Home » South African tycoon Tshepo Mahloele makes $124.5 million from Capitec in 33 days

South African tycoon Tshepo Mahloele makes $124.5 million from Capitec in 33 days

Capitec Bank shares see 16.68-percent surge-bolstering Mahloele's position as a value investor

by Omokolade Ajayi
Tshepo Mahloele

South African businessman Tshepo Mahloele has witnessed a remarkable increase in the market value of his stake in Capitec Bank, following a substantial rise in shares of the leading retail bank on the Johannesburg Stock Exchange.

According to data tracked by Billionaires.Africa, Mahloele — who ranks among the richest investors on the Johannesburg Stock Exchange — experienced a surge of R2.33 billion ($124.52 million) in his stake in Capitec Bank over the past 33 days, due to a recent upswing in the share price of this prominent retail bank.

The multimillion-dollar surge in Mahloele’s stake in Capitec Bank cements his position among the richest investors on the Johannesburg Stock Exchange—it also solidifies his position among the wealthiest individuals on the African continent.

Capitec Bank shares 16.68% surge-bolstering Mahloele’s position as a value investor 

Established in 1999 by Michiel Le Roux, alongside Jannie Mouton and Riaan Stassen, Capitec Bank has fortified its position over two decades, gathering a substantial customer base. With more than 850 branches and 7,400 ATMs spread across South Africa, the bank has garnered international recognition as a premier retail banking brand.

In recent times, the share price of Capitec Bank on the Johannesburg Stock Exchange has increased by 16.68 percent —from R1,660.21 ($88.744) on Nov. 1 to R1,937.20 ($103.550) at the time of this report. 

The bump in the lender’s share price has pushed its market capitalization above $22 billion, fortifying Mahloele’s position as a leading investor and cementing Capitec Bank’s position as the 12th most valuable company on the JSE.

Tshepo Mahloele’s Capitec Bank stake soars above $870 million

As the chairman and founder of Lebashe Investment Holding, Mahloele holds an indirect 7.26-percent stake, equivalent to 8,409,802 ordinary shares in Capitec Bank. His private equity firm, Harith General Partners, recently received unconditional approval from the Competition Commission for its acquisition of a 46-percent stake in Mergence Investment Managers — a subsidiary of Mergence Africa Holdings.

As a result of the latest bump in Capitec Bank shares, Mahloele’s stake in the Stellenbosch-based retail bank has increased significantly, rising from R13.96 billion ($746.32 million) on Nov. 1 to R16.29 billion ($870.84 million) at the time of drafting this report.

The R2.33-billion ($124.52 million) surge in his stake in Capitec Bank over the past 33 days further solidifies his position as one of the wealthiest investors and business executives on the African continent — it also underscores the resilience of South Africa’s business leaders in navigating challenging macroeconomic environments while consistently building their wealth.

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