Billionaire-backed South African wealth manager is booming

PSG Financial Services expects to report a strong financial performance for the 2026 financial year, with earnings growth of up to 39%.

On Monday, 23 March, PSG Financial Services released a trading statement outlining its expected earnings for the year ended 28 February 2026.

The statement revealed that PSG Financial Services expects its headline and recurring headline earnings to increase by between 32% and 35%.

Excluding amortisation, these earnings are expected to increase by 30% to 33%, and excluding performance fees, the increase will be between 24% and 27%.

Its attributable earnings are projected to increase by between 36% and 39%.

PSG Financial Services’ results for the year ended 28 February 2026 are expected to be published on or about Thursday, 16 April 2026.

Formerly known as PSG Konsult, PSG Financial Services was established in 1996 as a South African financial services provider within the PSG Group.

PSG Group, in turn, was founded by Chris Otto and billionaire businessman Jannie Mouton, who has also been credited with backing some of South Africa’s most well-known companies, like Capitec, Curro, and PSG Financial Services.

After being fired from his stockbroking firm, Senekal, Mouton & Kitshoff, in 1995, Mouton joined forces with Otto to start PSG Group.

This proved to be a massive success, with PSG Group going on to contribute to highly successful businesses like Capitec.

In the late 1990s, Mouton and Otto saw the potential in microlending, held a banking license, and had cash. 

Therefore, they decided to invest heavily in Capitec, with founder Michiel le Roux having said that PSG and Mouton’s active involvement in the beginning years of Capitec was crucial to the bank’s success.

PSG held a large stake in Capitec, which became one of its biggest successes. 

Capitec was listed for less than R1 per share. Today, it is worth over R4,000 per share and competes with FirstRand for the title of the most valuable bank in South Africa.

At the start of 2026, the Jannie Mouton Familie Trust and its subsidiaries still held nearly 6 million shares in the bank, worth around R18.5 billion.