South African banker and business executive Gerrie Fourie has witnessed a remarkable surge in the market value of his stake in Capitec Bank, thanks to the recent upswing in the group’s shares on the Johannesburg Stock Exchange (JSE).
According to data tracked by Billionaires.Africa, Fourie’s stake in Capitec Bank has risen by R85.99 million ($4.55 million) in the past 10 days, reflecting the impressive performance of the leading financial services group’s stock.
This financial feat builds upon a significant gain of $10 million that he amassed between Sept. 5 and 29, as the market value of his stake in Capitec Bank rose from R1.60 billion ($84.86 million) on September 5 to R1.79 billion ($95.01 million) on Sept. 29.
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 leading 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 ranks of the country’s wealthiest investors.
In recent times, the share price of Capitec Bank on the Johannesburg Stock Exchange has increased by 4.93 percent, rising from R1697.89 ($89.819) on Oct. 2 to R1781.57 ($94.246) at the time of drafting this report.
This surge in the group’s share price has propelled the market value of Fourie’s stake in Capitec Bank up by R85.99 million ($4.55 million) in the past 10 days, from R1.74 billion ($92.30 million) on Oct. 1 to R1.83 billion ($96.85 million) at the time of drafting this report.
The recent surge in his stake solidifies Fourie’s position as one of the most affluent executives in South Africa and cements his position as one of the most prominent investors on the Johannesburg Stock Exchange.
