Hitesh Anadkat, one of Malawi’s richest people, has seen a considerable increase in his money. His investment in Mauritius-based FMB Capital Holdings has increased by more than $30 million, adding to his recent gains.
Anadkat’s investment in FMB Capital surged by MWK57.17 billion ($33.96 million) in 17 days, owing to a recent jump in the group’s shares on the Malawi Stock Exchange, as tracked by Billionaires.Africa.
Anadkat’s fortune climbed by $20.76 million between Jan. 1 and Jan. 16, as the market value of his interest in FMB Capital Holdings increased from MWK274.97 billion ($163.48 million) to MWK309.89 billion ($184.24 million).
FMB Capital Group is an investment holding firm headquartered in Port Louis, Mauritius, that operates in various African countries, including Botswana, Malawi, Mozambique, Zambia, and Zimbabwe.
Anadkat founded the business in 1995, and it has since become a key player in the region’s financial environment. Anadkat currently owns an amazing 35.51 percent of FMB Capital, which equates to 872,924,575 ordinary shares.
Since Jan. 12, FMB Capital Group shares on the Malawi Stock Exchange have increased by 18.45 percent, from MWK 355.01 ($0.211) to MWK 420.50 ($0.249) at the time of writing. This has resulted in significant profits for shareholders, including Anadkat.
The recent jump in the Mauritius-based group’s shares has increased the market value of Anadkat’s investment in FMB Capital. His holdings have grown by MWK57.17 billion ($33.96 million) in the last 17 days, from MWK309.89 billion ($184.08 million) on January 1 to MWK367.06 billion ($218.04 million) at the time of writing.
The latest increase in the market value of Anadkat’s ownership in FMB Capital, which now stands at $33.96 million, cements his position as one of the most wealthy investors on the Malawi Stock Exchange, as well as one of the country’s most successful businesses.
His achievements in banking solidify his position as a key figure in financial services, with his investments in FMB Capital Holdings demonstrating his substantial impact across the continent.