What is Hitesh Anadkat's net worth in 2026?
Hitesh Anadkat is the richest person in Malawi with an estimated net worth of around $900 million. He is an Indian-Malawian businessman who founded FMB Capital Holdings, the largest financial services group in the country.
His 45.32% stake in FMB Capital is the main source of his wealth. FMB Capital is the most valuable company on the Malawi Stock Exchange, and Anadkat’s ownership makes him comfortably the wealthiest individual in the country.
How FMB Capital built his fortune
FMB Capital started as a building society in the 1990s and grew into a full financial services conglomerate. The company now operates across banking, insurance, asset management, and capital markets. It has operations in Malawi, Mozambique, Zambia, and Zimbabwe.
The Malawi Stock Exchange has grown significantly in recent years, with market capitalization rising to MWK 14.9 trillion. FMB Capital’s share price has tracked this growth, which directly increases the value of Anadkat’s stake. When the stock market does well in Malawi, Anadkat gets richer.
Anadkat has also expanded the business through acquisitions and new product launches. FMB Capital acquired some of the smaller financial institutions in the region, which gave it scale that competitors struggle to match. The company’s diversified financial services model means it earns money from multiple sources rather than depending on one business line.
Indian businessmen in Malawi
Anadkat is one of the wealthiest Indians in Africa, not just in Malawi. The Indian business community has a long history in Malawi, dating back several generations. Many Indian families built businesses in trade, manufacturing, and services during the colonial and post-independence periods.
Other notable Indian businessmen in Malawi include:
- Ramesh Haridas Savjani - Chairman of General Alliance Insurance and a shareholder in Ilovo Sugar Malawi
- The Chheda family - Involved in manufacturing and trading
- The Mehta family - Active in agriculture and real estate
Anadkat stands out because of the scale of FMB Capital. Most Indian businesses in Malawi are smaller, family-owned operations. Building a publicly listed financial services group worth billions of Malawi kwacha is unusual for anyone, regardless of background.
Why net worth estimates vary
Anadkat’s net worth is estimated at $900 million by Forbes Africa and other publications, but these numbers should be treated as approximations. Malawi does not require public disclosure of personal wealth, and most estimates are based on estimated ownership stakes in public and private companies.
The value of Anadkat’s FMB Capital stake changes with the stock price. On a good day, his net worth might be higher than $900 million. On a bad day, it could be lower. The estimate represents a snapshot, not a fixed number.
There is also the question of other assets. Anadkat likely owns real estate, other business interests, and personal investments that are not publicly tracked. His true net worth could be higher or lower than the commonly cited figure.