Two new billionaires emerge from Africa’s stock markets in August 2025
Malawi’s Thom Mpinganjira and Egypt’s Hisham Talaat Moustafa join Africa’s billionaire list after major stock gains in August.
Malawian banker
Malawian tycoon Hitesh Anadkat’s stake in FMB Capital tops $700 million again
Hitesh Anadkat’s FMB Capital stake rises to $738.85 million as shares rally 15% in four days, adding $96 million to his fortune.
Malawian banker Hitesh Anadkat makes $73 million from FMB Capital stake
Hitesh Anadkat holds a 45.32-percent stake in the Mauritius-headquartered financial group, equivalent to 1.11 billion shares.
Malawi’s richest man sees $89 million decline in FMB Capital stake
The continued slide in the company’s share price on the Malawi Stock Exchange has dragged down his holdings significantly.
Noel Mkulichi: 7 career-defining milestones of the Malawian banker
Noel Mkulichi transformed FDH Bank, boosting its market cap to $1.26 billion while advancing fintech, expanding financial inclusion, and reshaping Malawi’s banking sector.
Malawian banker Noel Mkulichi leads FDH Bank to $1.25 billion valuation
With over two decades of experience in financial regulation and banking, Mkulichi has shaped Malawi’s financial sector.
Meet Noel Mkulichi: Malawian banker behind billion-dollar lender, FDH Bank
Mkulichi’s leadership isn’t just about financial performance—he is deeply committed to financial inclusion, gender equality, and youth empowerment.
Malawian tycoon Hitesh Anadkat’s stake in FMB Capital falls below $200 million
This adds to a $6-million decrease in the value of his holding between Feb. 1 and March 9.
One of Malawi’s richest men, Thom Mpinganjira loses $8 million in 32 days
Mpinganjira, the founder of the FDH Bank Plc, owns a 40.7-percent indirect stake in the Blantyre-based lender.
One of Malawi’s richest men, Hitesh Anadkat, gains $20 million from FMB Capital
The $20.76-million surge has solidified Anadkat’s position as one of the wealthiest investors on the Malawi Stock Exchange.
Hitesh Anadkat, one of Malawi’s richest men, loses $22.65 million in 21 days
Anadkat presently owns an impressive 35.51-percent stake in FMB Capital, which translates to 872,924,575 ordinary shares.
Hitesh Anadkat, one of Malawi’s richest men, loses $64 million in two days
Anadkat presently holds an impressive 35.51-percent stake in FMB Capital, which translates to 872,924,575 ordinary shares.
Hitesh Anadkat, one of Malawi’s richest businessmen, amasses $73-million fortune in one year through FMB Capital stake
Anadkat’s stake in FMB Capital has risen significantly, firmly establishing him as one of Malawi’s richest men.