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Investec Focus Radio SA
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Investec Focus Radio SA

NeuInvestec Minds Ep 5 | Nick Holland on decisions that reshaped Gold Fields10.11.2026 · 44 Min.
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10. Nov. 2026

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Investec Focus Radio South Africa features conversations between leading minds from within Investec and other experts on economic, investment and business topics in addition to issues that go beyond wealth.

Folgen 150

  1. Investec Minds Ep 5 | Nick Holland on decisions that reshaped Gold Fields

    44 Min.

    Some of Nick Holland’s biggest decisions took years to prove their worth. The former Gold Fields CEO joins Investec’s Nkateko Mathonsi to discuss the unbundling that created Sibanye Gold, and his backing of the …

  2. Macro Monday Ep139: The three major effects of the US midterms

    7 Min.

    Democratic Party control of the US House of Representatives and Senate has had three broad market implications: data centre buildouts are unpopular with voters; Congress will likely limit military escalation in …

    Shownotes
    Democratic Party control of the US House of Representatives and Senate has had three broad market implications: data centre buildouts are unpopular with voters; Congress will likely limit military escalation in the Middle East (which could bring down energy prices); and slower artificial intelligence-linked investment could be good for US Treasuries. Investec Focus Radio SA
  3. No Ordinary Wednesday | Has the AI boom got ahead of itself?

    32 Min.

    AI agents have entered the workplace, robots are edging closer to our homes and billions continue to flow into the infrastructure powering artificial intelligence. But as technology advances, are the returns …

  4. Macro Monday Ep138: The beats go on for US equities

    9 Min.

    Global equities continue to advance, while US corporate earnings continue to beat expectations. Taking into account these ongoing beats, notes Global Chief Investment Officer Chris Holdsworth, the overall US …

    Shownotes
    Global equities continue to advance, while US corporate earnings continue to beat expectations. Taking into account these ongoing beats, notes Global Chief Investment Officer Chris Holdsworth, the overall US market now trades at just under 20 times earnings, which is not excessive by historical standards. Investec Focus Radio SA
  5. Macro Monday Ep137: Mortgage market an orange light for the US economy

    8 Min.

    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 …

    Shownotes
    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. Investec Focus Radio SA
  6. No Ordinary Wednesday: IMF 2026 | AI, debt and the global investment outlook

    27 Min.

    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 …

  7. Macro Monday Ep136: Tech sector weakens after US inflation report

    10 Min.

    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 …

    Shownotes
    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. Investec Focus Radio SA
  8. No Ordinary Wednesday: Inside Investec’s investment outlook

    18 Min.

    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 …

  9. Macro Monday Ep135: The two sides to the AI investment boom

    6 Min.

    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 …

    Shownotes
    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. Investec Focus Radio SA
  10. No Ordinary Wednesday | Mini-Budget 2026: More revenue, less borrowing?

    26 Min.

    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 …

  11. Macro Monday Ep134: Fixed income investors are having a tough time

    10 Min.

    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 …

    Shownotes
    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. Investec Focus Radio SA
  12. Macro Monday ep 133 | US growth is running hot

    8 Min.

    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 …

    Shownotes
    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. Investec Focus Radio SA
  13. No Ordinary Wednesday | South Africa’s race to get connected

    20 Min.

    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 …

  14. Investec Minds Ep 4: Chris Griffith on leading mining through crisis

    32 Min.

    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 …

  15. Macro Monday ep 132: Central banks on a hiking path

    6 Min.

    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 …

    Shownotes
    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. Investec Focus Radio SA
  16. Macro Monday Ep131: Fed meets as oil prices rise

    8 Min.

    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 …

    Shownotes
    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. Investec Focus Radio SA
  17. No Ordinary Wednesday | The signals from oil, bonds and inflation

    18 Min.

    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 …

  18. Macro Monday Ep130: Crude prices, US jobs place focus on interest rates

    8 Min.

    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 …

    Shownotes
    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. Investec Focus Radio SA
  19. Macro Monday Ep129: Warsh’s hawkish speech

    9 Min.

    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 …

    Shownotes
    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. Investec Focus Radio SA
  20. No Ordinary Wednesday | The economics of tourism in SA

    12 Min.

    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 …

  21. Everything Counts | Episode 54: Protecting property wealth

    29 Min.

    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 …

    Shownotes
    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 cash when you own an investment property
    05:48 Risk of buying multiple properties in a concentrated area
    06:25 What are the hidden costs of investing in property?
    07:30 How to financially prepare to buy a house
    08:28 How to calculate cash flow resistance
    09:51 How to calculate a realistic return on investment in property
    10:40 Protecting the income that maintains your property investment
    11:42 The benefits of having life insurance and mortgage protection insurance
    12:07 Does mortgage protection insurance cover you if you become disabled?
    13:34 Why people don’t see themselves as assets to insure
    14:25 What insurance do I need for investment property?
    16:40 Life cover vs mortgage protection cover for property investments
    18:25 What to consider if you have multiple investment properties
    21:50 How long to see return on investment in property?
    24:52 How to identify a good area to buy investment property in?
    25:36 Key takeaways for investing in property
    26:53 Conclusion Investec Focus Radio SA
  22. Macro Monday Ep128: US bond market intervention fails to bring down yields

    5 Min.

    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 …

    Shownotes
    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. Investec Focus Radio SA
  23. Macro Monday Ep127: The Fed’s difficult position

    8 Min.

    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 …

    Shownotes
    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. Investec Focus Radio SA
  24. Investec Minds Ep 3: Sipho Maseko on the hard decisions that define leaders

    34 Min.

    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 …

  25. No Ordinary Wednesday Ep 133 | Bond markets: A licence to yield.

    22 Min.

    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 …

  26. Everything Counts | Episode 53: Tips for tax filing season in South Africa

    29 Min.

    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 …

    Shownotes
    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 Tax filing beyond compliance
    01:48 What changes to report to SARS
    03:50 Tax returns as a financial health check
    04:43 The importance of keeping track of your own numbers
    05:27 Should I accept SARS auto assessment?
    06:45 Changes to tax auto assessments for 2026
    07:37 How to submit medical aid tax certificate to SARS
    09:30 Beyond medical certificates for tax
    10:30 Disability claim SARS
    12:06 Is travel allowance tax deductible?
    15:30 Structuring a tax efficient remuneration package
    17:13 Tax implications on shares
    18:36 What does it mean if SARS is auditing you?
    20:00 Tax verification vs audit
    21:15 The value of a tax practitioner if you are audited
    21:50 Audit mistakes to avoid
    23:00 Tax audit tips for high net worth individuals
    24:38 How to maximise your tax refund
    36:40 Conclusion Investec Focus Radio SA
  27. Macro Monday Ep126: Slowing momentum in global equities

    10 Min.

    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 …

    Shownotes
    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. Investec Focus Radio SA
  28. No Ordinary Wednesday Ep 132: Investing in AI's next chapter

    17 Min.

    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 …

    Shownotes
    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
    12:28: AI opportunities beyond the Mag 7
    13:49: What could derail the AI investment story
    15:16: One message for investors
    15:57: Outro Investec Focus Radio SA
  29. Everything Counts | Episode 52: Has saving lost its meaning?

    28 Min.

    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 …

    Shownotes
    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 you think about saving.
    If you've grown tired of traditional savings advice, this conversation offers a different perspective on what saving is really for.
    Watch now and subscribe for more conversations that prove when it comes to money, everything counts.

    00:00 Introduction
    01:20 Has saving lost its meaning?
    04:21 Why saving has become uninspiring
    07:10 Can you accidentally out-earn your freedom?
    08:23 The discipline of saving
    16:40 Lifestyle inflation and financial choice
    15:10 Saving while supporting family
    18:50 What future is your money building?
    20:35 Why behaviour matters more than willpower
    25:00 Giving your savings a purpose
    26:37 Closing thoughts Investec Focus Radio SA
  30. Macro Monday Ep125: Excellent earnings season so far

    8 Min.

    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 …

    Shownotes
    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. Investec Focus Radio SA

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