South African businessman Tshepo Mahloele has achieved notable financial success this year, attributed to his indirect stake in Capitec Bank, which has exceeded $1.3 billion. This surge has positioned him among Africa's billionaires, reflecting a substantial increase in his wealth.
Since the start of 2024, Mahloele's indirect stake in Capitec Bank has appreciated by R7.14 billion ($397 million). This significant rise is driven by a robust increase in Capitec Bank's share price, reflecting heightened investor interest on the Johannesburg Stock Exchange (JSE) .
Capitec Bank's shares surge 41.9 percent, market cap hits $17 billionCapitec Bank , which was co-founded in 1999 by Michiel Le Roux, Jannie Mouton, and Riaan Stassen, has become a leading retail banking institution over the past two decades. The bank boasts over 850 branches and 7,400 ATMs across South Africa, earning its place among the top global retail banking brands.
Since Jan. 1, Capitec Bank's shares on the JSE have surged by 41.9 percent, climbing from R2,026.36 ($112.6) to R2,875.82 ($159.8). This rise has propelled the bank's market cap to above $17 billion, delivering substantial gains to its shareholders.
