Hitesh Anadkat, Malawis richest man and one of East Africas most influential banking figures, has suffered a sharp drop in the value of his holding in FMB Capital Holdings Plc as the lenders shares continue to retreat on the Malawi Stock Exchange.
Anadkat controls a 45.32 percent stake in the regional banking group, equivalent to about 1.11 billion shares. Over the past 16 trading days, the market value of his holding has fallen by MWK296.83 billion, or about 171.22 million. That decline has cut the value of his stake to roughly MWK3.77 trillion 2.17 billion, down from about MWK4.06 trillion 2.34 billion.
Share slump weighs on Anadkats fortune
