Home » South African tycoon Tshepo Mahloele’s stake in Capitec Bank hits $1.2 billion

South African tycoon Tshepo Mahloele’s stake in Capitec Bank hits $1.2 billion

The recent surge in Tshepo Mahloele's fortune builds on an earlier gain of $98.26 million recorded between June 10 and 16.

by Timilehin Adejumobi
Tshepo Mahloele

Key Point


  • Tshepo Mahloele’s stake in Capitec Bank surges to $1.2 billion, rising by $126.36 million.
  • The lender’s shares surged 11.51% on the Johannesburg Stock Exchange, pushing its market cap close to $17 billion.
  • Capitec Bank delivers an impressive year-to-date gain of 30.59% to investors.

South African businessman Tshepo Mahloele has seen the market value of his stake in Capitec Bank, one of the continent’s leading retail banks, hit $1.2 billion. This increase is driven by the surge in the bank’s share price on the Johannesburg Stock Exchange (JSE).

According to data tracked by Billionaires.Africa, Mahloele’s stake in Capitec Bank has gained an additional R2.3 billion ($126.36 million) over the past three weeks. This pushes his holdings to R22.25 billion ($1.22 billion) and solidifies his position as one of South Africa’s wealthiest individuals.

The recent surge in Mahloele’s fortune builds on an earlier gain of $98.26 million recorded between June 10 and 16, when his stake in Capitec Bank grew from R18.15 billion ($988.86 million) to R19.96 billion ($1.08 billion).

Capitec Bank shares climb by 11.51 percent

Founded in 1999, Capitec Bank has established a dominant position in the South African market over the past two decades. With a vast network of 850 branches and 7,400 ATMs, it ranks as a leading global retail banking brand.

Capitec Bank shares on the JSE have surged by 11.51 percent over the past three weeks, reinforcing its status as one of the most valuable stocks on the exchange. The shares climbed from R2,373.10 ($130.57) on June 14 to R2,646.18 ($145.59) at the time of writing, pushing the bank’s market capitalization close to $17 billion.

Tshepo Mahloele’s stake in Capitec Bank hits $1.22 billion

Tshepo Mahloele, chairman and founder of Lebashe Investment Holding, holds an indirect 7.26 percent stake in Capitec Bank, equivalent to 8,409,802 ordinary shares. This significant holding reinforces his position as one of South Africa’s leading businessmen and investors.

The recent uptick in Capitec Bank shares has driven Mahloele’s stake from R19.96 billion ($1.1 billion) on June 14 to R22.25 billion ($1.22 billion), marking a notable increase of R2.30 billion ($126.36 million). This increase solidifies Mahloele’s prominence as an investor on the JSE and a key figure in South African banking.

Your Money and Your Life: Capitec outperforms on JSE, up 30.59% YTD

Capitec Bank (JSE: CPI) has been a standout performer among bank stocks on the Johannesburg Stock Exchange (JSE) this year, delivering impressive gains to shareholders.

Year-to-date, Capitec shares have surged 30.59%, ranking 38th on the JSE in terms of year-to-date performance. This strong performance has fostered optimism for continued growth among investors.

For a hypothetical $100,000 investment made in Capitec at the beginning of 2024, the value would now stand at approximately $130,590, reflecting a gain of $30,590.

You may also like

logo

The world’s premier source of news on Africa’s billionaires and UHNWIs.

Newsletter

Get the daily email to stay informed about African billionaires and UHNWIs. Get informed and entertained, for free.

Latest News

@2024 – Billionaires.Africa. All Rights Reserved.