Dar es Salaam-based multimillionaire businessman and serial investor Hans Macha has gained more than $1.2 million this year from his stake in Tanzania’s largest banking group, CRDB Bank Plc.
According to data tracked by Billionaires.Africa, Macha, one of Tanzania’s wealthiest investors and businessmen, has seen the market value of his stake in CRDB Bank increase by Tsh2.95 billion ($1.26 million) since the start of the year.
CRDB Bank is Tanzania’s largest commercial bank by assets, followed by NMB Bank Plc, another major player in the country’s financial services industry. As of June 30, CRDB Bank’s assets totaled Tsh10.25 trillion ($4.4 billion), compared to NMB’s Tsh9.05 trillion ($3.9 billion).
Macha owns 1.9 percent of the Dar es Salaam-based bank, or 32,764,200 shares in the leading financial services group.
The bank’s share price on the Dar es Salaam Stock Exchange has increased by more than 23 percent since the beginning of the year, from Tsh380 ($0.162) on Jan. 1 to Tsh470 ($0.201) on Jan. 28, resulting in gains totaling millions of dollars for the company’s shareholders.
The market value of Macha’s stake has increased from Tsh12.45 billion ($5.32 million) at the start of the year to Tsh15.4 billion ($6.58 million) at the time of writing this report as a result of recent gains in the market value of his stake.
Macha’s equity positions in publicly traded companies include a two-percent stake in Maendeleo Bank, a leading financial institution in Tanzania that provides banking products and services to micro, small, and medium-sized business owners.