Malawian tycoon Thom Mpinganjira's FDH Bank stake grows to $210 million

Timilehin Adejumobi -

Key Points

  • Thom Mpinganjira’s stake in FDH Bank surged by $32.6 million in 18 days, driven by a sharp rise in the bank’s stock.
  • FDH Bank’s market capitalization has surpassed $520 million, positioning it as the fifth most valuable stock on the Malawi Stock Exchange.
  • FDH Bank shares have increased 85.71% this year, making it the top performer on the Malawi Stock Exchange, despite the Kwacha’s devaluation.

Malawian tycoon Thom Mpinganjira has seen a significant increase in his wealth, with the market value of his stake in FDH Bank surpassing $210 million. This solidifies his position as one of Malawi’s richest individuals, amid a buoyant performance in the bank’s stock.

According to data tracked by Billionaires.Africa, Mpinganjira’s stake in FDH Bank has surged by MWK56.12 billion ($32.6 million) in the past 18 days. This increase is attributed to a sustained rise in FDH Bank’s share price on the Malawi Stock Exchange (MSE).

This recent uptick follows an earlier gain of $32.41 million between July 1 and 18, during which the value of his stake grew from MWK 238.85 billion ($137.68 million) to MWK 295.08 billion ($170.09 million).

FDH Bank’s market cap surges above $520 million

FDH Bank, a cornerstone of Malawi’s financial sector, operates under FDH Financial Holdings. It offers a broad spectrum of services including banking, investment management, and advisory services. Founded by Mpinganjira in April 2002, FDH Bank has expanded its reach across Malawi, operating 53 branches and 91 ATMs across all 27 districts as of 2020.

The bank’s stock has been the leading performer on the MSE, with its shares surging by 18.16 percent over the past 18 days, from MWK110.02 ($0.0639) on July 18 to MWK130 ($0.075) at the time of writing, driving its market capitalization to over $520 million. This milestone has firmly positioned FDH Bank as the fifth most valuable stock on the exchange.

FDH Bank stock surge boosts Mpinganjira’s stake by $32.6 million

Thom Mpinganjira’s indirect stake in FDH Bank, amounting to 40.7 percent or 2,808,719,719 shares, affirms his status as one of Malawi’s wealthiest individuals and a prominent investor in the Southern African region.

The recent rise in FDH Bank’s share price has elevated the market value of his stake by MWK56.12 billion ($32.6 million) over the past 18 days, growing from MWK309 billion ($179.34 million) on July 18 to MWK365.1 billion ($211.91 million). This underscores his substantial financial growth in recent times.

Your Money and Your Life

FDH Bank shares have surged 85.71 percent this year, making it the top-performing stock on the Malawi Stock Exchange. However, after factoring in the Malawian Kwacha’s devaluation, the gain drops to 81.85 percent in U.S. dollar terms.

A $100,000 investment in January would now be worth $181,850, reflecting the bank’s strong performance and appeal in a volatile market.