Investec Focus Radio SA

The US economy continues to grow, thanks to ongoing investment into AI, and despite federal government indebtedness and higher inflation because of rising fuel prices. One area where the strain is showing though, says Global Chief Investment Officer Chris Holdsworth, is in the housing market, where mortgage rates are climbing and applications are falling. Should weaker house prices follow, this will be a headwind for consumer spending.

AI investment is supporting growth, but its wider benefits remain uneven. Where will global capital go next, and what will businesses pay to access it? In this special edition of No Ordinary Wednesday, Cumesh Moodliar, CEO of Investec South Africa, and Andrew Lillywhite, head of bank funding group at Investec UK, share first-hand insights from their time at the 2026 IMF and World Bank meetings in Bangkok. Drawing on conversations at the meetings, they examine the forces shaping global investment. They also identify signals that could support investment, from more stable long-term interest rates to the potential impact of a stronger South African credit rating.

The war in the Middle East continues to weigh on markets and the economy, with second round effects showing up in US inflation numbers, notes Investment Strategist at Investec Investment Management Osagyefo Mazwai. The tech sector was the biggest loser in the days following the US inflation print.

The global economy is proving resilient, and company earnings remain healthy. Even so, Investec’s Global Investment Strategy Group has maintained a risk score of zero, reflecting a measured approach to portfolio positioning. The findings are published in the quarterly Global Investment View. On No Ordinary Wednesday, Chris Holdsworth, Investec Investment Management’s Global Chief Investment Officer, joins Jeremy Maggs to explain the thinking behind the decision.

The AI story has been great for investors so far, but it may be making the Fed feel uncomfortable. AI investment is helping to fuel growth and inflation, potentially forcing the Fed to maintain a tighter policy stance – even though, says Global Chief Investment Officer Chris Holdsworth, the sectors most likely to bear the burden of higher rates are those contributing the least to inflationary pressures.

Stronger revenue offers an opportunity to reduce borrowing. Will spending pressures limit the gains? Ahead of the 2026 Medium-Term Budget Policy Statement (MTBPS), Investec’s Annabel Bishop and Tertia Jacobs to examine the choices facing National Treasury. Higher precious metals prices offer the prospect of better-than-budgeted tax revenue. But weaker growth, inflation pressure and higher borrowing costs complicate the outlook. How Treasury uses any additional revenue will matter for debt sustainability and investor confidence. In this episode of No Ordinary Wednesday, our economists discuss spending discipline, the proposed fiscal anchor and why rising bond yields do not necessarily signal weaker confidence in South Africa.

There’s been an almost universal rise in bond yields around the world over the past few months. According to Global Chief Investment Officer Chris Holdsworth, developed markets have seen the biggest rises, with France one of the hardest hit, as it grapples with a worsening fiscal situation.

The US economy is running hot, with the latest indicators pointing to 5% GDP growth, ahead of market forecasts for third-quarter growth of 2.8%. This comes despite high oil prices and rising inflation and has implications for the US dollar and the prospects of the US being able to grow out of its debt problem.

South Africa’s digital infrastructure is expanding rapidly, from data centres and fibre networks to satellites. But can the country provide the power, capital and regulatory certainty needed to turn digital investment into lasting growth? On No Ordinary Wednesday, Jeremy Maggs speaks to Investec CIB’s Louise Pillay, a telecoms and media analyst, and David Abbey, a leveraged finance specialist, about what is driving demand, where the risk of overbuilding lies and what it will take to connect more of the country. Chapters: 00:00 - Digital infrastructure as a growth engine 01:58 - How digital infrastructure has evolved 03:17 - Coverage versus digital inclusion 04:54 - What is driving demand for data centres and AI infrastructure? 06:08 - Is there a risk of overbuilding? 07:34 - Is grid access the bigger constraint for data centres? 08:45 - Power, water and social licence 10:53 - What makes a digital infrastructure project financeable? 12:04 - Can new rules speed up fibre rollout? 13:34 - Satellite versus fibre…

In conversation with Head of Investec Equity Research Nkateko Mathonsi, former Gold Fields CEO Chris Griffith reflects on the high-stakes decisions that shaped his mining career, from investing through downturns to balancing business survival with its human cost. In this episode: 00:00: Introduction 01:08: A $1bn ambition for Africa 02:28: From miner to CEO 05:31: Defending mining rights and the rule of law 13:43: The human cost of restructuring 20:48: Yamana: A question of timing 25:07: Balancing growth and shareholder returns 27:38: The people behind an illustrious career 29:42: Doing right when it matters 30:10: Quick-fire questions 30:33: Outro

The Fed hiked rates last week amid resilient economic growth and higher inflation, much of it due to higher fuel prices at the pump, while the Bank of Japan also increased borrowing costs, with more likely to come. South Africa’s Reserve Bank is likely to follow suit this week, as inflation expectations remain elevated.

Gains by Houthi rebels in recent days have placed further upward pressure on oil prices, with benchmark rates up about 3% on Monday morning, while bond yields have risen since the start of the war. Against this backdrop, the Fed meets this week to decide on interest rates, and, according to Chris Holdsworth, Global Chief Investment Officer, Investec Investment Management, many economists are expecting a hike.

Oil, bond yields and inflation are sending a more cautious signal on the global outlook. Growth has held up better than expected. But energy markets remain tight, long-term borrowing costs are rising, and central banks are weighing the risk of another inflation shock. In the latest No Ordinary Wednesday, Ellie Henderson and Callum Macpherson of Investec UK discuss what the oil market, sovereign bonds and economic data are telling us now. They also explore what this means for interest rates, corporate investment and the risks facing South Africa.

Crude oil prices have risen over 20% in the last month, and this problem seems unlikely to be resolved quickly: prediction markets put only a 30% likelihood of normal flows through the Strait of Hormuz by December. Chris Holdsworth, Global Chief Investment Officer, Investec Investment Management says with services inflation pressures also rising, and jobs numbers looking stronger, markets are pointing to rate hikes by the Fed.

New Fed chief Kevin Warsh delivered a hawkish speech at the Jackson Hole symposium of central bankers on Friday, leading to a stronger US dollar and increased expectations of rate hikes this year and next year. Investec Investment Management’s Investment Strategist Osagyefo Mazwai examines what this means for the US economy, as well as emerging market currencies like the rand.

South Africa’s growth challenge is shifting from reform to delivery. Tourism is part of that test. International arrivals rose 12.3% in the first half of 2026. And phase III of the government-business Partnership now puts the sector firmly on the growth agenda, with a focus on air access, visas, safety and infrastructure. On No Ordinary Wednesday, Jeremy Maggs and Investec economist Lara Hodes examine what it will take to turn that momentum into investment, jobs and sustained growth. Read more on www.investec.com/now

Property is often seen as one of the more reliable ways to build long-term wealth. It’s tangible, familiar and, for many South Africans, an important part of their financial plan. But investing in property comes with risks that can be easy to overlook, from hidden costs and changing rental yields to considerations around what happens if you’re no longer able to earn an income. In this episode of Everything Counts, we look beyond the property itself to explore what it really takes to build a resilient property investment strategy. Motheo Khoaripe is joined by Sinenhlanhla Sithomo, head of insurance business at Investec, and Elsie Rateiwa, head of financial services at Lightstone Property, to unpack the risks, potential returns and the importance of protecting the income behind your investment. 00:00 Introduction 01:05 Investment property as part of a broader wealth strategy 01:39 What are the risks of investing in property? 03:10 Is buying property in Cape Town a good investment? 04:52 The need for liquid…

Moves by the US Treasury to intervene in the bond market failed to bring down yields meaningfully, and the continuing worsening of the US’s fiscal position may explain why. According to Chris Holdsworth, Global Chief Investment Officer, Investec Investment Management, the US’s debt-to-GDP ratio is above 100% and seems set to remain above that level, with tax hikes politically unpalatable and little room to cut spending in areas such as defense, healthcare and social security.

The US Federal Reserve finds itself in a difficult position. The US economy has been shedding jobs, and wage growth is soft. At the same time, says Chris Holdsworth, Global Chief Investment Officer, Investec Investment Management, government debt continues to grind higher while inflation remains elevated, mainly the result of higher energy prices – meaning there’s a chance of rates being hiked in the coming months.

What does leadership look like after the CEO title falls away? In this episode of Investec Minds, former Telkom Group CEO Sipho Maseko joins Investec's Nkateko Mathonsi and Louise Pillay to reflect on leadership, business transformation and South Africa's future. Drawing on his experience at Telkom, Vodacom and BP Southern Africa, Maseko shares lessons from leading one of South Africa's most significant corporate turnarounds and the personal cost of making difficult decisions. The conversation explores Africa's infrastructure deficit, satellite broadband, regulation, AI investment, digital transformation, pay TV, sport and the economics of content. Maseko also discusses the opportunities he sees for South Africa and the continent over the coming decades. His most powerful leadership insight? “People should feel you.”

The easy gains may be over, but the case for bonds is not. Annelise Peers, Chief Investment Officer at Investec Bank Switzerland, and Awongiwe Booi, Fixed Income Analyst at Investec Investment Management in South Africa, unpack why attractive yields, easing inflation and South Africa’s underpriced reform story could make fixed income a source of return, not just protection, and what could still spoil the opportunity.

In this episode of Everything Counts, we unpack one of the most overlooked opportunities to improve your financial position: your tax return. Many people treat tax filing season as a simple compliance exercise and move on. But as our experts explain, your SARS tax return is actually a powerful financial health check that can help you avoid costly mistakes, stay compliant, and even unlock additional value. We dive into: ● Why you should rethink how you approach tax filing ● The risks of blindly accepting SARS auto assessments ● Common tax mistakes that could cost you money ● Medical aid deductions and what you might be missing ● Travel claims, cost-to-company structuring, and share incentives ● What happens during a SARS audit (and how to prepare) Whether you're a salaried employee, high-income earner, or managing multiple income streams, this episode gives practical, actionable insights to help you file with confidence and make sure you aren’t unknowingly leaving money on the table. 00:00 Introduction 01:15…

While global equities are up strongly over the last year, there’s been a clear slowing in momentum in the last six months. According to Chris Holdsworth, Global Chief Investment Officer, Investec Investment Management, this implies that much of the strong US earnings performance has been priced into the market.

Artificial intelligence is moving faster than almost anyone expected. After attending two of the world's biggest technology conferences in Boston and San Francisco, Investec global equity analysts David Smith and Zane Bezuidenhout unpack what they learned from the executives shaping AI's future. From surging demand and infrastructure bottlenecks to agentic AI and the companies best placed to benefit, they explore what investors should be watching next. 00:00: Intro 1:01: Demand for AI even stronger than expected 2:07: Scale of demand has outstripped supply 3:30: What is Agentic AI? 4:44: When will agentic AI be truly embedded in our lives? 5:27: The rise of “intelligence per dollar” and “token optimization” 7:07: Are companies starting to see returns on their AI investments? 8:26: For investors, what distinguishes the winners in the AI race? 10:00: Continuity announcement: Investec Global Leaders Portfolio 10:54: Is China closing in on the US when it comes to AI prowess? 11:36: The increase of regulation…

We've all heard the advice. Save more. Spend less. Start earlier. In this episode of Everything Counts, Motheo Khoaripe is joined by Investec's Nirvashni Rajkumar (KZN team leader for the Investec financial planning team) and Dorothy Asomaning (Investec Wealth & Investment Wealth Manager) to explore why saving is about much more than building a bigger bank balance. Together they unpack how lifestyle inflation quietly limits our choices, why earning more doesn't always lead to greater financial freedom, and how giving your money a clear purpose can change the way you think about your future. In this episode, we discuss: • Why traditional conversations about saving no longer resonate. • How lifestyle inflation quietly reduces financial freedom. • Why financial freedom is about choice, not income. • How to give your savings a meaningful purpose. • The realities of saving while supporting family. • Why behaviour shapes financial outcomes more than good intentions. • The simple question that can change the way…

Although US earnings for the second quarter have mostly beaten expectations, markets appear to have wanted more. Chris Holdsworth, Global Chief Investment Officer, Investec Investment Management, says even companies such as Alphabet that have beaten forecasts have seen declines in their prices after results.

Increased competition among LLMs and uncertainty about the return on investment on AI capex are all weighing on the market performance on momentum stocks, such as semiconductor firms. Chris Holdsworth, Global Chief Investment Officer, Investec Investment Management, looks at some of the dynamics in global stock markets.

Are South African consumers past the worst of the fuel shock? Household budgets have been hit by higher fuel prices, rising inflation and pressure on real wages. But fuel prices are starting to fall. The risk is timing. Will relief arrive before households are forced to cut back further? Host Jeremy Maggs unpacks the consumer outlook with Annabel Bishop, Investec chief economist, on No Ordinary Wednesday.

In this episode of Everything Counts, we unpack the real-world impact of geopolitical tension on global travel, from grounded flights and closed airspace to the human stories behind stranded passengers. What happens behind the scenes when airlines, advisors, and entire systems are forced to respond in real time? Host Motheo Khoaripe is joined by Paolo Giuricich, Head of Investec Travel, and Otto de Vries, CEO of ASATA, to explore how the travel industry navigates air travel disruptions, and what it means for you as a traveller. From operational chaos to extraordinary collaboration, and a powerful story of one family’s journey home, this conversation reveals a simple truth: travel works best when everything goes right, but its true value shows when everything goes wrong. Topics covered: ● How global conflict disrupts air travel systems ● What happens when major travel hubs shut down ● The role of travel advisors during crises ● Why travel insurance matters more than you think ● A real-life story of…

Global GDP growth looks set to be around 3% this year, as the global economy deals with headwinds from a supply shock because of the war with Iran and tailwinds from artificial intelligence spending, says Chris Holdsworth, Chief Investment Strategist, at Investec Wealth & Investment International. While US and Chinese growth is set to slow marginally over the coming year, offset by rising growth in Europe, Japan and emerging markets ex-China.

Despite the war in the Gulf, the last six months have been good for global equities. While the US market’s performance has been in line with the overall global performance, the standout has been South Korea, which, says Chris Holdsworth, Chief Investment Strategist, at Investec Wealth & Investment International, has helped emerging markets to outperform.

The global economy has held up but that does not mean risk has faded. At the halfway point of 2026, growth has been stronger than feared and inflation has cooled, but not enough. Central banks remain cautious while energy markets are still exposed to Middle East disruption. For South Africa, the global backdrop feeds directly into the rand, inflation, capital flows, commodity prices and the Reserve Bank’s room to move. In the latest episode of No Ordinary Wednesday, Jeremy Maggs speaks to Investec economists Ryan Djajasaputra and Annabel Bishop about what could shape the second half of the year. They discuss global growth, interest rates, fiscal credibility, South Africa’s investment case and the under appreciated risk of El Niño. Read more on www.investec.com/now Key highlights: 00:00 - Introduction 01:34 - Why inflation and interest rates surprised markets 04:26 - Global growth: Resilience amid uncertainty 06:13 - What global trends mean for South Africa 09:10 - South Africa's structural growth challenges…

Athletes often have a decade or two to earn what needs to last a lifetime. So how do they turn short careers into long-term financial security? In Part 2 of the Everything Counts: Sports Edition Wrapped episodes, host Motheo Khoaripe is joined by Springbok World Cup winner and Investec Sports head Schalk Brits, Investec financial adviser Vumi Dludlu, and wealth manager Moses Bokaba. Together, they unpack what athletes can do to move beyond simply earning money and start building lasting wealth. From investing and retirement planning to family responsibilities, financial structures and life after sport, this conversation explores the practical decisions that can help turn income into long-term security. In this episode: ✔ Why a first contract should trigger structure, not lifestyle inflation ✔ Why saving alone isn't enough to build wealth ✔ The importance of liquidity, investing and long-term planning ✔ How financial strategies differ across sports and career paths ✔ Why athletes need tailored financial…

It’s not just the oil price that’s fallen this month. Platinum, gold, iron ore and copper are also down. Chris Holdsworth, Chief Investment Strategist, at Investec Wealth & Investment International says it reflects a softer Chinese economy, US dollar strength and a new Fed chief who’s a hawk on inflation.

In this episode of Investec Minds, former Anglo American and AngloGold Ashanti CEO Mark Cutifani reflects on the leadership decisions that shaped his career and the mining industry. In conversation with Investec's Nkateko Mathonsi and Patrick Mann, he shares insights on navigating crises, transforming organisational culture, driving innovation, improving mine safety and why mining will play a pivotal role in the global energy transition and economic development. Chapters: 00:00 Intro 01:58 What Mark is up to today 03:28 Leadership lessons 04:49 Mark's corporate transformation playbook 06:35 Leading through crises 10:37 Improving mine safety 12:14 Changing the mining narrative 14:52 Mining's greatest opportunity and risk 17:52 Mining's shift back to growth 19:40 Why mining needs scale to attract capital and innovate 22:47 How Africa can unlock critical minerals investment 25:36 The challenges of building a downstream industry 27:41 Quick-fire questions 29:29 Conclusion

While peace talks between the US and Iran have helped bring down oil prices and, with them, inflation expectations, Chris Holdsworth, Chief Investment Strategist, at Investec Wealth & Investment International says markets are reading Fed chief Kevin Warsh's commitment to price stability as a sign that a US rate hike is on the way.

Is higher education keeping up with AI? For decades, the university degree has been treated as a reliable bridge between learning and work. AI is testing that bargain. As technology changes what employers need, higher education faces a sharper test - not whether it can produce graduates, but whether it can prepare people to think, adapt and contribute to an economy being reshaped in real time. In this episode of No Ordinary Wednesday, our host Jeremy Maggs, Jerome September, Dean of Student Affairs at Wits University and Lesley-Anne Gatter, Global Head of People & Organisation, examine what future readiness means for universities, employers and South Africa’s growth prospects. Listen to the full conversation to find out more. Read more on www.investec.com/now

Markets welcomed reports of a US-Iran peace deal, with equity markets up and oil prices down sharply from recent highs. This could be good news for the global inflation outlook, though risks remain.

Professional athletes can earn life-changing money before the age of 30. So why do so many still struggle financially after retirement? In this episode of Everything Counts: Sport's Edition, Motheo Khoaripe quizzes former Springbok and Investec head of Sports, Schalk Brits, financial adviser Vumi Dludlu, and Wealth Manager Moses Bokaba on the financial realities athletes face behind the scenes. From sudden wealth and career-ending injuries to family pressure, lifestyle inflation and planning for life after sport, the conversation explores the money challenges that don't make the headlines. Whether you're a professional athlete, entrepreneur or simply trying to make smarter financial decisions, the lessons in this discussion apply far beyond sport. In this episode: ✔ Why earning more doesn't automatically create wealth ✔ The biggest financial mistakes athletes make ✔ How to prepare for retirement while still competing ✔ Managing pressure from family, friends and lifestyle expectations ✔ Building a trusted…

Economic data in the US, such as jobs growth, have surprised to the upside of late, pointing to a resilient economy. Chris Holdsworth, Chief Investment Strategist, at Investec Wealth & Investment International says this strength has unsettled markets, on rising expectations of rate hikes by the Fed.

Marble's head sommelier, Wikus Human and Investec's Roy van Eck, discuss what to consider when graduating from casual wine purchaser to wine collector. Together with host Palesa Mapheelle, they explain how to identifying age-worthy vintages, and the risks and rewards of investing in wine to make a financial return. They also share their personal journeys into wine, what mistakes they they've made along the way, and why South African wines may still represent an undervalued opportunity. KEY MOMENTS: 00:00: Introduction to Wine in Focus 00:38 Recognising the storms in Western Cape Winelands 00:58: Introduction to guests 01:56: The start of the wine journey for Wikus and Roy 04:02: Collecting wine for investment or consumption 05:00: How do you know that a wine is worth aging? 06:08: How sommeliers keep personal tastes at bay 07:03: Never buy one bottle at a time: Lessons on purchasing 08:00: The risks associated with investing in wine 09:51: Liv-Ex Fine Wine 1000 Index: Wine returns on the sharp decline 11:11:…

China remains South Africa's largest trading partner, but the landscape of global trade is evolving. As compliance requirements tighten, supply chains face new pressures, and geopolitical tensions reshape trade flows, businesses must navigate an increasingly complex relationship with the world's second-largest economy. In this episode of No Ordinary Wednesday, Investec Treasury Economist Tertia Jacobs and Head of Supply Chain Dylan Govender look at the forces reshaping Sino-South Africa trade and explore what these changes mean for local businesses and the broader economy. Read more on www.investec.com/now Chapters: 00:00 – Introduction 01:21 – The evolution of SA-Sino trade relations 02:38 – Will the zero-tariff trade deal change this asymmetry? 05:13 – New China export rules could impact SA exporters 06:40 – How SA is walking the tightrope of politics and trade 09:08 – The added complexity of BRICS 10:36 – South Africa must diversify imports of finished goods 12:16 – Investec wants the deadline of…

“Respect money and it will respect you.” That is one of the earliest money lessons Investec ambassador SA soccer midfielder playing for Mamelodi Sundowns and Bafana Bafana Teboho Mokoena learned growing up in Bethlehem – and it has shaped the way he thinks about football, family and financial freedom. In this episode of Everything Counts: Sports Edition, Teboho shares how he went from earning his first salary of R3 500 a month to navigating bigger contracts, money mistakes, lifestyle pressure and the responsibility of building generational wealth. He opens up about: • The childhood lessons that shaped his money mindset • What changed when football became a career • The pressure that comes with earning more, quickly • Money mistakes, including chasing fast returns • Why financial literacy matters for footballers • His plans for life after football • Giving back to young players in Bethlehem This is more than a football story. It is a conversation about discipline, responsibility and learning how to make…

While the tech sector has been a well-known driver of earnings and performance on Wall Street, it’s also been the major contributor to emerging markets as well. Chris Holdsworth, Chief Investment Strategist, at Investec Wealth & Investment International says that’s largely to the contributions of TSMC in Taiwan and Samsung and SK Hynix in South Korea, emerging markets are up 26% year to date and 54% over 12 months.

US President Donald Trump announced over the weekend that the US and Iran were close to finalising a deal to end the war. However, notes Investment Strategist Osa Mazwai, even if the Strait of Hormuz were to be reopened completely, it will take some time for traffic to return to normal and for energy prices to fall significantly – which could be a problem for Republicans in the US midterm elections.

Ever wondered what actually happens behind closed doors at a wine competition? How do judges decide what makes a wine exceptional and what separates a gold medal from the rest? In this episode of Wine in Focus, Palesa Mapheelle is joined by local wine doyenne, Michael Fridjhon and Wine Master and international judge, Heidi Makinen. Together, they explain the rigorous judging process of the Investec Trophy Wine Show, what they look for in a winning wine, how to navigate judges’ disagreements and the importance of wine competitions to the local wine industry. KEY MOMENTS: 00:00: Intro 00:38: Recognising the devastating storms suffered by the Western Cape winelands 01:47: Why are competitions necessary? 03:23: Comparing Investec Trophy Wine Show to other international competitions 04:26: Shaping consumer perceptions 05:43: The mechanics of judging 09:09: Judge’s chemistry 10:07: Explaining a flight of wines 10:34: Finding consensus between judges 13:47: Ensuring judge neutrality 15:14: The importance of blind…

What began as a geopolitical conflict is rapidly becoming something much larger. Oil is only one part of the story. Natural gas, fertilisers, chemicals, shipping routes, aluminium, aviation fuel and global supply chains are all now being affected by the fallout from the Iran war. In the latest episode of No Ordinary Wednesday, Jeremy Maggs speaks to Investec’s Osa Mazwai and Campbell Parry about why this is increasingly being described as an “everything shock.” Could this crisis ultimately accelerate the global shift toward electrification, renewables and new energy systems? Listen to the full conversation to find out more. Read more on www.investec.com/now Chapters: 00:00 - Introduction 01:38 - What makes this crisis different from previous oil shocks? 03:38 - What are markets beginning to price in? 06:00 - Why the Strait of Hormuz matters to global supply chains 08:50 - Will this delay global interest rate cuts? 10:47 - Are geopolitical risk premiums returning to markets? 13:12 - How exposed is South…

When markets feel uncertain, the hardest part isn’t the volatility, it’s knowing how to respond. In this episode of Everything Counts, chief investment strategist of Investec Wealth & Investment International Chris Holdsworth breaks down how to think about investing during uncertain times, and why behaviour often matters more than market conditions. From geopolitics and inflation to shifting growth expectations, we separate market noise from the signals that actually matter – and explore how behaviour shapes long-term outcomes. In this episode, we cover: • What’s really driving economic uncertainty • The difference between market noise and meaningful signals • Why investors make mistakes during volatility • Whether to stay invested or move to cash • What “staying the course” looks like • How to build a disciplined long-term investment strategy • The role of diversification and offshore investing Whether you’re new to investing or more experienced, this conversation focuses on what matters when markets feel…

While inflation is rising around the world – largely as expected – there are few signs of ‘stagflation’ (rising prices alongside slowing growth). However, notes Chris Holdsworth, Chief Investment Strategist, at Investec Wealth & Investment International, GDP growth in the US and across Europe have been robust.

Introducing Investec Minds, a new video podcast series from Investec Focus Radio SA. In each episode, Equity Research analysts from Investec Corporate and Investment Banking sit down with former CEOs to unpack the decisions that shaped their industries, the lessons they’ve learned, and how they see the future unfolding. In episode one, Stephen Koseff, former Group CEO of Investec, joins Nkateko Mathonsi and Ross Krige to reflect on leadership, the opportunities for the banking industry, and the role business has to play in strengthening South Africa’s economic trajectory. Chapters: 00:00 Intro 02:15 Life after Investec 04:57 Convincing Trevor Manuel about Investec's London listing 06:55 Culture at Investec: Why there aren't any job titles 08:24 Lessons on expanding abroad 12:10 Investec's UK and Australian expansion 14:12 Continuity announcement 15:03 The one year Stephen would revisit 15:45 A 10-year view on the SA banking sector 19:12 Have South African banks got their heads around the Africa opportunity?…