Daily News on African Billionaires and UHNWIs

South African billionaire Jannie Mouton’s Capitec stake dips below $1 billion

Timilehin Adejumobi -
South African billionaire Jannie Mouton’s Capitec stake dips below $1 billion
Key Points
  • Jannie Mouton’s stake in Capitec Bank has fallen to $979.41 million, losing $30.54 million in six days as share prices decline.
  • Capitec Bank’s stock has dropped 3.02% since Feb. 26, erasing Mouton’s recent $46.71 million gain and triggering multimillion-dollar losses for investors.
  • The bank’s shares are down 1.63% year-to-date, reflecting broader financial sector challenges as investors see diminished returns on their holdings.

South African billionaire Jannie Mouton has taken a hit on his stake in Capitec Bank, losing R568.99 million ($30.54 million) in just six days as selling pressures drag down the bank’s shares on the Johannesburg Stock Exchange (JSE).

Mouton’s Capitec stake falls below $1 billion

Mouton, who co-founded Capitec alongside Michiel Le Roux and Riaan Stassen, owns 5.11 percent of the bank through the J.F. Mouton Familietrust. His stake, which was valued at $1 billion on Feb. 26, has now dropped to $979.41 million.

The decline comes after a strong start to the year. Between Jan. 31 and Feb. 13, Mouton saw the value of his holdings climb from R17.59 billion ($950.44 million) to R18.46 billion ($997.16 million), gaining $46.71 million in just two weeks. Now, those gains have been wiped out as the stock pulls back.

Capitec shares fall, investors lose millions

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.

In recent times, Capitec Bank shares on the JSE have seen a decline of 3.02 percent, falling from R3,179.42 ($170.6661) on Feb. 26 to R3,083.27 ($165.5049) at the time of drafting this report, thus leading to losses amounting to millions of dollars for its shareholders, including Mouton.

Jannie Mouton’s Capitec stake declines

Jannie Mouton’s stake in Capitec Bank has taken a hit, losing R568.99 million ($30.54 million) in just six days. His holding, valued at R18.81 billion ($1 billion) on Feb. 26, has dropped to R18.25 billion ($979.41 million) at the time of reporting.

Despite the setback, Mouton remains one of the wealthiest investors on the JSE and among the richest individuals in South Africa. Capitec’s shares are down 1.63 percent since the start of the year, reflecting ongoing challenges in the financial sector. For context, a $100,000 investment in the bank at the beginning of the year would now be worth $98,370—a loss of $1,630.