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South African banking executive Gerrie Fourie has seen a significant increase in the market value of his stake in Capitec Bank, propelled by a sustained surge in the group’s shares on the Johannesburg Stock Exchange (JSE).
According to data tracked by Billionaires.Africa reveals that Gerrie Fourie’s stake in Capitec Bank has risen by R2.16 billion ($8.63 million) over the past 65 days, solidifying his position among South Africa’s top executives.
Capitec Bank’s surge: Share price soars 8 percent in 65 days, market cap hits $13 billion
Capitec Bank, established 20 years ago by South African billionaire Michiel Le Roux, along with distinguished businessmen Jannie Mouton and Riaan Stassen, has risen to prominence as a leading retail bank, offering an array of services, including transactional banking and a range of loan products such as term loans, credit facilities, and credit cards.
In recent times, the share price of Capitec Bank on the JSE has risen by 8.09 percent, rising from R1944.91 ($103.879) on Jan. 4 to R2102.22 ($112.282) at the time of this report, thus pushing its market capitalization above $13 billion.
Gerrie Fourie’s Capitec stake rises above $115 million
As Capitec Bank’s CEO, Gerrie Fourie holds a 0.89-percent stake in the leading retail bank, equivalent to 1,027,673 ordinary shares. This makes him one of the nation’s most prosperous bankers and positions him among the top investors in the country.
In the last 65 days, the surge in the group’s share price has propelled the market value of Fourie’s stake in Capitec Bank from R1.99 billion ($106.75 million) on Jan. 4 to R2.16 billion ($115.39 million) at the time of drafting this report.
This increase solidifies Gerrie Fourie’s standing as one of South Africa’s wealthiest executives and emphasizes his status among the richest investors on the Johannesburg Stock Exchange.
