South African billionaire’s stepchild shooting the lights out
PSG Financial Services, whose history is tied to the Jannie Mouton-founded PSG Group, is expecting a large rise in earnings for the 2026 financial year.
Willem Theron and Wallie Krumm founded PSG Financial Services, formerly PSG Konsult, in 1998, which has roots in the PSG Group founded by Mouton three years prior.
Mouton is one of South Africa’s richest people, with a net worth of around $2.2 billion, according to Forbes.
The PSG Group has backed several major businesses in South Africa, including JSE-listed Capitec, Curro and KAP.
In 2022, the PSG Group restructured its holdings in several companies, which include unbundling its shares in PSG Financial Services, Curro, KAL Group and Stadio.
While PSG Financial Services was unbundled, the Mouton family still held a 13% stake in the company via their trust by the end of the 2025 financial year.
This stake was reduced over the last couple of months as the family decided to acquire and delist Curro in a deal worth around R7.2 billion, with PSG Financial Services shares included.
The family remains shareholders in the group, with Jannie’s son, Piet, serving on its board as an independent non-executive director.
Although PSG Financial Services has a market cap of around R32 billion, Mouton’s interest in Capitec, given its size, and Curro, given the recent deal, means that PSG Financial Services often escapes the limelight.
This comes despite the JSE-listed financial services company often seeing strong growth across its businesses, which is the case for the 2026 financial year.
In a trading statement for the year ended 28 February 2026, the group said it expects its attributable earnings per share to increase by between 36% and 39%, to a range of 137.8 to 140.9 cents.
The group’s headline earnings per share are also expected to increase by between 32% to 35% to a range of 133.5 to 136.5 cents per share.
The group will release its financial results for the 2026 financial year on 16 April 2026.
| Earnings Metric (cents) | Base: Reported 28 Feb 2025 | Expected Range: 28 Feb 2026 | Expected Growth % |
| Headline & Recurring Headline | 101.1 | 133.5 to 136.5 | 32% to 35% |
| Recurring Headline (Excl. Amortisation) | 107.1 | 139.7 to 142.9 | 30% to 33% |
| Recurring Headline (Excl. Perf. Fees) | 97.3 | 121.0 to 124.0 | 24% to 27% |
| Attributable Earnings | 101.2 | 137.8 to 140.9 | 36% to 39% |
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