Table of Contents
Key Points
- Hitesh Anadkat’s stake in FMB Capital surpasses $900 million after strong share price rally on the Malawi Stock Exchange.
- FMB Capital’s market value now exceeds $1.9 billion, ranking it among Malawi’s most valuable publicly traded firms.
- The stock has surged 152% year-to-date, attracting investor interest in African banking groups with regional presence and consistent earnings.
Malawian banker Hitesh Anadkat has watched the value of his stake in FMB Capital Holdings climb to more than $900 million, thanks to a sharp rise in the company’s share price on the Malawi Stock Exchange. The gain strengthens his position as the country’s richest individual.
Anadkat, who founded FMB Capital in 1995, holds a 45.32 percent stake—equivalent to 1.11 billion shares. In the past week alone, the value of his stake surged by nearly $96 million, climbing from MAD1.39 trillion ($805.54 million) to MAD1.56 trillion ($901.49 million).
That increase comes on the heels of another $96.25 million gain between June 27 and July 2, when his holdings rose from $642.60 million to $738.85 million. It marks a steady stretch of strong market performance for the financial group.
Market cap tops $1.9 billion
FMB Capital has come a long way since its founding nearly three decades ago. What began as a local bank in Malawi has grown into a regional financial group with operations in Mozambique, Zimbabwe, Zambia, and Botswana. Its headquarters in Mauritius offer regulatory advantages and easier access to capital flows across the region, factors that have made it attractive to investors focused on African financial markets.
In the past seven days alone, FMB Capital’s share price has risen by nearly 12 percent, climbing from MWK1,251.01 ($0.72) on July 27 to MWK1,400.01 ($0.81) at the time of this report. The company’s market capitalization now stands at over $1.9 billion, making it one of the most valuable firms listed on the Malawi Stock Exchange. For Anadkat, the rally has further widened the gap between him and Thom Mpinganjira, the country’s second-richest man.
FMB Capital gains on investor interest
At the time of drafting this report, FMB Capital is the second most valuable company on the Malawi exchange this year, with a year-to-date return of 152.25 percent. To put that into perspective, a $100,000 investment at the start of 2025 would now be worth $252,250.
With global investors increasingly turning their attention to Africa’s frontier markets, stocks like FMB Capital are drawing interest from those looking for real value in fast-changing, often overlooked financial landscapes.
The company’s rise reflects broader investor interest in African banking stocks—especially those with a presence in more than one country and a record of stable earnings. FMB Capital checks both boxes. Its consistent performance and regional reach have made it a compelling pick for long-term investors looking for growth outside traditional markets.
