Malawi's Richest Man Sees 89 Million Decline In Fmb Capital Stake

Hitesh Anadkat has lost nearly 89 million in 25 days as FMB Capital shares slide over 12 on the Malawi Stock Exchange.

Anadkats 45.32 stake in FMB Capital remains significant, still valued at 645 million despite the sharp market pullback.

FMB Capital shares are up nearly 81 year-to-date, highlighting strong long-term gains despite recent volatility.

Malawis richest man, Hitesh Anadkat, is facing another blow to his fortune, with nearly 89 million wiped off the value of his stake in FMB Capital Holdings in less than a month. The continued slide in the companys share price on the Malawi Stock Exchange has dragged down his holdings significantly.

Anadkat, who owns just over 45 percent of FMB Capital, 1.11 billion shares, is not only the banks largest shareholder but also a key figure in the countrys financial sector. Over the past 25 days, the market value of his stake has dropped by MWK153.3 billion 88.9 million. This dip follows an earlier loss between Mar. 11 and April 28, when another sharp decline in the companys stock cost him roughly 183 million.

FMB Capital Holdings , the most valuable company on the MSE with a market capitalization of MWK338.38 trillion 1.42 billion, has faced a rough stretch since mid-March. Its shares have dropped by 12.05 percent in the last 25 days, falling from MWK1,141.47 0.66 to MWK1,003.88 0.58.

The decline reflects growing caution among investors as the company struggles to maintain earlier gains. For shareholders like Anadkat, the drop has been particularly painful, shaving off a large portion of paper wealth accumulated during the companys earlier rally.

Even after the recent dip, Anadkat remains a central player in Malawis financial landscape and retains a commanding influence in FMB Capital. His 45.32-percent stake is still worth over MWK1.12 trillion 645.22 million, reinforcing his long-term position.