Close Menu
TechCentralTechCentral

    Subscribe to the newsletter

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    Facebook X (Twitter) YouTube LinkedIn
    WhatsApp Facebook X (Twitter) LinkedIn YouTube
    TechCentralTechCentral
    • News

      Vodacom’s Maziv deal gets makeover ahead of crucial hearing

      18 July 2025

      Cut electricity prices for data centres: Andile Ngcaba

      18 July 2025

      Takealot taps Mr D to deliver toys, pet food and future growth

      18 July 2025

      ‘Oh, Ani!’: Elon’s edgy bot stirs ethical storm

      18 July 2025

      Trump U-turn on Nvidia spurs talk of grand bargain with China

      18 July 2025
    • World

      Grok 4 arrives with bold claims and fresh controversy

      10 July 2025

      Samsung’s bet on folding phones faces major test

      10 July 2025

      Bitcoin pushes higher into record territory

      10 July 2025

      OpenAI to launch web browser in direct challenge to Google Chrome

      10 July 2025

      Cupertino vs Brussels: Apple challenges Big Tech crackdown

      7 July 2025
    • In-depth

      The 1940s visionary who imagined the Information Age

      14 July 2025

      MultiChoice is working on a wholesale overhaul of DStv

      10 July 2025

      Siemens is battling Big Tech for AI supremacy in factories

      24 June 2025

      The algorithm will sing now: why musicians should be worried about AI

      20 June 2025

      Meta bets $72-billion on AI – and investors love it

      17 June 2025
    • TCS

      TCS+ | Samsung unveils significant new safety feature for Galaxy A-series phones

      16 July 2025

      TCS+ | MVNX on the opportunities in South Africa’s booming MVNO market

      11 July 2025

      TCS | Connecting Saffas – Renier Lombard on The Lekker Network

      7 July 2025

      TechCentral Nexus S0E4: Takealot’s big Post Office jobs plan

      4 July 2025

      TCS | Tech, townships and tenacity: Spar’s plan to win with Spar2U

      3 July 2025
    • Opinion

      A smarter approach to digital transformation in ICT distribution

      15 July 2025

      In defence of equity alternatives for BEE

      30 June 2025

      E-commerce in ICT distribution: enabler or disruptor?

      30 June 2025

      South Africa pioneered drone laws a decade ago – now it must catch up

      17 June 2025

      AI and the future of ICT distribution

      16 June 2025
    • Company Hubs
      • Africa Data Centres
      • AfriGIS
      • Altron Digital Business
      • Altron Document Solutions
      • Altron Group
      • Arctic Wolf
      • AvertITD
      • Braintree
      • CallMiner
      • CambriLearn
      • CYBER1 Solutions
      • Digicloud Africa
      • Digimune
      • Domains.co.za
      • ESET
      • Euphoria Telecom
      • Incredible Business
      • iONLINE
      • Iris Network Systems
      • LSD Open
      • NEC XON
      • Network Platforms
      • Next DLP
      • Ovations
      • Paracon
      • Paratus
      • Q-KON
      • SevenC
      • SkyWire
      • Solid8 Technologies
      • Telit Cinterion
      • Tenable
      • Vertiv
      • Videri Digital
      • Wipro
      • Workday
    • Sections
      • AI and machine learning
      • Banking
      • Broadcasting and Media
      • Cloud services
      • Contact centres and CX
      • Cryptocurrencies
      • Education and skills
      • Electronics and hardware
      • Energy and sustainability
      • Enterprise software
      • Fintech
      • Information security
      • Internet and connectivity
      • Internet of Things
      • Investment
      • IT services
      • Lifestyle
      • Motoring
      • Public sector
      • Retail and e-commerce
      • Science
      • SMEs and start-ups
      • Social media
      • Talent and leadership
      • Telecoms
    • Events
    • Advertise
    TechCentralTechCentral
    Home » Banking » Investec seeks to double its South African client base

    Investec seeks to double its South African client base

    By Adelaide Changole23 February 2022
    Twitter LinkedIn Facebook WhatsApp Email Telegram Copy Link
    News Alerts
    WhatsApp

    Investec, a bank that focuses on high-net-worth individuals in South Africa, is seeking to more than double its client base in the next three to four years, outpacing growth in a moribund economy.

    The lender is aiming to boost the number of private clients to 200 000 from 90 000, Investec Bank CEO Richard Wainwright said in an interview. The firm plans to look beyond chartered accountants, its traditional target, to woo new customers.

    Investec, which is also listed and has operations in the UK, is focusing on accelerating growth after cutting costs, closing unprofitable offices from Australia to Ireland and spinning off its asset management business. That’s helped its shares become the best performing bank stock — with a market value exceeding R15-billion — in Africa and the Middle East in the past year.

    Our strategy is driven by this total dedication to specialisation, being niched and not being everything to everyone

    “Our strategy is driven by this total dedication to specialisation, being niched and not being everything to everyone,” Investec CEO Fani Titi said during the same interview in Johannesburg on Monday. “You operate in select markets and where we do, we have to be excellent because we are not the biggest.”

    Investec says it will also focus on offering trade finance, working capital facilities and transactional banking to smaller companies. The challenge to Investec’s growth will be South Africa’s faltering economy and rising unemployment rates.

    The economy is forecast to expand 1.9% in 2022. That compares to 4.3% for the UK, 5.2% in China and 9.2% in India, underscoring why Investec expects the UK to be its growth engine.

    “The UK for us, overall, offers more growth opportunities, simply because the economy’s bigger and it’s growing faster,” Wainwright said. “South Africa has got its challenges at the macro level.”

    The Investec executives will watch finance minister Enoch Godongwana’s budget proposals on Wednesday to see if he will take concrete decisions that may spur an acceleration in the nation’s economic growth. “We need action, more than any new policy,” Titi said.  — (c) 2022 Bloomberg LP



    Fani Titi Investec Richard Wainwright
    Subscribe to TechCentral Subscribe to TechCentral
    Share. Facebook Twitter LinkedIn WhatsApp Telegram Email Copy Link
    Previous ArticleDStv moves to end password sharing on its streaming service
    Next Article ESET: Ransomware, password guessing top security threats

    Related Posts

    PayShap is getting a huge upgrade

    25 November 2024

    Investec eyes payments market with PayShap integration

    8 November 2024

    Meet the CIO | Investec’s Shabhana Thaver: ‘It’s not just about the tech’

    10 September 2024
    Company News

    Vertiv to acquire custom rack solutions manufacturer

    18 July 2025

    SA businesses embrace gen AI – but strategy and skills are lagging

    17 July 2025

    Ransomware in South Africa: the human factor behind the growing crisis

    16 July 2025
    Opinion

    A smarter approach to digital transformation in ICT distribution

    15 July 2025

    In defence of equity alternatives for BEE

    30 June 2025

    E-commerce in ICT distribution: enabler or disruptor?

    30 June 2025

    Subscribe to Updates

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    © 2009 - 2025 NewsCentral Media

    Type above and press Enter to search. Press Esc to cancel.