American banking super major JPMorgan Chase, has spent billions of rand buying Capitec shares, cementing its position as one of the lender’s biggest shareholders.

Capitec, which is seen as still having a long runway to grow and gain market share, said on Friday that JPMorgan now owns 8.37% of the group. Based on Friday’s market capitalisation, Capitec is worth about R263bn — making JPMorgan’s stake worth about R22bn...

Subscribe now to unlock this article.

Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).

There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.

Cancel anytime.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.