South African billionaire Jannie Mouton gains $28 million from Capitec stake

Key Points

• Jannie Mouton’s Capitec stake rose $28.47 million in 24 days as the bank’s shares rallied on the Johannesburg Stock Exchange.
• Mouton’s Capitec stake has jumped from $1.11 billion to $1.14 billion amid the bank’s steady rally on the Johannesburg Stock Exchange.
• Capitec’s simple digital-first model and low-fee structure continue to attract customers and investors, boosting its market cap to $22.5 billion.

South African billionaire Jannie Mouton, founder of PSG Group, has seen a fresh boost in his fortune thanks to a recent rally in Capitec Bank’s stock. Over the past 24 days, shares of the bank have climbed steadily on the Johannesburg Stock Exchange (JSE), adding R510.76 million ($28.47 million) to the value of Mouton’s stake.

Mouton, who co-founded Capitec with Michiel Le Roux and Riaan Stassen, holds a 5.1 percent stake in the retail bank through the J.F. Mouton Familie Trust. This latest increase follows a $209.1 million gain between April 4 and 24, when the value of his holdings jumped from $850.85 million to just over $1.06 billion.

What’s driving Capitec’s rise?

Capitec has cemented its place in South Africa’s banking sector by keeping things simple: adopting digital-first services and a fee structure that customers can actually understand. With 856 branches and more than 7,400 ATMs across the country, the bank has managed to grow its customer base while keeping costs low.

In the last three weeks alone, Capitec’s share price has risen 2.56 percent, moving from R3,370.53 ($187.85) on May 4 to R3,456.84 ($192.66) on May 29. That gain has propelled the bank’s market cap to $22.5 billion, securing its spot as one of Africa’s most valuable lenders.

Mouton’s holdings have grown in step. Since early May, the value of his stake has increased from R19.96 billion ($1.11 billion) to R20.46 billion ($1.14 billion).

Capitec’s growth reflects bold innovation

Capitec shares have climbed 10.29 percentsince the beginning of the year, beating out many of its local competitors. The recent strength of the rand has played a role too, giving foreign investors more reason to take interest. 

With Capitec pushing ahead on digital tools and services built around its customers, there’s growing attention on Jannie Mouton’s stake—and on the bank’s overall performance—as a sign of how investors feel about the future of South Africa’s retail banking sector.