Tshepo Mahloele, a South African tycoon and chairman of Lebashe Investment Holding Group, has witnessed a substantial decrease in the market value of his stake in Capitec Bank due to the recent decline in the bank’s shares on the Johannesburg Stock Exchange.
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 decline by R1.51 billion ($78.99 million) in barely two weeks.
From Aug. 31 to Sept. 26, Mahloele witnessed a remarkable surge in his investment in Capitec Bank, with his stake soaring by an impressive $39 million. During this period, the market value of his holding in the financial institution climbed from R13.33 billion ($702.52 million) to a formidable R14.08 billion ($742.13 million).
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 leading retail bank has amassed a substantial customer base and garnered a reputation as one of the world’s foremost retail banking brands.
Mahloele, the 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.
In recent times, Capitec Bank shares have decreased by 9.76 percent, falling from R1,836 ($96.2) on Oct. 10 to R1,656.72 ($86.8), thus leading to substantial financial losses for shareholders, including Tshepo Mahloele, who owns a significant stake in the group.
The recent decline in Capitec Bank’s shares has led to a substantial decrease of R1.51 billion ($78.99 million) in Mahloele’s stake in the retail bank, declining from R15.44 billion ($808.98 million) on Oct. 10 to R13.93 billion ($729.99 million) at the time of this report.
