reports
This donor gave the DA 3 donations worth R50 000 000, as declared to the IEC. They were made between October 2025 and June 2026.
Electoral Commission of South Africa (IEC). Published 27 February 2026.
Where to look: The table of donations the parties declared (section 9(1)) and the late declarations table, under the party that declared it
Electoral Commission of South Africa (IEC). Published 29 May 2026.
Where to look: The table of donations the parties declared (section 9(1)) and the late declarations table, under the party that declared it
Electoral Commission of South Africa (IEC). Published 27 August 2026.
Where to look: The table of donations the parties declared (section 9(1)) and the late declarations table, under the party that declared it
What has been reported?
Official records and news
TimesLIVE reported in August 2023 that the company's directors are Michiel du Pré le Roux and Johan Petrus du Pré le Roux. It said Michiel is a founder of Capitec Bank.
TimesLIVE. Published 31 August 2023.
Where to look: Paragraphs on DA donors: "The company’s directors are listed as Michiel du Pré le Roux and Johan Petrus du Pré le Roux. The former is a founder of Capitec Bank"
News24 reported in August 2022 that "Capitec founder Michiel le Roux is a director of Fynbos Ekwiteit".
News24. Published 30 August 2022.
Where to look: DA section: "Capitec founder Michiel le Roux is a director of Fynbos Ekwiteit"; "the Friedrich Naumann Foundation, a German foundation"; IEC: "these donations were used for the purposes of training or skills development"
Daily Maverick reported in 2024 that le Roux is a director of both Fynbos Ekwiteit and Fynbos Kapitaal. It called them investment companies.
Daily Maverick. Published 13 March 2024.
Where to look: Paragraph on top donors: "Investment companies Fynbos Ekwiteit and Fynbos Kapitaal, which have Capitec founder Michiel Le Roux as a director"
The IEC said in August 2025 that Fynbos Ekwiteit and Fynbos Kapitaal "appear to share the same ownership". But the law treats them as two separate donors, each with its own donation limit.
Electoral Commission of South Africa (IEC). Published 28 August 2025.
Where to look: "Democratic Alliance (DA) – R32 229 474.29", paragraph 2: "Fynbos Kapitaal (Pty) Ltd, a company linked to Capitec founder Michiel le Roux"; "While both entities appear to share the same ownership, they are distinct juristic persons and each therefore has its own applicable donation threshold."
Business Day says Michiel le Roux co-founded Capitec Bank, was its first chief executive and later its chair. It says he still owns more than 10% of the bank.
Business Day. Published 8 July 2026.
Where to look: Paragraph 2 and background paragraph: "He served as the bank’s inaugural CEO in 2001-04 and as its chair in 2007-16 and remains one of the bank’s largest shareholders, with a stake of more than 10%."
Daily Maverick reported that the DA got R58 million in 2025/26 through companies linked to Michiel le Roux. So he is behind one of the DA's largest sources of declared money.
Daily Maverick. Published 31 May 2026.
Where to look: Section "DA’s R122m": "Over the 12-month period, the DA’s most notable donations were R58-million through companies linked to Capitec Bank co-founder Michiel le Roux"
The IEC said Fynbos Ekwiteit gave the DA R30 million in April to June 2026. That is the new yearly upper limit, which the IEC says rose from R15 million to R30 million.
Electoral Commission of South Africa (IEC). Published 27 August 2026.
Where to look: Opening: "increased the disclosure threshold from R100 000 to R200 000 and the annual upper donation limit from R15 million to R30 million"; "Democratic Alliance – R104 million": "R 30 million from Fynbos Ekwiteit (Pty) Ltd"
The IEC said Fynbos Ekwiteit also gave R15 million to another party, Change Starts Now, in January to March 2024. The IEC said this new party was not standing in the 2024 election.
Electoral Commission of South Africa (IEC). The page has no date.
Where to look: Change Starts Now (CSN) paragraph: "The donations were received from three separate donors in the names of Fynbos Ekwiteit (Pty) Ltd (R15 000 000), Main Street 1564 (R15 000 000) and Ball Family Trust (R5 820 000)"; "CSN is not contesting the forthcoming elections."
Daily Maverick reported in 2023 that Michiel le Roux sat on a three-person panel that reviewed the DA's 2019 election losses. So he has also helped the DA in ways other than money.
Daily Maverick. Published 10 September 2023.
Where to look: Section "What influence?": "he was one of three members of a review panel looking into the DA’s electoral decline in 2019, alongside former party strategist Ryan Coetzee and former party leader Tony Leon"
The IEC said another DA donor, Voices of South Africa Foundation, has links with Johan Petrus du Pré le Roux. He is a director of Fynbos Ekwiteit.
Electoral Commission of South Africa (IEC). Published 30 August 2024.
Where to look: DA paragraph: "an entity called Voices of South Africa Foundation NPC, which has links with one of the directors of Fynbos Ekwiteit (a regular donor to the DA), Johan Petrus du Pré le Roux"
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