In this Business Talk with Michael Avery interview, Capitec Bank CEO Gerrie Fourie discusses his journey to becoming the company’s chief executive.
Fourie is one of the most respected business leaders and banking executives in South Africa.
He started his career at the Stellenbosch Farmers Winery in the financial planning division, which was followed by five years managing the winery’s sales, marketing, production, and distribution.
In 2000, Michiel Le Roux approached Fourie to start Capitec Bank, and he served as chief operating officer until he took the reins as CEO on 1 January 2014.
Under Fourie’s leadership, Capitec Bank has shown exceptional growth and has become the largest bank in South Africa – with over 22 million clients.
In 2018, Capitec Bank was also named the Best Bank in the World in the Lafferty Bank Ratings, ahead of giants like HSBC, Deutsche Bank, Goldman Sachs, and JPMorgan Chase.
Fourie was named the 2019 Business Leader of the Year at the Sunday Times Top 100 Companies Awards, too, thanks to his excellent works as CEO.
In the same year, he oversaw Capitec Bank’s acquisition of Mercantile Bank in a R3.56-billion deal.
Fourie continues to lead Capitec Bank, reinforcing its position as South Africa’s largest bank.
The interview
Fourie begins the interview by outlining his favourite experiences and milestones across his 24-year Capitec Bank journey.
He then unpacks the earnings and client growth numbers Capitec Bank reported earlier this year and explains the reasons the bank continues to be successful.
Fourie also explains his vision for Capitec Bank for the next five years, revealing several strategic initiatives he is extremely excited about.
He outlines the biggest challenges the bank is facing in the South African market and how Capitec Bank is navigating these obstacles.
Fourie concludes the interview by offering advice to young professionals who aspire to have a similar career trajectory to him in the banking sector.
Watch the interview with Gerrie Fourie below.
