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Last founder to leave\u00a0<\/h2>\n\n\n\n
Fourie is the last founding member of Capitec to oversee the group\u2019s day-to-day activities. <\/p>\n\n\n\n
Capitec originated from the PSG Group\u2019s microlending business, where the group bought SmartFin and FinAid, which had 68 microlending branches.<\/p>\n\n\n\n
After some management changes at PSG in 2000, the microlending business was spun out as a subsidiary of its banking business, with Capitec established in 2001 in Stellenbosch. <\/p>\n\n\n\n
The new group received large amounts of equity capital from PSG and was unbundled and listed on the JSE in 2003.<\/p>\n\n\n\n
With a background in the alcohol industry, Fourie joined the group in 2000 when he was introduced to fellow co-founder Michiel le Roux. <\/p>\n\n\n\n
Fourie launched the bank alongside PSG Group founder Jannie Mouton, Michiel Le Roux, and Riaan Stassen, the latter two of whom were the CEOs before Fourie.\u00a0<\/p>\n\n\n\n
Despite being large shareholders, none of the original founders have been active in the group\u2019s day-to-day activities over the last few years.\u00a0<\/p>\n\n\n\n
Delivering his final address at the company’s AGM, Fourie tearfully thanked Capitec\u2019s employees who had done their jobs with passion, the board for their guidance and support, and to his family for being there for what was an incredibly tough job.<\/p>\n\n\n\n
As Fourie bid an emotional farewell to the company and exited the bank’s headquarters in the Cape for the last time as CEO, he was applauded by employees who lined the halls at his parting<\/strong><\/a>.<\/p>\n\n\n\n Employees shared messages and well-wishes, saying goodbye to an executive who very clearly impacted those he led and who hold him in high regard.<\/p>\n\n\n\n “A CEO who never asked to be called Mr Fourie, who loved spending his time with his people and will be remembered for the lives he changed through building this business by walking the streets,” said Capitec marketing manager, Crystal Van Reenen.<\/p>\n\n\n\n “Gerrie leaves behind a legacy defined by humility, integrity, and servant leadership. He led not only from the front of the line, but within it – never skipping queues in the canteen or coffee shop, never seeking the spotlight, but always championing the values that built Capitec,” said Live Better manager, Ronele Coetzee.<\/p>\n\n\n\n \u201cWe bid farewell to our CEO, Gerrie ‘Pappa G’ Fourie. What a journey he\u2019s walked, and such an inspiring one at that,\u201d said Capitec\u2019s Coordinator on Financial Education, Nqobile Hlophe<\/a>.<\/p>\n\n\n\nWhat’s next for Fourie <\/h2>\n\n\n
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