Malawian billionaire Hitesh Anadkat’s FMB stake surges above $1.4 billion

Malawian billionaire Hitesh Anadkat has gained $250 million in just two weeks as shares of FMB Capital Holdings continue their impressive run on the Malawi Stock Exchange. The rally has lifted the value of his stake in the regional financial group to about $1.4 billion, signaling renewed investor confidence in one of Southern Africa’s fastest-growing banking institutions.

Anadkat, who founded FMB Capital in 1995, owns about 45.32 percent of the group—1.11 billion shares. His holdings have climbed from MWK2.12 trillion ($1.22 billion) to MWK2.56 trillion ($1.48 billion) in recent weeks. This follows an earlier jump of around $160 million between late August and mid-September, marking a steady rise in his overall fortune.

From Blantyre roots to billion-dollar banking force

What began nearly three decades ago as a small commercial lender in Blantyre, Malawi’s business hub, has grown into a regional player with operations in Mozambique, Zimbabwe, Zambia, and Botswana. The group’s expansion reflects Anadkat’s long-term focus on sustainable banking and prudent management—qualities that have helped the company weather economic shifts across African markets.

FMB Capital’s stock has been one of the top performers on the exchange this year. Its share price climbed from MWK1,898.84 ($1.09) to MWK2,299.98 ($1.33), pushing its market capitalization to MWK5.65 trillion ($3.26 billion). That gain alone has turned heads among investors who typically view African equities as relatively illiquid.

FMB shares are up nearly 320 percent this year

So far in 2025, the group’s shares are up nearly 320 percent—a rare outcome in regional markets. For context, a $100,000 investment in FMB Capital stock at the start of the year would now be worth about $418,000. The surge underscores both the company’s growing appeal and the confidence local and regional investors are placing in its leadership.