Home » South African tycoon Jannie Mouton gains $42.2 million from Capitec Bank stake

South African tycoon Jannie Mouton gains $42.2 million from Capitec Bank stake

Capitec Bank shares surge by 6.35 percent

by Feyisayo Ajayi
Jannie Mouton

Jannie Mouton, the esteemed South African businessman and founder of PSG Group investment holding company, has seen a substantial increase in his wealth, owing to the remarkable surge in the value of his stake in Capitec Bank, a leading retail bank in South Africa

Data compiled by Billionaires.Africa indicates that Mouton’s stake in Capitec Bank has soared by R786.72 million ($42.21 million) over the past 16 days, driven by the upswing in the bank’s shares on the Johannesburg Stock Exchange (JSE).

Capitec Bank shares surge by 6.35 percent

Capitec Bank is a leading financial institution in South Africa, boasting one of the largest customer bases in the country. With 856 branches and 7,436 ATMs, it has established itself as a trusted retail banking brand over the past two decades.

The lender’s shares on the JSE have surged 6.35 percent in recent times, climbing from R2,054.10 ($110.202) on March 19 to R2,184.47 ($117.196). This surge has propelled the group’s market capitalization above $13 billion, generating significant returns for shareholders.

Mouton’s stake in Capitec Bank surges by $42.2 million

Jannie Mouton who is renowned for co-founding Capitec Bank with Michiel Le Roux, and Riaan Stassen, presently owns a 5.11-percent stake in the leading retail bank, equivalent to 6,034,518 shares, through his Jf Mouton Familietrust.

The recent single-digit percentage rise in Capitec Bank shares has resulted in the market value of Mouton’s stake increasing by R786.72 million ($42.21 million), from R12.4 billion ($665.02 million) on March 19 to R13.18 billion ($707.22 million).

This remarkable surge in Mouton’s stake solidifies his spot among the most affluent investors on the JSE, further strengthening his position among the wealthiest individuals in South Africa.

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