KEY POINTS
- Hitesh Anadkat’s FMB stake tops $1.4 billion.
- His holdings rose by $250 million in two weeks.
- FMB shares are up nearly 320 percent this year.
Malawian billionaire Hitesh Anadkat has seen his fortune swell by $250 million in just two weeks as shares of FMB Capital Holdings extended their rally on the Malawi Stock Exchange. The surge has boosted the value of his stake in the regional banking group to about $1.4 billion, signalling fresh investor confidence in one of Southern Africa’s fastest-rising financial institutions.
Anadkat, who founded FMB Capital in 1995, holds a 45.32 percent stake in the company, equivalent to roughly 1.11 billion shares. Recently, the value of his holdings has climbed from MWK2.12 trillion ($1.22 billion) to MWK2.56 trillion ($1.48 billion). The gain builds on an earlier increase of about $160 million between late August and mid-September, reinforcing the steady momentum behind his growing wealth.
FMB shares surge over 320 percent
The group’s stock has been one of the standout performers on the exchange this year. FMB’s share price rose from MWK1,898.84 ($1.09) to MWK2,299.98 ($1.33), lifting its market capitalisation to MWK5.65 trillion ($3.26 billion). The rise has drawn attention from investors who have long viewed African equities as relatively illiquid but are now taking a second look amid signs of stability and sustained returns.
Hitesh Anadkat’s FMB stake tops $1.4 billion following this rally, further cementing his position as one of Southern Africa’s wealthiest financiers. Analysts say the rise reflects not only improved sentiment toward FMB Capital’s business model but also growing regional interest in African financial markets that have shown resilience in a turbulent global economy.
From Blantyre roots to regional expansion
Founded nearly three decades ago in Blantyre, Malawi’s commercial hub, FMB Capital has evolved from a small lender into a cross-border financial powerhouse with operations in Mozambique, Zimbabwe, Zambia, and Botswana. The group’s growth reflects Anadkat’s focus on disciplined banking and sustainable expansion—principles that have guided the institution through currency volatility, regulatory shifts, and changing investor expectations.
So far in 2025, FMB Capital shares have soared nearly 320 percent, according to Billionaires Africa. A $100,000 investment at the start of the year would now be worth about $418,000, highlighting the scale of the rally and the renewed faith in the group’s strategy and leadership.
