South African businessman Tshepo Mahloele’s stake in Capitec Bank has rebounded above $1 billion, marking a gain of more than $120 million over the past 17 days as the lender’s shares surge on the Johannesburg Stock Exchange (JSE).
According to data tracked by Billionaires.Africa, Mahloele’s stake in Capitec Bank has risen by R2.26 billion ($121.77 million) amid renewed investor interest in the leading retail bank, cementing his position among South Africa’s wealthiest individuals.
Prior to the recent rally, the market value of Mahloele’s investment had slumped by $77.03 million between April 9 and 22, with the value of his stake dropping from R18.50 billion ($964.42 million) to R17.02 billion ($887.40 million).
Capitec Bank’s market capitalization hits $14 billion
Capitec Bank, founded in 1999, and co-founded by Le Roux alongside Jannie Mouton and Riaan Stassen, has solidified its standing over the past two decades, amassing a substantial customer base. With a network of more than 850 branches and 7,400 ATMs across South Africa, the bank has earned a reputation as one of the world’s top retail banking brands.
Its shares have jumped 13.3 percent on the JSE in the past 17 days, rising from R2,016.66 ($108.69) on April 22 to R2,284.87 ($123.41) at the time of writing. This surge has pushed the bank’s market capitalization significantly above $14 billion.
Mahloele’s stake rebounds above $1 billion again
Mahloele, who is the founder and chairman of Lebashe Investment Holding Group, holds an indirect 7.26-percent stake in Capitec Bank, equivalent to 8,409,802 ordinary shares. The value of his stake has again surpassed the $1 billion mark, the second time this year.
The recent upswing in Capitec Bank’s share price has lifted the value of Mahloele’s stake by R2.26 billion ($121.77 million) in the last 17 days. It has climbed from R16.96 billion ($915.58 million) on April 22 to R19.22 billion ($1.04 billion) as of this writing.
This surge further solidifies Tshepo Mahloele’s position as a leading South African banker and a prominent investor on the JSE. He is also one of the founders of the $630 million Pan African Infrastructure Development Fund (PAIDF).
