Tshepo Mahloele
By Thys Khiba – South Africa billionaire and a prominent investment banker Tshepo Mahloele has seen a remarkable decline in his stake in the South African second largest retail bank, Capitec Bank since the start of the year, 2023.
Billionaire Tshepo Mahloele loses $92m from Capitec
Mahloele’s stake in Capitec has slumped by R1.76 billion ($92.7 million) since 01 January; this decline is attributed to the recent downturn in the bank’s shares on the Johannesburg Stock Exchange (JSE).
Since the beginning of 2023, Capitec Bank shares on the JSE have decreased by 11.26 percent, falling from R1,858.57 ($$97.94) on 01 January to R1,6.649.23 ($86.91) at the time of writing.
This has led to substantial financial losses for shareholders, including Mahloele, who owns an amount of stock in the group. As a result of the significant double-digit decline in CapitecBank’s shares, the market value of Mahloele’s stake in the retail bank has declined by R1.76 billion ($92.7 million) since the start of the year, falling from R15.63 billion ($823.7 million) on 01 January to R13.87 billion ($730.91 million) on 18 August.
Mahloele is the presiding chairman and founder of LebasheInvestment Holding Group and founding CEO of Harith General Partners, holds a 7.26 percent indirect stake, translating to 8,409,802 ordinary shares in Capitec Bank.
Lebashe is a 100% black-owned unlisted investment holding company with an experienced, multi-faceted management team.
Recently, Lebashe announced that they have partnered with the management buyout (MBO) team of Mara Phones South Africa. Mara Phones South Africa is a proudly South African tech-centric company and manufacturer of smartphone devices with a state-of-the-art manufacturing plant located in the Dube Trade Port in Durban.
Lebashe are the owners of Arena Holdings (Pty) Ltd that house all its content, broadcasting, and media assets, following the successful conclusion of a R1,05 billion transaction with TisoBlackstar.
He continues to retain his position among the ranks of SA’s elite billionaire bankers, underscoring his enduring influence within the JSE.
Under Mahloele’s leadership, Harith has invested in signature infrastructure assets, including MainOne, a leading digital communication company in West Africa; Dark Fibre Africa in South Africa, Henri Konan Bedie Bridge in Cote d’Ivoire, Lake Turkana Wind Farm in Kenya, Lanseria International Airport in South Africa, amongst others.
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