Hitesh Anadkat, one of Malawi’s wealthiest individuals, has seen his fortunes skyrocket as the market value of his interests in Mauritius-based FMB Capital Holdings has increased significantly.
Anadkat’s investment in FMB Capital has climbed by MWK27.82 billion ($15.99 million) in the last seven days, owing to the recent surge in the company’s shares on the Malawi Stock Exchange.
Between February 1 and March 9, his investment in FMB Capital Holdings decreased by $6 million, from MWK368.92 billion ($236.41 million) to MWK359.56 billion ($230.41 million).
FMB Capital Group is an investment holding company with operations in Botswana, Malawi, Mozambique, Zambia, and Zimbabwe. Its headquarters are in Port Louis, Mauritius.
Hitesh Anadkat founded the business in 1995, and it has since emerged as a prominent participant in the region’s financial environment. Anadkat presently owns a large 35.51 percent interest in FMB Capital, equivalent to 872,924,575 ordinary shares.
FMB Capital’s share price on the Malawi Stock Exchange has risen by 8.39%, from MWK 380 ($0.218) to MWK 411.87 ($0.237). This spike has pushed the company’s market capitalization past $580 million, resulting in significant benefits for shareholders.
Anadkat’s investment in FMB Capital has increased in value as a result of the recent share price jump. Over the last seven days, his holdings have increased by MWK27.82 billion ($15.99 million), from MWK331.71 billion ($190.68 million) on April 8th to MWK359.53 billion ($206.68 million) as of this writing.
The market value of Anadkat’s stock increased to $15.99 million, making him one of the wealthiest investors on the Malawi Stock Exchange and a successful businessman.