Malawian banker Hitesh Anadkat makes $73 million from FMB Capital stake

Key Points

• Hitesh Anadkat’s FMB Capital stake surged 13% in a week, boosting his net worth by $73.8 million to $642.8 million.
• FMB Capital’s market value topped $1.4 billion, driven by strong regional expansion across five Southern African countries.
• FMB stock rose 80.18% year-to-date, rewarding investors with gains reflecting growing confidence in African regional banking.

After a difficult few months marked by sharp losses, Malawian banker Hitesh Anadkat is finally seeing things turn around. His stake in FMB Capital Holdings, where he remains the biggest shareholder, has climbed in value—delivering a much-needed lift to his net worth.

Anadkat holds a 45.32-percent stake in the Mauritius-headquartered financial group, equivalent to 1.11 billion shares. Over the past week, the market value of his holdings jumped from MWK986.19 billion ($568.71 million) to MWK1.11 trillion ($642.83 million), a gain of $73.83 million in just seven days.

FMB Capital shares jump 13 percent

FMB Capital Holdings, which Anadkat founded in 1995, has steadily expanded its presence across Southern Africa. The group now operates in Malawi, Mozambique, Zimbabwe, Zambia, and Botswana. Its headquarters in Mauritius provides both regional access and regulatory flexibility, helping the business grow beyond its home market.

The recent rally in FMB Capital’s stock, rising nearly 13 percent from MWK885.11 ($0.51) on June 6 to MWK1,000.01 ($0.58), has not only lifted Anadkat’s wealth but also pushed the group’s market capitalization past $1.4 billion. The strong performance further cements FMB Capital’s position as one of the most valuable companies listed on the Malawi Stock Exchange.

Impressive year-to-date returns

FMB Capital has had an impressive run in 2025, drawing attention from investors after its stock jumped 80.18 percent, one of the best performances on the Malawi Stock Exchange this year. A $100,000 investment in January would now be worth $180,180, adding over $80,000 in gains.

The surge isn’t just about numbers, it reflects renewed interest in regional banking stocks and a growing appreciation for companies with solid financial footing. FMB’s rise also highlights the steady hand guiding it. Under Hitesh Anadkat, the group has been quietly expanding its footprint across Africa, focusing on markets where access to banking services is still growing.