Table of Contents
Key Points
- Malawi’s Thom Mpinganjira’s stake in FDH Bank surged from $240.5 million in January to $1.12 billion after a 365% stock price rally.
- Egypt’s Hisham Talaat Moustafa’s TMG stake hit $1.04 billion after an $72 million boost from a two-week share price rebound.
- Africa’s billionaire count reached 25 in 2025, up from 20 last year, driven by stock market gains across multiple countries.
Africa’s billionaire ranks swelled once again in August, as two high-profile business leaders—Malawian banker and entrepreneur Thom Mpinganjira and Egyptian real estate king Hisham Talaat Moustafa—crossed the $1 billion threshold, buoyed by their respective company stocks. This follows a year in which Africa’s equity markets have produced an unprecedented wave of wealth creation, with five individuals joining the billionaire class so far in 2025.
Mpinganjira, Moustafa gain on market rallies
According to recent data from Billionaires.Africa, Mpinganjira’s wealth surge is closely tied to the strong performance of Blantyre-based FDH Bank Plc, where he holds a major indirect stake through his investment firm, M Development. The firm owns 55 percent of FDH Financial Holdings, the parent company of FDH Bank, which in turn controls 74.05 percent of the bank. This structure gives Mpinganjira an indirect holding of more than 2.81 billion shares—about 40.73 percent of FDH Bank’s total equity.
The value of that stake has jumped sharply this year, climbing from MWK416.6 billion ($240.5 million) in January to MWK1.94 trillion ($1.12 billion) as of August. That $878.9 million increase reflects a remarkable 365 percent surge in FDH Bank’s share price on the Malawi Stock Exchange, from MWK148.23 ($0.085) at the start of the year to MWK689.99 ($0.398) in recent weeks. This rally has pushed FDH Bank’s market capitalization to MWK4.76 trillion ($2 billion), making it Malawi’s most valuable publicly traded company.
In Egypt, Hisham Talaat Moustafa, chairman and largest shareholder of Talaat Moustafa Group (TMG), also joined the billion-dollar ranks after a sharp rebound in his company’s share price on the Egyptian Exchange. TMG, Egypt’s largest real estate developer, has attracted renewed investor confidence thanks to ongoing expansion, high-profile projects, and rising demand from buyers. Between July 30 and August 11, the value of Moustafa’s 43.5 percent stake rose by EGP 3.49 billion ($72.04 million), bringing his holdings to EGP 50.27 billion ($1.04 billion).
Stock gains across Africa produce fresh billionaires
The rise of Mpinganjira and Moustafa adds another chapter to what has already been a landmark year for African wealth creation through public markets. In March, Morocco’s real estate mogul Anas Sefrioui and South Africa’s Jannie Mouton returned to the billionaire ranks.
Two months later, South African tech entrepreneur Zak Calisto—who turned his start-up vehicle tracking business, Karooooo Ltd., into a global mobility analytics company—joined the list. With these latest additions, Africa’s billionaire count now stands at 25, up from 20 a year ago, reflecting not only personal triumphs but also a broader shift in the continent’s capital markets.
Back in March, Billionaires.Africa reported that the combined net worth of Africa’s billionaires climbed to $105 billion, from $82.4 billion in 2024. The arrival of Thom Mpinganjira and Hisham Talaat Moustafa shows how equity markets remain a powerful driver of wealth across the region. It’s a sign of rising investor confidence, and a reminder of how homegrown business leaders are taking an ever-bigger role in shaping Africa’s economic story.
