Malawian businessman Hitesh Anadkat gains nearly $34 million from FMB Capital

Hitesh Anadkat, one of Malawi’s wealthiest individuals, has seen a significant boost in his fortune. His stake in Mauritius-based FMB Capital Holdings has surged by more than $30 million, contributing to his recent gains.

According to data tracked by Billionaires.Africa, Anadkat’s stake in FMB Capital increased by MWK57.17 billion ($33.96 million) over the past 17 days, driven by the recent surge in the group’s shares on the Malawi Stock Exchange.

The surge in Anadkat’s wealth follows closely on the heels of a significant increase of $20.76 million between Jan. 1 and Jan. 16, when the market value of his stake in FMB Capital Holdings increased from MWK274.97 billion ($163.48 million) to MWK309.89 billion ($184.24 million).

FMB Capital shares rise by 18.45 percent, returning profits to shareholders

Headquartered in Port Louis, Mauritius, FMB Capital Group is an investment holding company operating across several African nations, including Botswana, Malawi, Mozambique, Zambia, and Zimbabwe.

Founded by Anadkat in 1995, the group has become a prominent player in the region’s financial landscape. Anadkat presently holds an impressive 35.51-percent stake in FMB Capital, which accounts for 872,924,575 ordinary shares.

FMB Capital Group shares on the Malawi Stock Exchange have surged by 18.45 percent since Jan. 12 – rising from MWK 355.01 ($0.211)  to MWK 420.50($0.249) at the time of writing – resulting in substantial profits for shareholders, including Anadkat.

Anadkat’s stake in FMB Capital soars by nearly $34 million in 17 days

This recent surge in the shares of the Mauritius-based group has translated to an increase in the market value of Anadkat’s stake in FMB Capital. His holdings have increased by MWK57.17 billion ($33.96 million) over the past 17 days, from MWK309.89 billion ($184.08 million) on Jan. 1 to MWK367.06 billion ($218.04 million) at the time of writing.

The recent surge in the market value of Anadkat’s stake in FMB Capital, amounting to $33.96 million, cements his position as one of the most affluent investors on the Malawi Stock Exchange and positions him among the most prosperous businessmen in the country.

His achievements in banking further establish him as a prominent figure in financial services, with his ventures in FMB Capital Holdings showcasing his significant influence across the continent.