South African tycoon Tshepo Mahloele’s Capitec stake hit by $107-million loss

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Tshepo Mahloele, a prominent South African tycoon and the presiding chairman of Lebashe Investment Holding Group, has suffered substantial losses of $107 million from his investment in Capitec Bank.

The sustained decline in the bank’s shares has led to a significant decrease in the market value of his shares within the financial institution, which has tumbled below $740 million.

According to data tracked by Billionaires.Africa, Mahloele, recognized as one of the wealthiest individuals on the African continent, has seen the market value of his stake in Capitec Bank increase by R1.98 billion ($107.04 million) since the start of the year.

This is $14.94 million higher than the figure reported on Aug. 18, when Billionaires.Africa reported a year to date loss of R1.76 billion ($92.7 million), with the value of his stake in the retail bank declining from R15.63 billion ($823.7 million) on Jan. 1 to R13.87 billion ($730.91 million) on Aug. 18.

Capitec Bank, which was established in 1999 and co-founded by Michiel Le Roux alongside Jannie Mouton and Riaan Stassen, has solidified its position over the last two decades. The bank has amassed a substantial customer base and garnered a reputation as one of the world’s foremost 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 have decreased by 12.67 percent, from R1,858.57 ($100.396) on Jan. 1 to R1,623 ($87.67), thus leading to substantial financial losses for shareholders, including Tshepo Mahloele, who owns a significant stake in the group.

The sustained double-digit decline in Capitec Bank’s shares has led to a decrease of R1.98 billion ($107.04 million) in the market value of Mahloele’s stake within the retail bank since the beginning of the year. The value has declined from R15.63 billion ($844.5 million) on January 1 to R13.65 billion ($737.46 million) at the time of this report.