With little sign of an early resolution to the war in the Middle East, supply constraints on commodities such as oil, gas, and helium may well endure. Chris Holdsworth Chief Investment Strategist, at Investec Wealth & Investment International notes that fuel prices likely to feed through quickly into consumer inflation, central banks like the SA Reserve Bank are likely to face rate hikes this year. Investec Focus Radio SA

Clean and green growth has moved from ambition to execution, but the challenge is one of pace. Investment conditions are key: predictable rules, credible pathways, and coordination across value chains, finance and government. This episode of What Next? Leadership Conversations for a Better Future, Helena Norrman, Marina Grossi, and Sang-Hyup Kim explains why transition policy now sits at the centre of industrial strategy, competitiveness and geopolitics.

00:00 Predictability is the first enabler

07:30 Transition policy is industrial strategy

15:30 The foundations for future competitiveness is shaped by coordination today

26:30 Examples of effective coalitions What Next? An Investec-Cambridge podcast series · Investec Focus Radio SA

The new tax year is here, and the 2026 Budget Speech introduced important changes that could reshape how South Africans save, invest, and plan for retirement. In this episode of Everything Counts, host Motheo Khoaripe sits down with Vumi Dludlu, Investec financial adviser, and Johan Loubser, head of adviser enablement at Investec, to unpack what the 2026 National Budget means for your money, and how you can make the most of the new tax year from day one. From higher tax-free savings limits to a bigger retirement contribution deduction cap, the rules have shifted. But what do these changes actually mean for savers and investors in practice?

In this conversation, we break down:

● The increase in the tax-free savings annual limit to R46,000

● The higher retirement fund deduction cap and what it means for retirement planning

● How the new tax year creates an opportunity to reset your financial strategy

● Why starting contributions early can significantly boost compounding

● Other budget updates affecting portfolios, including capital gains tax exclusions and offshore investing allowances

Whether you're investing monthly, planning a lump sum contribution, or reviewing your long-term financial strategy, this episode explores practical steps you can take now to stay on track and maximise the new allowances.

00:00 Introduction

01:30 Why does the new tax year matter for investors?

02:45 Big changes from the 2026 Budget Speech

04:00 The new tax-free savings annual limit

06:55 The new retirement fund deduction cap

10:50 2026 tax updates that could affect how portfolios are structured

11:30 How does the 2026 Budget affect offshore investing?

12:40 Tax optimisation tips for the 2026 Budget

14:00 Practical tips for dealing with the 2026 Budget

16:00 Monthly vs lump sum contributions to your tax-free savings account

18:00 Conclusion Investec Focus Radio SA

Central banks in the US, Eurozone and Japan all kept rates unchanged last week. But behind these decisions lie rising concerns about the impact of the Iranian War on a range of prices that have a major impact on inflation. The duration and intensity of the conflict will be key determinants of the overall impact on the inflation and growth outlooks. Investec Focus Radio SA

Artificial intelligence is rapidly reshaping economies, societies and power structures yet much of the conversation has swung between uncritical optimism and existential fear. In this episode of What Next? We explore how leaders can reclaim agency over the future of AI, ensuring it serves human progress rather than narrow commercial or political interests. Vilas Dhar, President, Patrick J. McGovern Foundation; philanthropist, technologist and advocate for human-centred AI, in conversation with hosts Lindsay Hooper and Marc Kahn, argues that the real challenge is not whether AI will become uncontrollable (this is the realm of Sci-Fi), but whether societies can adapt quickly enough to its social, economic and cultural impacts. He makes the case for shifting the focus away from hype and dominance towards participation, institutional imagination and moral courage and for designing AI systems that restore human agency and democratic participation, while supporting inclusion and long-term resilience. Investec Focus Radio SA

Markets are sending a surprisingly calm signal in the face of escalating conflict in the Middle East. Oil prices are rising, supply chains are under pressure, and recession risks are quietly ticking higher, yet equities remain relatively steady.

In the latest episode of No Ordinary Wednesday, Jeremy Maggs is joined by Investec experts in SA and the UK - Callum Macpherson, Phil Shaw and Chris Holdsworth - to unpack what’s really at play.

The conversation explores what could happen if the conflict continues, what key indicators markets are watching and what risks to the global economy are already emerging.

Read more on www.investec.com/now Investec Focus Radio SA

With uncertainty over how long, the Iranian conflict will last, it’s not just the oil market that’s been affected. Natural gas prices have risen, but so too have grain and aluminium prices, pointing to inflation pressures in the coming months. However, as Chris Holdsworth, Chief Investment Strategist, at Investec Wealth & Investment International, highlights, global equities are only 2% down, implying that equity investors expect a quick reopening of the Strait of Hormuz. Investec Focus Radio SA

In this episode, of the What Next series, we discuss the power of philanthropy in transforming markets, through investing in high risk innovation and early stage ideas that often require new economic thinking. Podcast hosts Investec's Marc Kahn and Cambridge's Lindsay Hooper invite Peter Bennett, founder of the Bennett Foundation and Leslie Johnston, founding CEO of the Laudes Foundation to explore how the power of philanthropy can be applied to large scale projects.

CHAPTERS:

00:00 Why Philanthropy Matters in a World of Systemic Challenges

11:49 Catalysing Markets, Changing Systems

19:55 Trends, Risks and the Future of Philanthropic Capital

29:18 Leadership for the Long Term: What Works, What’s Next What Next? An Investec-Cambridge podcast series · Investec Focus Radio SA

Most athletes train for medals. Few train for financial longevity. In this episode of Everything Counts: Sports Edition, Paralympic record holder Mpumelelo Mhlongo shares how he approached money with the same discipline he applies to sport − investing his first serious paycheque, supporting his family and building generational wealth that will outlast his career.

From scholarships and setbacks to smart contracts and long-term investing, this is a conversation about resilience, financial literacy and legacy.

If you care about:

• Generational wealth

• Financial discipline

• Building long-term financial security

• Smart money decisions under pressure

This episode is for you.

Watch now and subscribe to Investec Focus Radio for more conversations that prove: when it comes to money, everything counts.

00:00 Introduction

01:20 Mpumelelo Mhlongo‘s home life and starting to learn about money

04:15 The financial sacrifices that Mpumelelo Mhlongo’s family had to make

06:00 Mpumelelo Mhlongo’s academic journey and the financial implications

08:10 Mpumelelo Mhlongo’s early money management lessons

11:30 Athlete money management: Questions young people should ask themselves

13:00 What did Mpumelelo Mhlongo do with his first big paycheque?

14:10 The pressure to build a financially secure future for your family

15:30 Mpumelelo Mhlongo on financial discipline and money weak spots

16:30 Mpumelelo Mhlongo on his wife and early financial planning moments

17:50 Mpumelelo Mhlongo and his career in finance

19:30 Key lessons Mpumelelo Mhlongo has learned in his time at Investec

20:30 How important is money management as an athlete?

22:00 Athletes and money: What conversations are happening?

24:00 Key money management lessons from Mpumelelo Mhlongo

26:00 Mpumelelo Mhlongo on money mistakes

27:00 Charitable organisations that Mpumelelo Mhlongo works with

29:30 Mpumelelo Mhlongo on how grateful he is to his coach

31:00 Conclusion Investec Focus Radio SA

As the conflict in the Gulf continues, energy prices have risen sharply. Chris Holdsworth Chief Investment Strategist, at Investec Wealth & Investment International, examines the impact on global inflation and growth, as well as on President Donald Trump’s popularity ahead of the US midterm elections later this year. Investec Focus Radio SA