Namibian businessman has recorded a NAD283.1-million ($19.43 million) boost to his net worth in the past 45 days, as the market value of his stake in Namibia-based investment holding Capricorn Group Limited surpassed the $90-million mark.
The multimillion-dollar increase in the market value of his stake can be attributed to a recent increase in Capricorn Group shares on the Namibian Stock Exchange over the last 45 days.
Capricorn Group is a financial services conglomerate with operations in Namibia, Botswana and Zambia that include banking, micro-lending, property development and unit trust and asset management.
The group’s flagship brand, Bank Windhoek, is Namibia’s largest locally-owned bank and the country’s second-largest commercial bank.
With an 18.52-percent stake in the group, Brandt, who stepped down as chairman of the board of Capricorn Group and Bank Windhoek in 2017, is the holding’s largest individual shareholder.
As of press time on March 25, shares in the Namibia-based investment holding were worth NAD13.99 ($0.961) per share, giving the group a NAD7.15-billion ($490.9 million) valuation on the local bourse.
Capricorn Group shares have recently increased from NAD11 ($0.755) on Feb. 8 to R13.99 ($0.961) at the time of writing, representing a total 27.2-percent gain for shareholders in 45 days.
The market value of Brandt’s stake has risen by NAD283.06 million ($19.43 million) as a result of the price surge, from NAD1.04 billion ($71.5 million) on Feb. 8 to NAD1.32 billion ($90.93 million).
The increase in Capricorn Group’s stock price can be attributed to investor reactions to the group’s earnings increasing by a double-digit percentage at the end of the first six months of its 2021 fiscal period.
The group’s profit after tax increased by 23.8 percent in the first half of 2022, from NAD469.06 million ($30.6 million) in the first half of 2021 to NAD580.5 million ($37.95 million) in the same period of 2022, as the group continues to benefit from an improved operating environment and less stringent COVID-19 restrictions.
