South African businessman Tshepo Mahloele has witnessed a significant increase in the market value of his investment in Capitec Bank Holdings, driven by renewed investors buying interest as they mop up shares in the leading retail banking group.
According to data tracked by Billionaires.Africa the market value of Mahloele’s stake in Capitec Bank has climbed by R928.11 million ($48.46 million) over the past 20 days, due to the recent increase in the bank’s shares on the Johannesburg Stock Exchange (JSE).
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.
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, solidifying his status as one of South Africa’s leading businessmen and investors.
Over the past 20 days, Capitec Bank shares on the JSE have climbed 5.55 percent, moving from R1,987.64 ($103.69) on Feb. 2 to R2,098 ($109.44) as of the report’s drafting.
This has pushed the bank’s market capitalization beyond $12 billion. Notably, the uptick in the retail bank’s stock has bolstered Mahloele’s standing as one of the wealthiest investors on the JSE.
Due to a 5.55-percent rise in the group’s share price, Mahloele’s stake in Capitec Bank surged by R928.11 million ($48.56 million) over the past twenty days. His holding, which was R16.72 billion ($872.75 million) on Feb. 2, now stands at R17.64 billion ($921.21 million). This boost reinforces his status as one of South Africa’s top businessmen and investors.
