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South African banker and business executive Gerrie Fourie has experienced a substantial increase in the market value of his stake in Capitec Bank, attributed to a recent surge in the group’s shares on the Johannesburg Stock Exchange (JSE).
Data compiled by Billionaires.Africa reveals that Fourie’s stake in Capitec Bank has surged by more than $10 million over the past 24 days, further solidifying his stature among South Africa’s top executives.
Capitec Bank, established 20 years ago by South African billionaire Michiel Le Roux, along with distinguished businessmen Jannie Mouton and Riaan Stassen, has risen to prominence as a foremost retail bank, offering an array of services, including transactional banking and a range of loan products such as term loans, credit facilities, and credit cards.
Fourie, the retail bank’s CEO, owns a 0.89-percent stake in the bank, or 1,027,673 ordinary shares. The stake not only positions him as one of the most affluent bankers in the nation, but also places him in the upper echelons of the country’s wealthiest investors.
In recent times, the share price of Capitec Bank on the JSE has increased significantly, surging by an impressive 11.96 percent, from R1557.41 ($82.57) on Sept. 5 to R1743.67 ($92.45) at the time of this report.
This surge in the group’s share price has propelled the market value of Fourie’s stake in Capitec Bank up by R191.41 million ($10.15 million) within the past 24 days, from R1.60 billion ($84.86 million) on September 5 to R1.79 billion ($95.01 million) on Sept. 29.
This surge further cements Fourie’s position as one of the most affluent executives in South Africa and also as one of the richest investors in the Johannesburg Stock Exchange.
