Key Points:
- Tshepo Mahloele’s stake in Capitec Bank dropped $24.8 million as the bank’s share price falls on the JSE.
- The bank’s shares are down 2.36%, pushing its market cap below $15 billion.
- Despite Mahloele’s loss, Capitec shares are up 10.56% year-to-date, highlighting investor faith in the bank’s future.
South African businessman Tshepo Mahloele’s stake in Capitec Bank has experienced a notable downturn, reflecting the recent slump in the shares of the leading retail bank on the Johannesburg Stock Exchange (JSE).
According to data tracked by Billionaires.Africa, Mahloele — who is one of the wealthiest individuals in South Africa — has seen the market value of his stake in Capitec Bank decline by R454.8 million ($24.8 million) in just 17 days as wary investors sell off their stake in the lender.
This decline follows previous gains of $121.77 million recorded between April 22 and May 9, when his stake rose from $915.58 million to $1.04 billion.
Capitec Bank’s market value falls below $15 billion
Founded in 1999 by Michiel Le Roux, alongside Jannie Mouton and Riaan Stassen, Capitec Bank has solidified its position over two decades, amassing a substantial customer base. With over 850 branches and 7,400 ATMs across South Africa, the bank has gained international recognition as a premier retail banking brand.
Capitec Bank shares on the JSE have declined by 2.36 percent, falling from R2,294.4 ($125.3) on May 10 to R2,240.3 ($122.3) at the time of drafting this report. This decrease has pushed the company’s market capitalization below $15 billion, resulting in significant losses for shareholders, including Tshepo Mahloele.
Tshepo Mahloele’s Capitec stake falls as share price drops
Tshepo Mahloele, chairman and founder of Lebashe Investment Holding Group, a 100-percent Black-owned investment holding firm, holds a 7.26-percent indirect stake in Capitec Bank, equivalent to 8,409,802 ordinary shares through Lebashe.
The decline in Capitec Bank’s share price has caused the market value of Mahloele’s stake to fall by R454.8 million ($24.84 million) over the past 17 days, dropping from R19.3 billion ($1.05 billion) on May 10 to R18.84 billion ($1.03 billion) at the time of drafting this report.
Despite the recent decline, Mahloele remains one of South Africa’s wealthiest individuals, maintaining a significant presence as a top investor on JSE. His resilience amid market fluctuations underscores his enduring influence in the country’s financial sector.
Your Money and Your Life
Despite a recent decline in the market value of Mahloele’s Capitec Bank stake, the bank’s share price has nonetheless delivered strong YTD returns, underscoring the resilience of the financial sector.
Capitec Bank shares have surged 10.56 percent YTD, showcasing investor confidence in the leading South African retail bank. A $100,000 investment at the start of the year would now be worth $110,560, reflecting a $10,560 gain.
