Table of Contents
Key Points:
- Tshepo Mahloele’s stake in Capitec Bank rebounds above $1 billion, up $98 million in just six days.
- Lender’s shares jump nearly 10% on Johannesburg Stock Exchange, pushing market cap over $15 billion.
- Capitec’s strong year-to-date performance (up 17%) reflects investor confidence in the leading retail bank.
South African businessman Tshepo Mahloele’s stake in Capitec Bank has rebounded above $1 billion, marking a gain of more than $98.26 million in just six days. This surge comes as the lender’s shares experience a strong rally on the Johannesburg Stock Exchange (JSE).
According to data tracked by Billionaires.Africa Mahloele’s stake in Capitec Bank has grown by R1.8 billion ($98.3 million) over the past six days. This reflects renewed investor interest in the leading retail bank’s shares on the JSE.
Capitec Bank’s strong footing in retail banking
Founded in 1999, Capitec Bank has established a dominant position in the South African market over the past two decades. With a vast network of 850 branches and 7,400 ATMs, it ranks as a leading global retail banking brand.
Over the past six days, Capitec Bank shares on the JSE have surged by 9.94 percent, climbing from R2158.6 ($117.58) on June 10 to R2373.1 ($129.27) at the time of writing. This impressive performance has propelled the bank’s market capitalization above the $15 billion mark and delivered substantial gains to shareholders.
Mahloele’s stake strengthens position
Tshepo Mahloele, chairman and founder of Lebashe Investment Holding, holds an indirect 7.26 percent stake in Capitec Bank, equivalent to 8,409,802 ordinary shares. This significant holding solidifies his position as one of South Africa’s leading businessmen and investors.
The recent share price surge has caused the market value of Mahloele’s stake to increase by R1.8 billion ($98.26 million), rising from R18.15 billion ($988.86 million) on June 10 to R19.96 billion ($1.08 billion). This surge further cements Mahloele’s position as a prominent investor on the JSE and a leading figure in South African banking.
Your Money and Your Life
Capitec Bank’s impressive performance is just one example of the many companies delivering strong returns to investors year-to-date. The company’s shares on the JSE have surged 17.11 percent year-to-date, signifying that a $100,000 investment at the start of the year would now be worth $117,110, representing a gain of $17,110.
