South African businessman Petrus Johannes Mouton (Piet Mouton) has experienced a remarkable boost in the market value of his stake in Capitec Bank, a Stellenbosch-based financial services provider, which ranks as one of the continent’s leading lenders.
After recording significant losses of $180 million earlier in July, Mouton has bounced back with an impressive gain of R1.54 billion ($84.1 million) in just 43 days, which has pushed the market value of his stake well above $640 million.
Capitec Bank is a leading financial institution in South Africa, boasting one of the largest customer bases in the country. With 856 branches and 7,436 ATMs, it has established itself as a trusted retail banking brand over the past two decades.
Founded by Michiel Le Roux, Riaan Stassen, and Jannie Mouton, the bank offers a wide range of transactional banking and loan products. At the helm of PSG Group, an investment holding company founded in 1995, Mouton presently owns 5.78 percent of Capitec Bank, equivalent to 6,685,622 shares.
The recent surge in Capitec Bank’s shares on the Johannesburg Stock Exchange, which rose by 15.10 percent from R1521.49 ($83.30) on July 19 to R1,751.25 ($95.88) on Aug. 2, has propelled the group’s market capitalization above $11 billion.
Consequently, Mouton’s stake in the bank surged from R10.17 billion ($556.92 million) to R11.71 billion ($641.02 million) in just 43 days. This led to a R1.54-billion ($84.1 million) gain for the South African businessman, cementing his position as one of the richest investors on the Johannesburg Stock Exchange.
This impressive boost in his stake has compensated for the substantial R4.7 billion ($251 million) loss he suffered between Jan. 1 and June 10.
