South African businessman Tshepo Mahloele has seen a significant increase in the value of his investment in Capitec Bank. This is attributed to the consistent growth in the bank’s shares on the Johannesburg Stock Exchange (JSE), resulting in millions of dollars in gains for Mahloele.
According to data tracked by Billionaires.Africa the market value of Mahloele’s stake in Capitec Bank has surged by R808.52 million ($42.98 million) over the past 25 days, attributed to the recent upward trend in the bank’s shares on the (JSE).
Capitec Bank shares surge by 4.94 percent, pushing market cap above $12.5 billion
Capitec Bank, founded in 1999 by Michiel Le Roux, Jannie Mouton, and Riaan Stassen, has gained a strong foothold in the past 20 years, attracting a sizable customer base. With 850 branches and 7,400 ATMs across South Africa, it ranks as a leading global retail banking brand.
In the last 25 days, Capitec Bank shares on the Johannesburg Stock Exchange have observed an increase of 4.94 percent, rising from R1,944.91 ($103.405) on Jan. 4 to R2,041.05 ($108.517).
This increase has propelled the bank’s market capitalization above $12.5 billion at the time of writing this report. This surge in the retail bank’s share price has strengthened Tshepo Mahloele’s status as one of the richest investors on the Johannesburg Stock Exchange.
Mahloele’s stake in Capitec Bank surges above $910 million
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
Thanks to this recent upswing in Capitec Bank’s shares, Mahloele’s stake has surged by R808.52 million ($42.98 million) since Jan. 4, elevating his holdings from R16.35 billion ($869.62 million) to R17.16 million ($912.60 million) at the time of writing this report
This increase in Mahloele’s stake further cements his status among South Africa’s elite billionaire bankers and positions him as one of the most affluent investors on the Johannesburg Stock Exchange.
