Two companies linked to South African billionaire and Capitec founder Michiel Le Roux gave the Democratic Alliance R55 million ($3.4 million) in the second quarter, accounting for more than half of the party’s disclosed donations for the period.

Fynbos Ekwiteit donated R30 million ($1.8 million) to the DA between April 1 and June 30, 2026, while Fynbos Kapitaal contributed another R25 million ($1.5 million), according to figures published by South Africa’s Electoral Commission on Aug. 27.

Together, the two contributions represented about 53% of the R104.03 million ($6.5 million) in compliant donations disclosed by the party during the quarter.

The amount was also more than four times the R12.75 million ($791,895) declared by all other political parties combined.

Two companies, one major donor

South African law limits an individual donor to R30 million ($1.8 million) in contributions to a political party in a financial year. Fynbos Ekwiteit gave exactly that amount, while Fynbos Kapitaal gave R25 million ($1.5 million).

The companies are separate legal entities, allowing their combined contributions to exceed the limit that applies to an individual donor. The disclosure itself does not indicate that the donations breached political-funding rules.

Fynbos Kapitaal is a private investment and holding company linked to Le Roux, while Fynbos Ekwiteit serves as a private investment and family holding vehicle associated with the billionaire.

Le Roux co-founded Capitec in 2001 with Jannie Mouton and Riaan Stassen. He remains a major shareholder in the lender, with 13.14 million shares, or an 11.32% stake. Forbes estimates his fortune at $3.7 billion.

Companies associated with Le Roux have appeared among the DA’s biggest disclosed donors since South Africa introduced mandatory political-funding reporting in 2021.

DA dominates disclosed funding

The DA reported R98.75 million ($6.1 million) in cash donations and R5.28 million ($328,457) in goods and services during the quarter.

Its total of R104.03 million accounted for roughly 89% of the R116.78 million ($7.3 million) in compliant funding declared by all political parties.

Only four parties reported compliant donations for the period. ActionSA declared R5.5 million ($341,952), the Labour Party of South Africa reported R5 million ($310,660), and RISE Mzansi disclosed R2.25 million ($139,909).

The two Fynbos donations alone were larger than the combined amount reported by those three parties.

Other major DA donors included Martin Moshal, a billionaire associated with online gambling, who gave R5 million ($310,802) to the party and another R5 million to ActionSA. The DA also received R10 million ($621,320) from a donor identified as D Barnes and R5 million ($310,671) from Lombard Consolidated.

Some donations were made in kind, including advertising, training, vehicles and other services. The disclosures come as South African political parties prepare for another major battle for municipal power. The DA, the country’s second-largest political party and official opposition, governs the Western Cape and Cape Town and has been part of the national coalition government since the African National Congress lost its parliamentary majority in 2024.