Anadkats stake in FMB Capital plunges by 274 million amid a nearly 30 drop in share price over less than three months.
FMB remains Malawis top listed firm, with 1.62 billion in market cap and operations across five Southern African countries.
FMB shares are still up over 80 in 2025, signaling long-term investor confidence despite recent market volatility.
Hitesh Anadkat, Malawis richest man and a top figure in Southern Africas banking community, is facing a significant financial setback. In less than three months, the market value of his stake in FMB Capital Holdings Plc, the banking group he built from the ground up, has dropped by 274 million. This decline follows a sharp fall in the companys share price on the Malawi Stock Exchange , hitting hard at the wealth of a man long seen as a pillar of the regions finance sector.
Anadkat owns 45.32 percent of FMB Capital, which amounts to about 1.11 billion shares. The value of his holding has fallen from MWK1.59 trillion 916.93 million to MWK1.11 trillion 642.97 million. Since March, the share price has dropped nearly 30 percent, sliding from MWK1,426.10 0.82 to MWK1,000 0.58 per share by mid-June.
FMB stands strong despite recent dipWhile many investors across the market have been cautious, taking profits and pulling back, the decline in FMBs stock is especially notable. Despite this recent drop, the banking group remains Malawis most valuable listed company, with a market capitalization of MWK2.81 trillion 1.62 billion.
This recent decline doesnt point to deep problems within the business itself. Rather, it reflects a broader shift in market sentiment. FMB Capital continues to play a major role in banking across Southern Africa, with operations in five countries, including Zimbabwe and Mozambique. Headquartered in Mauritius, the group has grown into one of the regions most important cross-border banking networks. Since founding the banking group in 1995, Anadkat has guided its growth and helped shape not only FMBs strategy but also Malawis financial landscape.
When Anadkat started out, he saw a chance to respond to Malawis evolving economy and moved quickly to establish the bank. He focused on building a solid foundation, leaning on local talent and a disciplined financial approach. Over the years, FMB gained a reputation for both its reach and its reliability. Anadkat, in turn, earned respect as one of the most trusted voices in the regions financial circleswhich is why even a small drop in performance raises eyebrows.