Highlights
- The Capitec Bank Board announced that Gerrie Fourie will retire on 18 July 2025
- Fourie has been on the executive management team for the past 25 years
- Under his stewardship as Capitec CEO, the company transformed from a challenger bank serving 5 million clients in 2014 to South Africa’s leading digital bank and a diversified financial services company serving over 24 million personal and business clients
In a significant leadership transition, Capitec Bank has announced that CEO Gerrie Fourie will be stepping down from his role on July 18, 2025, bringing to a close an illustrious 25-year career with the company, including 11 years at the helm as CEO. The announcement was made by Capitec’s Board, with Chairman Santie Botha praising Fourie’s exceptional leadership and strategic vision.
Under Fourie’s stewardship, Capitec has experienced tremendous growth and transformation, evolving from a challenger bank with 5 million clients in 2014 into South Africa’s leading digital bank and a diversified financial services company with over 24 million clients today. His tenure was marked by significant challenges that he managed to navigate successfully, fostering a culture of resilience, innovation, and growth within the organization.
Reflecting on his journey, Fourie expressed his gratitude and pride in helping Capitec innovate with the purpose of serving South Africa’s needs. “It has been a privilege to lead the company through extraordinary times over the past 11 and a half years. My passion has always been to build a business that innovates with the purpose of serving the needs of South Africans, and to help our country grow. I believe that we have achieved that,” he stated.
The Board is looking ahead with confidence as Graham Lee, currently Group Executive of the personal bank division, is set to take over as the new CEO on July 19, 2025. Lee, who joined Capitec in 2003 and has held various strategic positions over the years, brings a wealth of experience and a deep understanding of the company’s operations and clients. His innovative spirit and proven leadership capabilities are expected to continue driving Capitec’s strategic objectives forward.
Santie Botha expressed the Board’s confidence in the new leadership team, stating, “We have tremendous confidence in both Graham and Basani. Their deep understanding of the business and of our clients, innovative spirit, proven leadership capabilities and track record will ensure continuity and drive our strategic objectives forward. The Board is grateful to Gerrie for the incredible leadership role that he has played during his 11 and a half year tenure as CEO to entrench a high-performance culture in the business, and we wish him well. He leaves a lasting legacy in Capitec, and the country.”
Adding to the leadership changes, Basani Maluleke will succeed Graham Lee as Group Executive for the personal bank division. Maluleke, who joined Capitec in 2021, is renowned for her leadership at African Bank and her extensive experience in operations over the past four years.
This transition reflects Capitec’s strategic planning for the future, ensuring a seamless leadership change and continued success for the bank, with a strong emphasis on innovation and resilience in a competitive financial landscape.
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