South African mogul Tshepo Mahloele has experienced a substantial boost in wealth this year, notably amplifying his burgeoning fortune. His ownership stake in Capitec Bank is on the verge of reaching the impressive milestone of $900 million, fueled by a recent surge in the bank’s share price on the Johannesburg Stock Exchange.
According to data tracked by Billionaires.Africa, Mahloele’s stake in Capitec Bank has skyrocketed by R2.49 billion ($135.55 million) in just 25 days. This surge underscores a noteworthy increase in the bank’s shares, propelled by heightened investor interest in this prominent retail banking institution.
South African businessman Tshepo Mahloele’s power moves in Capitec Bank
Capitec Bank, established in 1999 and co-founded by Michiel Le Roux alongside Jannie Mouton and Riaan Stassen, has solidified its standing over the past two decades, amassing a substantial customer base. With more than 850 branches and 7,400 ATMs across South Africa, the bank has earned a reputation as one of the world’s top retail banking brands.
Mahloele, the presiding chairman and founder of Lebashe Investment Holding Group, a 100-percent Black-owned investment holding firm, holds a 7.26-percent indirect stake, translating to 8,409,802 ordinary shares in Capitec Bank through Lebashe. This stake makes him one of the richest individuals in South Africa.
Capitec Bank’s shares surge, Tshepo Mahloele’s stake hits $893.4 million
Over the past 25 days, Capitec Bank has witnessed a substantial surge in its shares on the Johannesburg Stock Exchange, marking an impressive 17.88 percent increase from R1,656.72 ($90.204) on Oct. 23 to R1,953.00 ($106.266) at the time of compiling this report.
This upswing in the retail bank’s share price has propelled its market capitalization beyond the $12 billion mark. In tandem with this market momentum, Mahloele’s stake in Capitec Bank has experienced a noteworthy uptick of R2.49 billion ($135.55 million) since Oct. 23.Â
The recent surge has elevated his stake from R13.93 billion ($757.93 million) on Oct. 23 to R16.42 billion ($893.48 million). The substantial increase in the market value of Mahloele’s stake not only fortifies his standing as a high-impact investor on the Johannesburg Stock Exchange but also solidifies his position as one of the wealthiest individuals in the country.
