South African businessman Jannie Mouton, renowned for founding South African investment holding firm PSG Group, has experienced a significant decline 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.
Data gathered by Billionaires.Africa revealed that Jannie Mouton’s stake in Capitec Limited has taken a sharp hit of R 70.91 million ($3.74 million) in just 24 hours.
The sharp drop in share value stemmed from cautious investors on the Johannesburg stock exchange seizing the opportunity to lock in profits. They swiftly adjusted their positions in response to a substantial rebound in the shares of the Stellenbosch-based financial services provider.
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.
Jannie Mouton is renowned for Co-founding Capitec Bank with Michiel Le Roux, and Riaan Stassen. He presently owns a 5.11-percent stake in Capitec Bank, equivalent to 6,034,518 shares through his Jf Mouton Familietrust.
Also, Mouton is the founder of South African investment holding firm PSG Group, where he also has a 12.83-percent shareholding in PSG Konsult, an investment holding company founded in 1995.
In just 24 hours, Capitec Bank shares on the Johannesburg Stock Exchange have slumped from R1,719 ($90.87) on September 11 to 1,707.25 ($90.25) at the time of writing, thus leading to losses amounting to millions of dollars for its shareholders, including Mouton.
As a result of the recent decline in the bank’s share price, the market value of the stake held by Mouton has slumped by R70.91 million ($3.74 million) in just 24 hours falling from R10.37 billion ($547.09 million) on September 11 to R 10.30 billion ($543.35 million) at the time of writing.
Despite the recent downturn, Mouton still stands as one of the wealthiest investors on the Johannesburg Stock Exchange. This recent setback underscores the challenges that even the most prominent figures in the financial world must navigate in the face of market fluctuations.
