South African entrepreneur and tech visionary Jens Montanana, the founder of multinational technology group Datatec, has recorded a significant downturn in the market value of his stake in the leading tech company.
According to data tracked by Billionaires.Africa, Montanana’s shares in Datatec have slumped by R85.31 million ($4.55 million) over the past 18 days, driven by a sustained decline in the company’s stake price, marking yet another downturn in his investment portfolio.
South Africa’s Datatec hit by share price decline, down over six percent since late February
Datatec is a South African-based company that provides ICT solutions and services, including software and cloud computing solutions such as Infrastructure as a Service (IaaS) and Software as a Service (SaaS).
Since Feb. 26, Datatec shares have declined by more than 6 percent, dropping from R41.02 ($2.186) to R38.34 ($2.043) at the time of writing. This decline pushed the market capitalization below $470 million, resulting in losses for shareholders including Montanana.
Datatec founder Jens Montanana’s stake loses $4.55 million amid share price decline
Montanana, renowned for his leadership and contributions to the tech industry, founded Datatec in 1986. He currently holds a 14.06 percent stake, representing 31,832,429 ordinary shares in the South African tech company.
The recent decline in Datatec’s share price has resulted in an R85.31 million ($4.55 million) decrease in the market value of Montanana’s stake. This drop reflects a movement from R1.31 billion ($69.58 million) on February 26 to R1.22 billion ($65.04 million).
Despite this setback, Datatec remains a strong player in the global tech sector. Montanana’s significant shareholding continues to position him as one of the wealthiest investors on the Johannesburg Stock Exchange.
