South African businessman Tshepo Mahloele’s wealth has seen a significant boost as the market value of his indirect stake in Capitec Bank (CPT) climbed to $1 billion. This surge is attributed to renewed investor interest in the leading retail banking group.
Mahloele’s Capitec shares mirror the retail bank’s recent share price surge on the Johannesburg Stock Exchange (JSE). Over the past 12 days, the market value of his stake has increased by R960.48 million ($52.07 million), reaching R18.58 billion ($1.005 billion) as of this report.
This latest gain builds upon a period of steady growth for Mahloele. Between Feb. 28 and March 27, the market value of his indirect stake in Capitec Bank rose by $39.32 million, going from R16.82 billion ($883.12 million) to R17.57 billion ($922.45 million).
Capitec Bank’s market capitalization surpasses $14 billion
Capitec Bank, cofounded in 1999 by Michiel Le Roux, Jannie Mouton, and Riaan Stassen, has solidified its position over the past two decades, building a substantial customer base. With more than 850 branches and 7,400 ATMs across South Africa, the bank has become a top retail banking brand globally.
In recent months, Capitec Bank’s share price on the JSE has gained 5.45 percent, rising from R2,095.79 ($113.61) on March 28 to R2,210 ($119.81) at the time of writing. This surge has pushed its market capitalization above $14 billion and returned value to shareholders.
Tshepo Mahloele’s Capitec Bank stake soars to $1 billion
Tshepo Mahloele, chairman and founder of Lebashe Investment Holding Group, a 100 percent Black-owned investment firm, holds an indirect 7.26 percent stake in Capitec Bank Ltd. through Lebashe. This translates to 8,409,802 ordinary shares.
The recent surge in Capitec’s share price has boosted the market value of Mahloele’s holding by R960.48 million ($52.07 million) to R18.58 billion ($1.005 billion) as of this writing, up from R17.63 billion ($955.47 million) on March 28.
Tshepo Mahloele’s position as a leading South African banker is further solidified by this impressive surge, cementing his status as one of the Johannesburg Stock Exchange’s most prominent investors.
