South African billionaire businessperson Jannie Mouton, founder of investment holding firm PSG Group, has seen the market value of his position in Capitec Bank fall by millions of dollars as the bank’s shares on the Johannesburg Stock Exchange (JSE) have dropped.
Mouton’s investment in Capitec Bank has dropped by R1.08 billion ($57.36 million) in the last five days, as investors on the local stock exchange continue to sell their shares in the financial services provider.
Capitec Bank is a top financial organization in South Africa, with one of the largest customer bases. Over the last 20 years, it has established itself as a trusted retail banking brand, with 856 branches and 7,436 ATMs.
Over the previous five days, Capitec Bank’s shares on the JSE have decreased by 8.07 percent, from R2,220.29 ($117.7514) on April 8 to R2,041.07 ($108.2466), resulting in losses of millions of dollars for stockholders, including Jannie Mouton.
Jannie Mouton, co-founder of Capitec Bank with Michiel Le Roux and Riaan Stassen, owns a 5.11 percent ownership in the company through the J.F. Mouton Family Trust. This holding translates to 6,034,518 shares, which are presently worth around $653.2 million.
Mouton’s holding has lost R1.08 billion ($57.36 million) in value in the last five days as Capitec’s share price has fallen by a single-digit percentage. On April 8, 2024, his stock was valued at R13.40 billion ($710.61 million), but it has subsequently dropped to R12.32 billion ($653.25 million).
Despite the setback, Mouton remains one of the most affluent investors on the JSE and one of South Africa’s wealthiest persons.
