Investec, led by Fani Titi, seeks electricity trading license

Key Points

• Investec seeks NERSA license to trade solar power from Illikwa PV Facility, marking its entry into South Africa’s deregulated electricity market. 
• Lender plans to wheel renewable energy via Eskom grid to Sandton HQ, cutting emissions without infrastructure ownership. 
• CEO Fani Titi positions Investec to broker corporate PPAs, supporting energy security and clean power growth across the private sector.

Investec Group, the Anglo-South African international banking and wealth management conglomerate led by South African executive Fani Titi, has applied to South Africa’s National Energy Regulator (NERSA) for an electricity trading license—marking its entry into the country’s fast-evolving private energy sector. 

If approved, the lender will purchase power from the Illikwa Solar PV Facility in the Free State and transmit it to its corporate headquarters in Sandton via Eskom’s infrastructure, under a wheeling agreement. “Investec Bank hereby notifies that a licence application has been lodged with NERSA to trade electricity,” the company said. The move positions Investec among the first major South African banks to tap into renewable energy trading amid national grid constraints.

Corporate push into clean power

The Johannesburg-based firm plans to secure solar-generated electricity through a Generation Purchase Power Agreement (GPPA) with the 2022-registered Illikwa PV Facility near Parys. The energy will be wheeled through Eskom’s grid to Investec’s Grayston Drive offices.

Wheeling arrangements allow companies to access clean power without direct infrastructure ownership, enabling large corporates to lower carbon emissions while stabilizing power supply. “This model enables the financial flow of electricity without requiring ownership of the transmission network,” Investec noted in its application, showcasing a broader shift towards distributed energy models.

Expanding footprint in South Africa’s energy market

Beyond powering its own operations, Investec’s application outlines ambitions to act as an intermediary between independent power producers and corporate buyers through Corporate Power Purchase Agreements (CPPAs). The strategy aligns with South Africa’s efforts to deregulate its energy market and improve energy security. 

The group also affirmed its commitment to Broad-Based Black Economic Empowerment (B-BBEE) compliance as part of the venture.

Titi’s growth strategy expands corporate banking operations

Under CEO Fani Titi, Investec has reported a 7.6 percent rise in first-half 2025 profits to £475 million ($594.5 million), alongside revenue of £1.1 billion ($1.4 billion). The firm also recently closed a $175 million syndicated term loan for its Mauritius unit.

Investec is also expanding its South African corporate banking operations with a $1.7 billion market expansion initiative. Titi, whose 0.04 percent stake in the company is valued at $1.94 million, expressed confidence in the group’s long-term trajectory. As South Africa opens its electricity market to private players, Investec’s early positioning could set the tone for other financial institutions exploring clean energy investments.