ECONOMIST Dr Séan Mfundza Muller has issued a stark warning about the growing power of South Africa’s ultra-wealthy, spotlighting Michiel le Roux, co-founder of Capitec Bank, and his alleged behind-the-scenes influence on media, politics, and civil society through strategic funding, raising questions about accountability, transparency, and the integrity of democratic institutions.
Speaking on Ntsiki Mazwai’s Moya podcast, Muller said: “Another South African billionaire, who I think is very interesting, is Michiel le Roux, who is one of the people behind Capitec. Now, as far as I know — and I heard this both from a private source and then I also came across a public source of this information — Le Roux is behind a trust called the Millennium Trust.”
Muller explained that, according to his research and private discussions,…