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Investec Group, led by South African executive Fani Titi, has been granted an energy trading license by the National Energy Regulator of South Africa. The approval gives the bank a foothold in the country’s newly liberalized power market as businesses look for relief from rising electricity costs and rolling blackouts.
“This license is more than a regulatory approval—it’s about creating real options for our clients,” said Mpho Modise, Investec’s head of renewable energy trading. “South Africa faces steep tariffs and supply uncertainty. Our goal is to help companies manage those challenges while pushing the transition to cleaner energy.”
Building a new power business
The license allows Investec to expand its portfolio of energy services. The bank will provide companies with access to renewable power without the heavy upfront capital costs usually tied to new projects.
It also opens the door for Investec to work more closely with independent power producers by funding projects, buying power, and arranging wheeling agreements that move electricity across the grid.
Investec’s first procurement will source solar power from the Ilikwa Solar PV facility in the Free State, now under construction and expected to come online in the second quarter of 2026. “For us, this is not only about energy—it’s about resilience and long-term value for our clients,” Modise said.
Broader growth under Titi
Founded in Johannesburg in 1974, Investec employs about 7,400 people across its core markets. The group is listed in both London and Johannesburg. Since taking over as CEO in 2018, Titi has sharpened the group’s international focus, lifting revenue to £1.81 billion ($2.46 billion) in the year ended March 2025, up from £1.78 billion a year earlier.
The bank applied for the license in May, marking its formal entry into South Africa’s private energy sector. It comes at a time when regulators are encouraging competition to ease the country’s chronic power shortages.
Beyond energy, Investec has expanded its advisory arm in Europe. In recent times, it bought a majority stake in Zurich-based mergers adviser Capitalmind AG, rebranding it as Investec Switzerland. The move strengthens its position in continental Europe, where it has operated since 1978.
