Billionaire Capitec co-founder gives R23 million to the Democratic Alliance

Companies linked to Capitec co-founder Michiel le Roux have donated R23 million to the Democratic Alliance over the last three months.

This was revealed in the latest Political Party Funding report released by the Electoral Commission of South Africa (IEC) on 29 May 2026.

This report forms part of the requirements of the Political Funding Act, which took effect on 1 April 2021.

Political parties, independent candidates, and independent representatives must disclose all private donations received above R200,000 within a financial year.

This is a cumulative threshold. Multiple smaller donations from the same source that aggregate to over R200,000 must also be reported.

A single donor, including an individual or entity, is restricted to a maximum contribution of R30 million per financial year to any single political party.

Parties are legally mandated to submit these declarations to the IEC every three months, and the IEC publishes these figures to ensure public transparency.

Donors themselves must also independently report their donations to the IEC within 30 days of making them.

To curb improper influence and safeguard state funds, the Act strictly bans specific streams of private finance.

Direct donations from foreign governments, foreign state agencies, and foreign persons or entities are strictly prohibited.

No donations may be accepted from South African government departments, municipalities, or state companies, like Eskom or Transnet.

The IEC is also legally barred from accepting or processing any funds into state-managed pools if there is reason to believe the money stems from unlawful activities.

Latest donations to political parties

Between 1 January 2026 and 31 March 2026, South African political parties declared R97 million in donations.

The Democratic Alliance (DA) led the pack with R57 million, thanks to sizeable donations from seven people or entities.

• Main Street 1564 – R 10 million
• Mr D Barnes – R3 million
• Ms M Slack – R10 million
• Mr G Ryan – R4 million
• Fynbos Ekwiteit – R10 million
• Fynbos Kapitaal – R13 million

Main Street 1564 is a South African investment and holding company owned by businessman Anthony Charles Ball.

It is primarily known as a major corporate entity that frequently routes substantial financial donations to South African political parties, most notably the DA.

Fynbos Ekwiteit is a private investment holding company and the family investment vehicle of billionaire businessman and Capitec Bank co-founder, Michiel le Roux. 

While it operates quietly as a private corporate entity, it frequently makes headlines for its high-profile political donations and strategic sports investments.

Fynbos Kapitaal is the close sister entity to Fynbos Ekwiteit and also serves as a private investment vehicle for Le Roux.

This means that entities linked to Michiel le Roux have donated R23 million to the Democratic Alliance over the last quarter.

Political party donations in Q4 2026