Capitec Bank Surge Boosts South African Mogul Tshepo Mahloele’s Fortune by $39M

South African tycoon Tshepo Mahloele’s Capitec Bank ownership has experienced a considerable increase in market value, cementing his status as one of Africa’s wealthiest individuals. This increase is due to increasing investor interest in the biggest retail banking firm.

Over the last 29 days, the market value of Mahloele’s Capitec stock has increased by R748.81 million ($39.32 million). This correlates with the recent increase in Capitec Bank’s share price on the Johannesburg Stock Exchange (JSE).

Michiel Le Roux, Jannie Mouton, and Riaan Stassen co-founded Capitec Bank in March 2001, and it has been a top retail bank in South Africa for the past 20 years. The bank has a large customer base, which is backed by a network of over 850 branches and 7,400 ATMs around the country.

Since February 28, 2024, Capitec Bank’s shares on the JSE have increased by 4.45%. The share price increased from R1,999.61 ($105.01) to R2,088.65 ($109.69) at the time of writing. This spike has pushed Capitec Bank’s market value past $12 billion, cementing its place as the 12th most valuable firm on the JSE.

Tshepo Mahloele, chairman and founder of Lebashe Investment Holding, owns a 7.26 percent indirect investment in Capitec Bank, which is equivalent to 8,409,802 ordinary shares. This strengthens his status as one of South Africa’s most prominent businesses and investors.

Mahloele’s shareholding in Capitec Bank has increased in market value by R748.81 million ($39.32 million) since the share price has risen recently. The valuation increased from R16.82 billion ($883.12 million) on February 28 to R17.57 billion ($922.45 million) as of this writing.

The increase in the value of Mahloele’s stake solidifies his position as one of South Africa’s top billionaire bankers, as well as a major influence among affluent investors on the JSE.

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