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Investec targets $1.7-billion market expansion

Investec is positioning itself for a $1.7-billion market expansion by enhancing its business banking unit with a new payments system for corporate clients.

South African executive Fani Titi

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Key Points

  • Investec targets $1.7-billion market expansion by enhancing business banking with a new payments system. 
  • The bank leverages PayShap to offer streamlined payment services, aiming to capture market share from South Africa's dominant banks.
  • Investec posted a 14.33% profit surge, reaching $1.21 billion in 2024 under Fani Titi's leadership.

Investec Group, the Anglo-South African international banking and wealth management conglomerate led by South African executive Fani Titi, is setting its sights on a $1.7-billion market expansion with the launch of a new payments system aimed at corporate clients.

This initiative is part of Investec’s strategy to secure a larger slice of South Africa’s growing payments ecosystem, where the demand for real-time, low-value payments has surged.

The new system is built to handle high-volume, low-value transactions, which are increasingly critical for corporate clients. Using PayShap, South Africa’s real-time payments platform managed by BankservAfrica, Investec plans to streamline payment processes.

“We’re aiming to position Investec as a leading provider of efficient payment solutions,” said Kuben Naidoo, Investec’s head of corporate payments. Naidoo, who joined the bank in June after a long tenure with the South African Reserve Bank, brings valuable regulatory experience to the role.

Investec taps into $30 billion payment market

In an effort to capture market share from South Africa’s major banks, Investec is initially targeting businesses with annual revenues between R30 million ($1.71 million) and R1.5 billion ($85.56 million). By 2026, the bank aims to offer a comprehensive suite of payment services, including person-to-business and business-to-person options.

Currently, Investec holds a modest 1.2 percent share of the transactional banking market, but it aims to grow that to 5 percent over the next few years, a shift that could position the bank to capture a substantial portion of the $30-billion payment services market in South Africa.

To support this expansion, Investec is testing a “request-to-pay” feature with five corporate clients, set for broader release early next year. PayShap, which was launched to promote financial inclusion and reduce cash dependency, has garnered attention as regulators seek to replicate the success of India’s UPI and Brazil’s PIX systems.

Global expansion and profit growth

Since Titi took the helm in 2020, Investec has seen robust profit growth. In 2024, the group reported a 14.33-percent increase in profits, reaching a record $1.21 billion. The group has also extended its international presence by opening a new office in Dubai, aiming to cater to South African expatriates and wealthy family offices in the region.

Titi, who holds a 0.04-percent stake in Investec valued at R41.25 million ($2.36 million), remains confident in the group’s trajectory. His leadership has solidified Investec’s position as a key player in the international banking sector, and this latest payment system launch signals the firm’s ambitions to further strengthen its corporate banking footprint in South Africa.

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