Capitec Bank's empowerment shareholding is set for a shake-up as investment group Lebashe Investments says it is in talks to increase its stake in one of the fastest-growing lenders by snapping up shares from its remaining black shareholders. Lebashe, which includes prominent black businessmen such as former deputy finance minister Jabu Moleketi, is buying the remaining 1.6 million shares in the bank valued at about R1.4-billion from the bank's empowerment consortium, Coral Lagoon Investments. In 2007, Capitec issued 10 million shares to the consortium, which included ANC-connected individuals like former Johannesburg mayor Parks Tau's wife, Pilisiwe Twala-Tau and Gugu Mtshali, wife of former president Kgalema Motlanthe. At the time of the investment, Coral Lagoon paid R300-million for the 12.2% stake in Capitec at R30 a share. In 2012, the PIC's Isibaya Fund bought part of Coral's stake and sold it to Lebashe three years later, making it the biggest black shareholder in Capitec. At...
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