South African business executive Josua Malherbe has seen a substantial increase in his stake in Remgro Limited, further solidifying his position as one of Southern Africa’s most affluent business executives.
According to data tracked by Billionaires.Africa, Malherbe’s stake in Remgro has surged by R24.72 million ($1.32 million) in the past 42 days, driven by a recent rise in the group’s shares.
Remgro, an investment group linked to Africa’s richest man Johann Rupert, is regarded as one of South Africa’s leading investment entities.
The group boasts investments in various industries, including banking, financial services, packaging, glass products, medical services, mining, petroleum, and the beverage, food, and personal care sectors.
Malherbe, who commenced his career at Rand Merchant Bank in 1985 and presently serves as Remgro’s deputy chairman, owns a beneficial 0.21-percent stake in the investment holding, equivalent to 1,178,995 ordinary shares.
Since May 30, 2023, Remgro’s shares have risen from R130.53 ($6.99) per share to R151.50 ($8.11) at the time of writing on July 11, resulting in a 16.1 percent gain for shareholders, including Malherbe and Rupert.
The surge in share prices has propelled the market value of Malherbe’s stake in Remgro, increasing it by $1.32 million (R24.72 million) within the past 42 days.
The stake’s value surged from R153.89 million ($8.24 million) on May 30 to R178.62 million ($9.57 million) at the time of drafting this report.
Apart from his significant roles and position in Remgro, Malherbe also holds the position of a non-executive director and deputy chairman at Compagnie Financiere Richemont, a Swiss luxury goods holding group led by South African billionaire Johann Rupert.
