Tshepo Mahloele, a prominent investment banker and the founding CEO of Harith General Partners, has seen a significant decline in his stake in Capitec Bank, South Africa’s renowned financial institution, since the start of the year.
Data tracked by Billionaires.Africa reveals that Mahloele’s stake in Capitec Bank has slumped by R1.76 billion ($92.7 million) since Jan. 1; this decline is attributed to the recent downturn in the bank’s shares on the Johannesburg Stock Exchange.
Capitec Bank, established in 1999 and co-founded by Le Roux alongside Jannie Mouton and Riaan Stassen, has solidified its standing over the past two decades, amassing a substantial customer base. With a network of more than 850 branches and 7,400 ATMs across South Africa, the bank has earned a reputation as one of the world’s top retail banking brands.
Mahloele, who is the presiding chairman and founder of Lebashe Investment Holding Group, holds a 7.26-percent indirect stake, translating to 8,409,802 ordinary shares in Capitec Bank.
Since the start of the year, Capitec Bank shares on the Johannesburg Stock Exchange have decreased by 11.26 percent, falling from R1,858.57 ($$97.94) on Jan. 1 to R1,6.649.23 ($86.91) at the time of writing, thus leading to substantial financial losses for shareholders, including Tshepo Mahloele, who owns a significant stake in the group.
As a result of the significant double-digit decline in Capitec Bank’s shares, the market value of Mahloele’s stake in the retail bank has declined by R1.76 billion ($92.7 million) since the start of the year, falling from R15.63 billion ($823.7 million) on Jan. 1 to R13.87 billion ($730.91 million) on Aug. 18.
Despite this substantial financial setback, Mahloele continues to retain his position among the ranks of South Africa’s elite billionaire bankers, underscoring his enduring influence within the Johannesburg Stock Exchange.