South African businessman Tshepo Mahloele recorded a remarkable increase in the market value of his stake in Capitec Bank in 2023 driven by the sustained surge in shares of the leading retail bank on the Johannesburg Stock Exchange.
Mahloele — who is one of the wealthiest individuals in South Africa — saw the market value of his stake in Capitec Bank surge by R1.24 billion ($66.22 million) in 2023, strengthening his position as one of South Africa’s elite businessmen and investors.
Capitec Bank shares surge by 7.86 percent, reinforcing Mahloele’s position as a value investor
Capitec Bank, co-founded in 1999 by Michiel Le Roux, 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.
In 2023, Capitec Bank shares on the Johannesburg Stock Exchange increased by 7.86 percent, from R1,878.68 ($100.17) on Jan. 1 to R2,026.36 ($108.05) on Dec. 31. This surge in its share price has bolstered Tshepo Mahloele’s position as a significant shareholder in the bank.
Mahloele’s Capitec Bank stake surges above $900 million
Mahloele, who serves as the chairman and founder of Lebashe Investment Holding, holds an indirect 7.26-percent stake, equivalent to 8,409,802 ordinary shares in Capitec Bank.
According to the data tracked by Billionaires.Africa, Mahloele’s stake in Capitec Bank increased by R1.24 billion ($66.22 million) in 2023, boosting his holdings from R15.79 billion ($842.42 million) on Jan. 1 2023 to R17.04 billion ($908.64million) on Dec. 31, 2023.
The $66.2-million surge in Mahloele’s stake further solidifies his status among South Africa’s elite businessmen. It also positions him as one of the most affluent investors on the Johannesburg Stock Exchange.
