Thom Mpinganjira Becomes Malawi's Richest As Fdh Bank Stake Soars To 1.1 Billion

Thom Mpinganjiras FDH Bank stake hits 1.12 billion, making him Malawis richest man and surpassing rival financier Hitesh Anadkat.

FDH Bank shares surge 365, lifting its market value to 2 billion and cementing its spot among Malawis top firms.

The bank posts 715.6 million in assets, with profit after tax up 108 and 20.25 million in dividends paid to shareholders.

Thom Mpinganjira, the Malawian banker and entrepreneur who built one of the countrys most formidable financial institutions from the ground up, has reached a milestone no Malawian before him has achieved: a billion-dollar stake in a publicly traded company.

His indirect holdings in Blantyre-based FDH Bank Plc have surged to a market value of over 1.1 billion, cementing his position as Malawis richest man and placing him ahead of Indian-Malawian financier Hitesh Anadkat, the majority shareholder of FMB Capital. The rise marks a defining moment for both Mpinganjiras career and Malawis financial markets.

According to recent market data tracked by Billionaires.Africa , the value of Mpinganjiras indirect stake in FDH Bank has soared by MWK1.52 trillion 877.7 million since the start of the year, climbing from MWK416.6 billion 240.5 million on Jan. 1 to MWK1.94 trillion 1.12 billion at the time of drafting this report.

The surge is driven by a strong rally in the banks shares on the Malawi Stock Exchange, which have soared 365 percent so far this yearfrom MWK148.23 0.085 in January to MWK689.28 0.397 per share. That jump has lifted FDH Banks market capitalization to MWK3.44 trillion 2 billion, placing it among the top three most valuable companies in Malawi.

Mpinganjiras stake in the lender is held through M Development, his investment firm, which owns 55 percent of FDH Financial Holdingsthe parent company of FDH Bank. FDH Financial Holdings in turn holds 74.05 percent of the bank, giving Mpinganjira indirect control of more than 2.81 billion shares, equal to a 40.73 percent stake. This ownership structure not only cements his role at the heart of the bank but also explains the size of his latest windfall.