16 October, 2025
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Welcome to the latest edition of our quarterly newsletter - Maz’enethole Quarterly, Quarter 3, 2025.
South African markets enjoyed a lift in the third quarter, buoyed by a commodity boom, though rising global trade tensions are beginning to weigh on growth prospects. In his quarterly note, our CEO unpacks how these dynamics are reshaping the outlook for 2026 and what investors should monitor as crosscurrents intensify. Our CIO reflects on a personal conversation about the “future of work,” considering how artificial intelligence may not only replace jobs but redefine how we think about work and opportunity itself—an evolution that could influence the next wave of investment themes. From our global team, Devon highlights ASML, the Dutch technology leader powering the world’s most advanced chips, and its pivotal role in driving AI innovation. Moses Njuguna turns the spotlight to Africa, where, despite global uncertainty, the continent is quietly powering ahead. He explores how Africa’s trillion-dollar potential is unfolding and why investors cannot afford to miss this moment. Together, these insights underscore our continued focus on disciplined analysis, innovation, and a forward-looking approach to uncovering opportunity in a rapidly changing world.
