Tshepo Mahloele, a South African businessman, has seen his wealth increase significantly when the market value of his indirect holding in Capitec Bank (CPT) reached $1 billion. This spike is due to increasing investor interest in the biggest retail banking firm.
Mahloele’s Capitec shares reflect the retail bank’s recent share price increase on the Johannesburg Stock Exchange. Over the last 12 days, the market value of his investment has risen by R960.48 million ($52.07 million), to R18.58 billion ($1.005 billion) as of this report.
This current rise adds to Mahloele’s long history of stable growth. From February 28 to March 27, the market value of his indirect holding in Capitec Bank increased by $39.32 million, from R16.82 billion ($883.12 million) to R17.57 billion ($922.45).
Michiel Le Roux, Jannie Mouton, and Riaan Stassen cofounded Capitec Bank in 1999, and it has consolidated its position over the last two decades, attracting a large customer base. With over 850 locations and 7,400 ATMs in South Africa, the bank has established itself as a global leader in retail banking.
In recent months, Capitec Bank’s share price on the JSE has increased by 5.45%, from R2,095.79 ($113.61) on March 28 to R2,210 ($119.81) as of writing. This spike has increased its market capitalization to over $14 billion and returned value to owners.
Tshepo Mahloele, chairman and founder of Lebashe Investment Holding Group, a 100% Black-owned investment firm, owns an indirect 7.26 percent ownership in Capitec Bank Ltd. via Lebashe. This amounts into 8,409,802 ordinary shares.
The recent rise in Capitec’s share price has increased the market value of Mahloele’s holding by R960.48 million ($52.07 million) to R18.58 billion ($1.005 billion) as of this writing, up from R17.63 billion ($955.47 million) on March 28.
Tshepo Mahloele’s position as a top South African banker is strengthened by this spectacular rise, establishing his status as one of the Johannesburg Stock Exchange’s most famous investors.
