Big tech stocks have stabilised after the DeepSeek shock in January, but will they continue to dominate the market this year, or is the next disruption around the corner? Tinus Rautenbach, head of Investec’s new trading and investing platform, Clarity, shares his views on the latest episode of the No Ordinary Wednesday podcast. Investec Focus Radio SA

Tristanne Farrell chats to Virginia MacKenny- artist, writer, and Emeritus Associate Professor of Painting at Michaelis School of Fine Art, and Vanessa Cowling, artist and part-time lecturer in photography at UCT. They discuss everything you need to consider when buying photography as part of your art collection. The conversation covers edition sizes, paper quality, provenance and the emerging trends in taking and printing photos- including the influence of AI.

00:00: Intro

01:09: Introduction of guests

01:42: Berni Searle and her significance

03:21: Prof Muholi's work powerfully archives black LGBTQIA stories

05:32: Muholi's mentorship programme empowers aspiring photographers

06:53: Photography collecting requires understanding edition sizes and quality

09:35: How artists sign and authenticate their photographs

13:29: Which up-and-coming photographers should we watch?

17:01: How do international photographers influence African markets?

18:19: The evolution of photography and the use of AI

21:42: Significance of Paris Photo Fair

23:12: Themes that are emerging in contemporary photographic art

25:43: Mixed media - painting on photos

27:42: Closing and where to subscribe to listen to the series Artist, Vanessa Cowling's website · Investec Focus Radio SA

While there are signs that inflation is reaccelerating in the US, data such as retail sales, and credit card and auto loan delinquencies, point to softer economic growth, posing challenges for the Fed. Listen to Chief Investment Strategist at Investec Wealth & Investment International Chris Holdsworth's analysis. Investec Focus Radio SA

Tariff wars are escalating, with President Trump announcing new tariffs on steel and aluminium imports, and China retaliating with tariffs on a wide range of US goods. Chris Holdsworth, Chief Investment Strategist at Investec Wealth & Investment International, looks at this in the context of strong labour growth in the US, and diverging trends in other major economies. Investec Focus Radio SA

With a challenging economic landscape, fluctuating currency, global trade tensions, and ongoing energy struggles what can South Africans, businesses and investors expect from Finance Minister Enoch Godongwana’s 2025 Budget Speech? Investec experts Chief Economist Annabel Bishop, Treasury Economist Tertia Jacobs and Chief Investment Strategist Chris Holdsworth share their predictions for Budget 2025.

Podcast key moments:

00:00 – Introduction

01:16 - Overview of the current macroeconomic landscape

03:08 - What has changed since the Minister of Finance tabled the Medium-Term Budget Policy Statement (MTBPS) in October 2024?

04:10 – What will investors be watching in Budget 2025

04:45 - How do you expect the minister to navigate fiscal deficit?

06:35 - Can government lower its debt trajectory?

07:43 – How do we drive growth in South Africa?

08:52 - Expectations for revenue in the upcoming budget? any tax increases?

13:11 - From an investment perspective, what are the implications for various key sectors and the equity market?

14:18 - Outlook for government bond yields?

15:47 - When will South Africa get to investment grade?

16:44 - How can the budget address issues related to retrenchment and unemployment?

18:12 - Are there strategies to ensure the development of a sustainable infrastructure in South Africa?

19:55 - What's the one big thing that you're looking out for in budget 2025?

Read more on www.investec.com/now

Hosted by seasoned broadcaster, Jeremy Maggs, the No Ordinary Wednesday podcast unpacks the latest economic, business and political news in South Africa, with an all-star cast of investment and wealth managers, economists and financial planners from Investec. Listen in every second Wednesday for an in-depth look at what's moving markets, shaping the economy, and changing the game for your wallet and your business. Investec Focus Radio SA

In this episode, we hear from young artist Boemo Diale and curator Sean O’Toole about the shifting art industry. They discuss Boemo's rise to fame, the role of art fairs in promoting underrepresented artists, and the importance of established artists supporting newcomers.

00:00: Intro

01:22: Introduction of guests

03:31: The evolution of art fairs

07:46: Boemo on what challenges she faced when starting out

08:36: Thoughts on artists giving back

13:20: Challenges commonly faced by young artists

18:14: The digital age offers both opportunities and challenges for artists

20:07: Galleries provide essential support and representation for artists

20:55: Advice for young collectors

22:59: Artists to keep an eye on

28:00: Closing and where to subscribe to listen to the series

Find out more about the Investec Cape Town Art Fair and buy tickets here:

https://link.investec.com/h8aczf Art in Focus series · Investec Focus Radio SA

President Trump came out guns blazing over the weekend slapping a 25% tariff on Mexican and Canadian imports (excluding energy) and 10% on Chinese imports. In this week’s Macro Monday, Chris Holdsworth, Chief Investment Strategist at Investec Wealth & Investment International, examines the wide-ranging implications of the announcement. Investec Focus Radio SA

Competition is heating up in the world of artificial intelligence. Chris Holdsworth, Chief Investment Strategist at Investec Wealth & Investment International, looks at the implications of the launch of China's DeepSeek. The new Large Language Model (LLM) promises to be better or as good as OpenAI and other Western options while costing significantly less to develop and run. Investec Focus Radio SA

In this episode, Tristanne Farrell, chats to Cumesh Moodliar, the CEO of Investec Bank SA, and Itumeleng Merafe, head of Investec Private Bank on how to approach art as an investment. The conversation covers liquidity considerations, depressed market conditions, tax benefits and the role of primary and secondary markets. We also get a sense of what's behind their mutual love for art, and where it all started.

00:00: Intro

01:20: Introduction of guests

01:56 How did Cumesh and Itu's art journey begin?

03:56: Top 10 artist ‘wish list’ and how do you approach collecting?

06:41: Contributing factors to the art market's resilience amid economic challenges

09:07: Understanding the role of primary and secondary art markets

13:38: Exploring art purchases through social media

15:16: Gen-X leads in expenditure

17:58: Growing interest in textured works and sculpture

20:05: What might be causing the shift in luxury goods like watches?

24:41: Diversifying Portfolios: Balancing equities and alternatives

29:04: The significance of the Investec Cape Town Art Fair

31:01: Closing and where to subscribe to listen to the series

Find out more about the Investec Cape Town Art Fair and buy tickets here:

https://link.investec.com/h8aczf Investec Focus Radio SA

Will the world continue down the path of fragmentation, or will it unite to tackle the pressing challenges that threaten our collective future? In the last episode of our Davos special edition, CEOs of Investec SA and UK, Cumesh Moodliar and Ruth Leas, share with us their key learnings from the event and how these discussions are influencing the future of business and governance.

Podcast key moments:

00:00 - Introduction

01:12 – What is the one thing that stood out at Davos 2025?

03:12 – Thoughts on Donald Trump’s first week back?

04:28 – How was South Africa’s investment message at the World Economic Forum meetings received?

05:06 - How was UK Chancellor Rachel Reeves’ address received by the business community in Davos?

06:44 – What stood out for you in European Commission President Ursula von der Leyen speech?

09:13 - The theme WEF this year was "Collaboration for the Intelligent Age". From what you’re hearing in the Davos, are the robots coming for our jobs?

10:08 – Insights from the WEF panel “Energy Transition: Where Public Policy Meets Private Goals”

11:47 – Key takeaways from the 2025 Davos annual meeting

Read more on www.investec.com/now

Hosted by seasoned broadcaster, Jeremy Maggs, the No Ordinary Wednesday podcast unpacks the latest economic, business and political news in South Africa, with an all-star cast of investment and wealth managers, economists and financial planners from Investec. Listen in every second Wednesday for an in-depth look at what's moving markets, shaping the economy, and changing the game for your wallet and your business. Investec Focus Radio SA