Jens Montanana, a South African tech tycoon and one of Africa’s top tech entrepreneurs, has recently experienced a significant increase in net worth thanks to the surge in his stake in Datatec, a multinational technology group headquartered in Johannesburg.
According to data tracked by Billionaires.Africa, Montanana’s stake in Datatec has risen by R37.24 million ($2.003 million) in the past 24 days, largely due to the frenzied buying of tech stocks on the Johannesburg Stock Exchange.
Datatec is a South African-based company that provides ICT solutions and services, including software and cloud computing solutions such as Infrastructure as a Service (IaaS) and Software as a Service (SaaS).
Montanana, renowned for his leadership and contributions to the tech industry, founded Datatec in 1986 and currently owns a 14.06-percent ownership stake, equivalent to 31,832,429 ordinary shares in the South African tech company.
Under his leadership, Datatec has expanded to more than 50 countries in North America, Latin America, Europe, Africa, the Middle East, and the Asia-Pacific.
Since Aug. 1, Datatec shares have soared by 3.35 percent, rising from R35.08 ($1.878) on Aug. 1 to R36.25 ($1.941) at the time of writing. This surge has pushed the company’s market capitalization above R8 billion ($445 million).
As a result of the recent uptick, Montanana’s stake has increased by R37.24 million ($2.003 million) since Aug. 1, from R1.12 billion ($59.78 million) to R1.15 billion ($61.78 million) at the time of writing.
The recent surge in the market value of Montanana’s stake in Datatec represents a triumph for the South African tech magnate, who had experienced significant losses in the previous month.
This notable growth solidifies Jens Montanana’s position as one of the richest investors on the Johannesburg Stock Exchange and establishes him as one of the wealthiest businessmen in the country.
