Malawian Businessman, Hitesh Anadkat Faces $16 Million Loss as FMB Capital Shares Decline

Hitesh Anadkat, one of Malawi’s wealthiest individuals, has lost approximately $16 million due to a recent drop in the share price of FMB Capital Holdings, a Mauritius-based investment business in which he owns a large part.

Anadkat’s investment in FMB Capital has decreased by MWK 27.79 billion ($15.99 million) in the last six days. The fall is due to selling pressure on the Malawi Stock Exchange.

Anadkat’s investment in FMB Capital increased by MWK 27.79 billion ($15.99 million) between April 8 and 15, but then experienced a recent decline.

FMB Capital Holdings, headquartered in Port Louis, Mauritius, is a notable investment holding company that operates in several African countries, including Botswana, Malawi, Mozambique, Zambia, and Zimbabwe.

The investment group’s share price has dropped by 7.73 percent, from MWK411.88 ($0.237) on April 19 to MWK380.04 ($0.219) at the time of writing. This has resulted in a market value of less than $540 million.

FMB Capital Holdings, founded by Hitesh Anadkat in 1995, has had a significant impact on the region’s financial scene. Anadkat currently owns 35.51 percent of the Mauritius-based investment organization, equivalent to 872,924,575 ordinary shares.

The recent market decline has cut the market value of Anadkat’s stock by MWK 27.79 billion ($15.99 million) in the last week, down from MWK359.54 billion ($206.81 million) on April 19 to MWK 331.75 billion ($190.82 million).

Despite this loss, Anadkat remains one of the richest investors on the Malawi Stock Exchange and a notable figure among the country’s most successful entrepreneurs.

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