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Businessman Piet Mouton gains $125 million in 32 days as Capitec shares surge to all-time high

Capitec is South Africa’s largest lender by number of customers.



Businessman Piet Mouton.

Forty-four-year-old South African businessman PJ (Piet) Mouton and related entities have earned $125.19 million (R1.92 billion) from Capitec in the last 32 days, as shares in the bank surged to an all-time high.

Capitec is South Africa’s largest lender by number of customers. The bank is one of the most reputable banking brands globally, offering transactional banking services and loan products such as term loans, credit facilities and credit cards.

Piet Mouton, a non-executive director in Capitec, holds a beneficial stake amounting to 6,685,622 ordinary shares in the leading retail bank.

The market value of his stake in the South Africa-based bank has increased from R10.25 billion ($667.39 million) on July 19 to R12.17 billion ($792.57 million) as of the drafting of this report today, Aug. 20.

This translates to a gain of R1.92 billion ($125.19 million) for the multimillionaire in 32 days.

Mouton also holds a substantial stake in PSG Group, a South Africa-based investment holding founded by his father, Jannie Mouton, in 1995.

Shares in Capitec have been on a steep rise since March 2020, when the global equity market experienced a massive sell-off due to the risk and uncertainty emanating in the global equity space following the COVID-19 pandemic.

Signs of recovery to pre-pandemic levels, driven by a growth in customer credit and debit transactions and increased deposits owing to a growth in discretionary savings, led to the recent surge in the bank’s share price.

As of press time, 10:40 AM (UTC), Aug. 20, shares in the leading lender were trading at R1,819.96 ($118.54), 26.7-percent higher than its opening price for the year.

The bank’s shares on the Johannesburg Stock Exchange have increased from R1,532.50 ($99.82) on July 19 to R1,819.96 ($118.54) on Aug. 20.

The recent surge in the bank’s shares has accrued a total 18.8-percent gain for shareholders in 32 days.

In its 2021 annual results, Capitec disclosed that its headline earnings decreased by 27 percent to R4.6 billion ($299.36 million), compared to the R6.3 billion ($410.00 million) that was generated in the previous year.

It noted that in the first half of its financial year, earnings decreased by 78 percent owing to the COVID-19 induced lockdown.

Meanwhile, headline earnings in the second half of its financial year increased by 18 percent compared to the previous year.

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Nigerian billionaire Femi Otedola gains $12.7 million from stake in FBNH

FBNH is one of Nigeria’s largest financial services conglomerates.



Femi Otedola. ©Billionaires.Africa

Nigerian billionaire Femi Otedola’s stake in the country’s oldest commercial bank, First Bank of Nigeria Holdings Plc (FBNH), has risen by more than $12 million in recent months, as shares in the financial services group rebounded strongly after falling below key levels.

According to data tracked by Billionaires.Africa, Otedola’s stake in FBNH has increased in value by N5.34 billion ($12.7 million) in the past 54 days, as investors continued to cherry-pick stakes in the commercial banking group after its price fell below N9 ($0.0214) in June.

FBNH is one of Nigeria’s largest financial services conglomerates. It is the non-operating holding company of First Bank of Nigeria Limited, the country’s oldest commercial bank, with active operations in 10 countries.

According to a flurry of trading updates published on the Nigerian Stock Exchange in June, Otedola sold 664,939,764 shares in four separate transactions, reducing his stake in the Nigerian lender from 2,717,282,140 shares, or 7.57 percent, to 2,052,342,376 shares, or 5.72 percent.

Shares in the financial group have increased by 31 percent since June 21, nearly 54 days ago, from N8.4 ($0.02) to N11 ($0.026) at the time of writing, amid renewed buying interest in the bank’s shares on the local bourse.

As a result of the double-digit increase in the shares of FBNH, the market value of Otedola’s 5.72 percent stake in FBNH has increased by N5.34 billion ($12.73 million), from N17.24 billion ($41.12 million) on June 21 to N22.58 billion ($53.85 million) at the time of writing this report.

The recent gains in his stake follow a dividend of N951.05 million ($2.29 million) from his equity stake in the financial services group that he received earlier this year.

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Egyptian billionaire Yasseen Mansour gains $1.86 million in 74 days from Palm Hills stake

Mansou owns a sizable 5.6-percent stake in the Cairo-based real estate firm.



Egyptian billionaire Yasseen Mansour. ©Billionaires.Africa

Egyptian billionaire Yasseen Mansour has recorded a EGP35.6-million ($1.86 million) boost in his net worth in the past 74 days, as shares in Palm Hills Development increased by nearly 19 percent in reaction to the company’s recently released first-quarter results.

Palm Hills Development, an operating subsidiary of Egypt’s largest conglomerate, Mansour Group, is a well-known real estate developer with active investments in Egypt. The company develops integrated residential, commercial, and resort communities.

Mansour, the chairman of Palm Hills Development and one of Egypt’s and Africa’s wealthiest individuals, owns a sizable 5.6-percent stake in the Cairo-based real estate firm.

The Egyptian real estate developer revealed that its profit increased by more than 40 percent in the first quarter of 2022, from EGP217.4 million ($11.36 million) in the first quarter of 2021 to EGP305.8 million ($16 million), owing to sustained growth in demand for properties in Egypt.

As a result of the firm’s strong financial performance, investors on the Egyptian Stock Exchange increased their buying interest in Palm Hills shares, resulting in an 18.6-percent increase in the firm’s stock price from EGP1.13 ($0.059) on June 1 to EGP1.34 ($0.07) on Aug. 14.

Mansour’s 5.6-percent stake in Palm Hills Development has increased in value over the past 74 days, from EGP191.94 million ($10 million) to EGP227.6 million ($11.89 million) at the time of writing.

This equates to a total gain of EGP35.6 million ($1.86 million) for the Egyptian billionaire, who ranks as one of the wealthiest men on the African continent, alongside his brothers Mohamed Mansour and Youssef Mansour, both of whom own Mansour Group and Palm Hills Development.

His net worth is estimated at $1.1 billion, making him one of Africa’s wealthiest businessmen.

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Nigerian billionaire Abdul Samad Rabiu unveils $23.8-million security support fund

It is the single largest donation to a philanthropic cause made by a Nigerian businessman.



Abdul Samad Rabiu. ©Billionaires.Africa

Nigerian billionaire businessman Abdul Samad Rabiu has announced the creation of the N10-billion ($23.8 million) Nigeria Security Support Fund through his philanthropic organization, the Abdul Samad Rabiu Africa Initiative (ASR Africa). He unveiled the project during a meeting with Nigerian President Muhammadu Buhari at the Aso Rock presidential residence in Abuja.

Rabiu launched the initiative to provide security equipment and medical and other supplies to the families of soldiers fighting terrorists in Nigeria’s northeast, and to strengthen local infrastructure.

The contribution marks the single largest donation to a philanthropic cause made by a Nigerian businessman, and follows the $3-million development initiative that Rabiu launched in Niger three weeks ago through ASR Africa. Last week, Rabiu received the Commander of the Order of Merit of Niger Award in recognition of his contributions to the country of Niger and its people.

Rabiu also praised Buhari for creating an enabling environment for businesses to thrive. He cited policies implemented by his administration, which, he said, aided the growth of his manufacturing conglomerate, BUA Group, which is one of the continent’s fastest-growing commercial groups.

He also promised to support the administration’s efforts in industrial development and security.

Rabiu established ASR Africa in April 2021 to promote long-term, impact-driven solutions to developmental issues affecting health, educational, and social development across Africa.

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