South African tycoon Jannie Mouton’s Capitec stake slumps by $57.4 million

South African billionaire businessperson Jannie Mouton, founder of investment holding firm PSG Group, has seen the market value of his stake in Capitec Bank decline by millions of dollars amid a recent drop in the bank’s shares on the Johannesburg Stock Exchange (JSE).

According to data tracked by Billionaires.Africa, Mouton’s stake in Capitec Bank has decreased by R1.08 billion ($57.36 million) in the past five days, as investors on the local bourse continue to reduce their holdings in the financial services provider.

Capitec Bank’s shares fall by 8.07 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.

Over the past five days, Capitec Bank shares on the JSE have declined by 8.07 percent, falling from R2,220.29 ($117.7514) on April 8 to R2,041.07 ($108.2466), thus leading to losses amounting to millions of dollars for its shareholders, including Jannie Mouton.

Mouton’s Capitec stake dips below $700 million

Jannie Mouton, co-founder of Capitec Bank with Michiel Le Roux and Riaan Stassen, holds a 5.11-percent stake in the bank through the J.F. Mouton Familietrust. This stake equates to 6,034,518 shares, currently valued at approximately $653.2 million.

Mouton’s holding has declined in value by R1.08 billion ($57.36 million) over the past five days due to a single-digit percentage drop in Capitec’s share price. The value of his stake stood at R13.40 billion ($710.61 million) on April 8, 2024, and has since fallen to R12.32 billion ($653.25 million).

Despite the recent setback, Mouton still holds his position as one of the most affluent investors on the JSE and remains one of the wealthiest individuals in South Africa.