Jannie Mouton, the esteemed South African businessman and creator of PSG Group investment holding firm, has witnessed a significant gain in his fortune, thanks to the amazing surge in the value of his interest in Capitec Bank, a leading retail bank in South Africa.
Data collected by billionaires.Mouton’s investment in Capitec Bank increased by R786.72 million ($42.21 million) in the last 16 days due to an increase in the bank’s share price on the Johannesburg Stock Exchange (JSE).
Capitec Bank is a prominent financial institution in South Africa, with one of the largest customer bases in the country. Over the last 20 years, it has established itself as a trusted retail banking brand, with 856 branches and 7,436 ATMs.
The lender’s shares on the JSE increased by 6.35 percent, from R2,054.10 ($110.202) on March 19 to R2,184.47 ($117.196). This spike has pushed the group’s market valuation past $13 billion, resulting in large gains for stockholders.
Jannie Mouton, who co-founded Capitec Bank with Michiel Le Roux and Riaan Stassen, currently has a 5.11 percent ownership in the top retail bank, or 6,034,518 shares, through his Jf Mouton Familietrust.
Mouton’s investment in Capitec Bank increased by R786.72 million ($42.21 million) from R12.4 billion ($665.02 million) on March 19 to R13.18 billion ($707.22 million) due to a recent single-digit percentage increase in share price.
Mouton’s recent increase in ownership cements his position as one of the wealthiest investors on the JSE and South Africa.
