Table of Contents
Key Points
- Fourie exits Capitec with $8.2 million payout, including $5.62 million in 2025 salary and $2.43 million in dividends from his 0.89% stake.
- Capitec’s 2025 profit surged 575% to $742.5 million, up from $109.08 million in 2014, capping Fourie’s decade of digital-driven expansion.
- Market value soared to $22.42 billion under Fourie, with assets rising over 400% and customer base hitting 24 million.
Gerrie Fourie, the longtime South African business executive and former CEO of Capitec Bank, has stepped down with a golden farewell package worth R150.29 million ($8.2 million), a reflection of his lasting impact on South Africa’s largest retail bank.
His final payout includes a substantial R104.82 million ($5.62 million) in salary for the 2025 fiscal year, along with R45.47 million ($2.43 million) in dividends from his 0.89 percent stake in the company.
These parting figures mark the close of a remarkable chapter—one in which Fourie played a central role in turning Capitec from a small, ambitious player into the country’s leading retail bank over his 11 years at the helm.
A decade of expansion and transformation
Fourie, who succeeded founding CEO Riaan Stassen on Jan. 1, 2014, oversaw Capitec’s rise from a small player with just 55 branches and 25,000 clients into a digital-first retail giant serving over 24 million customers.
His leadership was instrumental in reshaping Capitec’s strategy and footprint. The bank’s diversification into non-interest revenue streams, rollout of Capitec Connect, and aggressive fintech expansion were key to its dominance in the low-cost banking space.
The 2025 fiscal year marked the end of Fourie’s tenure, with his official retirement confirmed at the company’s annual general meeting held at Cavalli Estate, Somerset West, on July 18.
Breakdown of 2025 payout
Fourie’s final year at the helm was his most lucrative. His R104.82 million pay package included a base salary of R18.66 million ($1 million), a short-term incentive of R11.02 million ($589,712), and a long-term incentive of R75.02 million ($4.02 million), awarded in recognition of his long-term contribution to Capitec’s growth.
The R45.47 million dividend payout followed Capitec’s approval of a final dividend of R44.25 ($2.38) per share—a 32.3 percent increase from the previous year. In total, the bank will return R5.14 billion ($274.89 million) to shareholders.
Performance anchored in profit and scale
Under Fourie’s leadership, Capitec’s net profit for the year ended February 2025 surged 574.8 percent to R13.75 billion ($742.5 million), up from R2.04 billion ($109.08 million) in 2014.
Market capitalization ballooned to R402 billion ($22.42 billion), while total assets rose 416.3 percent to R238.46 billion ($12.75 billion). Equity grew by a similar 410 percent to R50.91 billion ($2.74 billion).
The strong financial performance reflected a resilient and scalable business model rooted in simple, accessible banking. With 880 branches and more than 7,400 ATMs nationwide, Capitec remains one of the most visible and customer-centric banks in the country.
A parting legacy
Fourie’s departure signals the close of a significant chapter in Capitec’s evolution, but his legacy appears secure. As the bank enters a new leadership era, it does so with a fortified balance sheet, loyal customer base, and continued momentum in digital innovation.
His $8.2 million farewell payout is not just compensation—it’s a marker of the transformation he helped engineer and the shareholder value created along the way.
