Malawian billionaire Hitesh Anadkat has strengthened his position as the countrys wealthiest individual, with his stake in FMB Capital Holdings now worth more than 1.2 billion. The increase follows a sharp rally in the financial groups shares on the Malawi Stock Exchange, driven by strong investor appetite and the companys wider presence in Southern Africa.
Anadkats holdings reach 1.22 billion
Hitesh Anadkat founded FMB Capital in 1995 and has remained its largest shareholder for three decades. He owns 45.32 percent of the bank, a stake of about 1.11 billion shares. Over the past three weeks, the value of that holding has jumped by nearly 200 million, climbing from MWK1.84 trillion 1.06 billion to MWK2.11 trillion 1.22 billion.