In a move that further bolsters his position among Africa’s wealthiest individuals, South African tycoon Tshepo Mahloele has seen the market value of his Capitec Bank stake rise significantly. This upswing is attributed to renewed investor interest in the leading retail banking group.
According to data tracked by Billionaires.Africa, the market value of Mahloele’s stake in Capitec has surged by R748.81 million ($39.32 million) over the past 29 days. This coincides with the recent rebound in the share price of Capitec Bank on the Johannesburg Stock Exchange (JSE).
Capitec Bank’s share price climbs, market cap rebounds above $12 billion
Capitec Bank, co-founded in March 2001 by Michiel Le Roux, Jannie Mouton, and Riaan Stassen, has cemented its position as a leading retail bank in South Africa over the past two decades. The bank boasts a substantial customer base, supported by a network of over 850 branches and 7,400 ATMs across the country.
Since February 28, 2024, Capitec Bank’s shares on the JSE have witnessed a 4.45-percent increase. The share price rose from R1,999.61 ($105.01) to R2,088.65 ($109.69) at the time of writing. This surge has propelled Capitec Bank’s market capitalization above $12 billion, solidifying its position as the 12th most valuable company listed on the JSE.
Mahloele retains ranks among South Africa’s richest as stake in Capitec Bank swells
Tshepo Mahloele, chairman and founder of Lebashe Investment Holding, holds a 7.26-percent indirect stake in Capitec Bank, equivalent to 8,409,802 ordinary shares. This solidifies his position as one of South Africa’s leading businessmen and investors.
Mahloele’s stake in Capitec Bank has gained R748.81 million ($39.32 million) in market value due to the recent share price increase. The value climbed from R16.82 billion ($883.12 million) on Feb. 28 to R17.57 billion ($922.45 million) as of writing.
The rise in the value of Mahloele’s stake further cements his status among South Africa’s elite billionaire bankers and positions him as a leading force among affluent investors on the JSE.
