South African tycoon Tshepo Mahloele’s Capitec Bank stake slips after $1.5 billion milestone

South African tycoon Tshepo Mahloele’s Capitec Bank stake surpasses $1.6 billion, nets $20 million dividend

At a Glance

Tshepo Mahloele’s Capitec stake slipped by $95 million, following a 6.36% drop in share price, reversing gains that had pushed his holding to the $1.5 billion mark in early February.
Capitec Bank’s market cap fell below $20 billion, with shares declining from R3,020 ($165.6) to R3,225 ($176.84), leading to losses for major shareholders, including Mahloele.
Mahloele retains a 7.26% stake in Capitec, valued at $1.39 billion, down from $1.49 billion in February, yet remains among South Africa’s most influential banking billionaires.

South African businessman Tshepo Mahloele, founding CEO of Harith General Partners, has seen his indirect stake in Capitec Bank retreat by nearly $95 million in less than a month, following a recent surge that took the holding to the approximately $1.5 billion mark.

According to finance data gathered by Shore.Africa, Mahloele’s Capitec Bank stake has slumped by R1.72 billion($94.63 million) since February 7, 2025. This decline mirrors the recent downturn in Capitec’s share price on the Johannesburg Stock Exchange(JSE).

The slide comes after Mahloele’s holding enjoyed a significant gain of $50.32 million between January 1 and February 7. During this period, his stake neared $1.5 billion mark, rising from R26.2 billion($1.44 billion).

Capitec Bank’s shares dip by 6.36 percent

Capitec Bank, founded in 1999, and co-founded by Michiel Le Roux alongside Jannie Mouton and Riaan Stassen, has solidified its standing over the past two decades, amassing a substantial customer base. With over 22 million active clients, a network of more than 850 branches and 7,400 ATMs across South Africa, the bank has earned a reputation as one of the world’s top retail banking brands.

Over the past 29 days, Capitec Bank shares on the Johannesburg Stock Exchange have declined by 6.36 percent, falling from R3,020 ($165.6) on February 7 to R3,225 ($176.84) at the time of writing, thus pushing its market cap below $20 billion and leading to substantial financial losses for shareholders, including Tshepo Mahloele who owns a significant stake in the group.

Capitec share price chart as of March 8, 2025 (credit, tradingview)

Mahloele’s stake in Capitec Bank slumps below $1.4 billion

Mahloele, the founder and chairman of Lebashe Investment Holding Group, holds an indirect 7.26 percent stake in Capitec Bank, translating to 8,409,802 ordinary shares.

Due to the recent share price decline, the market value of Mahloele’s stake has fallen by R1.72 billion($94.63 million) in less than 30 days. His stake is currently valued at R25.4 billion($1.39 billion), down from R27.12 billion($1.49 billion) on February 7.

Capitec, in its 2024 fiscal year, posted a net profit of R10.57 billion($579.97 million) in 2024, up 15.47 percent from R9.15 billion($502.28 million). Total assets grew by 8.23 percent to R207.58 billion($11.39 billion) from R191.8 billion($10.53 billion), while retained earnings rose by 13.2 percent to R37.42 billion($2.05 billion) from R33.06 billion(1.81 billion).

Despite this short-term setback, Mahloele remains among South Africa’s elite billionaire bankers. His influence extends beyond the Johannesburg Stock Exchange, as he is also one of the founders of the $630 million Pan African Infrastructure Development Fund (PAIDF).

Feyisayo Ajayi

Feyisayo Ajayi is the Publisher and Co-founder of Shore Africa, the flagship media brand under the Travel Shore umbrella. He brings over a decade of multidisciplinary experience across media, finance, and technology. Feyisayo holds a bachelor’s degree in Geology from the University of Ibadan, Nigeria.