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Dar es Salaam-based businessman and serial investor Hans Macha has experienced a significant decline in the market value of his stake in CRDB Bank over the past 84 days.
Despite an initial surge in value, the CRDB shares owned by the Dar es Salaam-based businessman have recently fallen by more than $1 million.
The decrease in Macha’s stake can be attributed to a single-digit decline in CRDB Bank’s shares, which prompted investors to book profits and reallocate funds amid growing economic uncertainty.
CRDB Bank, Tanzania’s largest commercial bank by assets, has faced a slump in its share price on the Dar es Salaam Stock Exchange, resulting in losses for shareholders.
Macha, ranked as one of the richest investors on the local stock exchange, owns 1.9 percent of CRDB Bank, equivalent to 32,764,200 shares.
The bank’s share price has plummeted by nearly 15 percent in 84 days, dropping from Tsh550 ($0.225) on April 21 to Tsh470 ($0.192) on July 14. This downward trend has led to a collective loss of almost $3 million for the bank’s shareholders.
In the wake of the 15 percent decline in CRDB Bank’s share price, Macha has experienced a loss of Tsh2.62 billion ($1.07 million) in the market value of his stake within the past 84 days.
His stake in the bank, which initially stood at Tsh50.18 billion ($20.53 million) on April 21, has now fallen to Tsh42.88 billion ($17.54 million).
Despite the decline in the market value of his stake Hans Macha remains one of the richest investors on the Dar es Salaam Stock Exchange.
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.
