Malawian insurance mogul Vizenge Kumwenda gains $10.8 million from NICO stake
Beyond his investment in NICO Holdings, Kumwenda also owns a 0.17-percent stake in NBS Bank, valued at MWK1.73 billion ($1 million).
Malawi
Malawi’s 15 richest people amass a stunning $1.92 billion fortune
Anadkat and Mpinganjira account for $1.66 billion of the total combined wealth of Malawi’s 15 richest individuals.
Malawi’s 15 richest people
Billionaires.Africa profiles Malawi’s 15 richest business leaders, highlighting their industries, key holdings, and financial impact.
FDH Bank projects $36.2 million profit in Q4 2024, resilient amid Malawi’s economic slowdown
Malawi’s economic slowdown hasn’t deterred FDH Bank, whose strategic focus and cost management continue to deliver robust profitability and growth.
Malawi business tycoon Hitesh Anadkat gains $148.7 million from FMB Capital
This latest surge builds on the strong performance of his stake in 2023, when it increased by MWK178.2 billion ($105.88 million).
Bank owned by one of Malawi’s richest men, Thom Mpinganjira, to pay $4.1-million dividend
The record dividend payout underscores its unwavering dedication to shareholder value and its position as one of the leading groups in Malawi’s financial services industry.
Malawian businessman Hitesh Anadkat loses $16 million as FMB Capital shares drop
Anadkat remains one of the wealthiest investors on the Malawi Stock Exchange and a prominent figure among the country’s most successful businessmen.
Malawian businessman Hitesh Anadkat gains nearly $16 million from FMB Capital
This recent bump in his fortune comes after his stake in FMB Capital Holdings declined by $6 million between Feb. 1 and March 9.
Malawian tycoon Hitesh Anadkat’s stake in FMB Capital falls below $200 million
This adds to a $6-million decrease in the value of his holding between Feb. 1 and March 9.
Malawian businessman Hitesh Anadkat loses $6 million from FMB Capital stake
Despite the recent decline in the market value of his stake, Anadkat retains his position as one of the wealthiest investors on the Malawi Stock Exchange.
Mauritian tycoon Arnaud Lagesse’s IBL nearly doubles half-year revenue to over $1.1 billion
Arnaud Lagesse, along with his siblings Benoit, Hugues, Jean-Pierre, Thierry, and Stephane Lagesse, collectively holds a substantial 16.8-percent joint stake in IBL Group.
One of Malawi’s richest men, Thom Mpinganjira loses $8 million in 32 days
Mpinganjira, the founder of the FDH Bank Plc, owns a 40.7-percent indirect stake in the Blantyre-based lender.
One of Malawi’s richest men, Hitesh Anadkat, gains $20 million from FMB Capital
The $20.76-million surge has solidified Anadkat’s position as one of the wealthiest investors on the Malawi Stock Exchange.