Malawian tycoon Thom Mpinganjira sees FDH Bank stake fall by nearly $100 million 

Malawian businessman, banker and entrepreneur Thom Mpinganjira has seen the value of his stake in FDH Bank fall by nearly $100 million as the lender’s shares come under pressure on the Malawi Stock Exchange. 

The decline reflects broader selling across the local market, limited liquidity and weaker investor confidence as Malawi continues to grapple with a difficult economic environment.

FDH Bank shares fall 11.46% 

Mpinganjira, the founder of FDH Bank and a prominent figure in Malawi’s financial sector, owns 55% of FDH Financial Holdings through his investment firm, M. Development. FDH Financial Holdings, in turn, owns 74.05% of FDH Bank, giving Mpinganjira indirect control of more than 2.81 billion shares, or about 40.73% of the lender. 

Market data tracked by Shore Africa shows that the value of his holding has fallen by MWK170.85 billion ($98.41 million) following an 11.46% decline in FDH Bank’s share price. 

FDH shares fell from MWK530.72 ($0.31) to MWK469.89 ($0.27), reducing the bank’s market capitalization to about MWK3.24 trillion ($1.87 billion). 

As a result, the value of Mpinganjira’s stake dropped from MWK1.49 trillion ($858.63 million) on June 29 to MWK1.32 trillion ($760.21 million). 

The latest decline follows an earlier drop in Mpinganjira’s wealth. Between Jan. 1 and May 26, his fortune fell by about $80 million to $890 million as the value of his FDH-related holdings weakened.

FDH Bank has historically been one of the stronger performers on the Malawi Stock Exchange, having gained substantially since its 2020 initial public offering. But like other listed financial stocks, it has faced selling pressure as investors reassess valuations and risk in the local market. 

FDH Bank reports stronger earnings 

Despite the pressure on its share price, FDH Bank has continued to report strong financial results. 

For the six months ended June 30, 2026, the bank reported profit after tax of MWK86.42 billion ($49.78 million), a 43% increase from the same period a year earlier. Revenue rose 55% to MWK221.43 billion ($127.55 million), from MWK143.22 billion ($82.5 million). 

Total assets also increased to MWK1.84 trillion ($1.06 billion), compared with MWK1.25 trillion ($723.65 million) in the first half of 2025. 

The bank has also expanded outside Malawi following the acquisition and operational rollout of FDH Bank Mozambique, which management expects to support growth in trade finance and foreign-currency revenue.

Mpinganjira remains a major shareholder 

FDH Bank remains one of Malawi’s leading lenders and has built a large domestic banking network since its 2020 initial public offering. As of 2020, the bank had 53 branches and 91 automated teller machines across the country’s 27 districts.

The recent share-price decline has reduced the value of Mpinganjira’s holdings, but he remains one of Malawi’s most prominent businessmen and a major shareholder on the local exchange.