Fani Titi-led Investec targets $139 million share buyback

Key Points

• Investec will execute a $139 million share buyback over 12 months, reinforcing shareholder returns and confidence in long-term financial strength amid uncertainty.
• The firm posted a 5.05% revenue rise to $2.94 billion and a record $1.34 billion operating profit, reflecting resilience in a volatile macro environment.
• Return on equity reached 13.9%, while full-year dividend totaled $0.496 per share, within payout policy and driven by solid capital generation and forex gains.

Investec Group, the Anglo-South African international banking and wealth management conglomerate led by South African executive Fani Titi, has unveiled plans to repurchase shares worth $139 million over the next 12 months, underscoring its ongoing strategy to optimize capital returns and boost shareholder value.

The Johannesburg- and London-listed wealth manager said Tuesday the R2.5 billion ($139 million) buyback aligns with its broader capital management framework and follows a successful R7 billion ($388 million) program launched in late 2022. Set to be executed through open-market purchases, the move signals confidence in its financial strength and long-term outlook amid challenging global conditions.

Resilient earnings power capital return

The buyback announcement comes as Investec posted robust financial results for the full-year ended March 31, 2025, navigating a volatile operating environment with resilience. The group delivered a 5.05 year-on-year increase in revenue, from £2.09 billion ($2.8 billion) to £2.19 billion ($2.94 billion).

Within the group’s medium-term target range of 13 percent to 17 percent, despite an expanded equity base following the previous year’s merger of Investec Wealth & Investment UK with Rathbones, return on equity (ROE) stood at 13.9 percent, meeting its May 2024 guidance, and grew its pre-provision adjusted operating profit by 7.8 percent, surpassing £1 billion ($1.34 billion) for the first time in its history.

Investec has also proposed a final dividend of £0.2 ($0.268) per share, bringing the full-year dividend to £0.365 ($0.496)—translating to a 46.1 percent payout ratio, in line with its 35 percent to 50 percent dividend policy.

Strong balance sheet and sustainability progress under Fani Titi

Since taking the helm in 2018, CEO Fani Titi has steered the firm through strategic transformations. His 0.02 percent shareholding underscores his long-term confidence in Investec’s trajectory and cements his status among South Africa’s leading executives. 

Investec’s net asset value per share climbed to £5.88 ($7.89) in March 2025, up from £5.64 ($7.57) a year earlier, driven by robust capital generation and favorable foreign exchange movements. The group also reinforced its commitment to sustainability, setting a target to facilitate £18 billion ($24.16 billion) in sustainable and transition finance by 2030 as part of its broader ESG agenda.

With a solid capital base, disciplined returns, and an expanding ESG focus, Investec is positioning itself to generate sustained value for shareholders while navigating an evolving global landscape.