20 April 2026
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Welcome to Maz’enethole Quarterly - Quarter 1, 2026, and thank you for your continued trust and partnership. In a world shaped by shifting headlines and deeper structural change, this edition brings together perspectives that move beyond the noise to focus on what truly matters.

In the CEO’s note to investors, Malungelo Zilimbola reflects on the role of discipline in times of heightened geopolitical uncertainty, and why long-term investing is not about reacting, but about staying the course. From our CIO perspective, Asanda Notshe examines South Africa’s growing economic pressures, unpacking the risk of a financial cliff as structural constraints continue to build beneath the surface.

Zintle Twala explores one of the most significant shifts in global healthcare, the rise of GLP-1 drugs, and what it means for the future of the pharmaceutical industry, as well as access across emerging markets. Finally, Keonethebe Bosigo shares insights from Egypt, where improving macro fundamentals and renewed investor interest are unfolding alongside regional tensions, offering a real-time view of both opportunity and risk.

We invite you to explore and read the full newsletter.

CEO’s Note to Investors

When Markets Turn Noisy, Discipline Wins

Malungelo Zilimbola

Markets are being driven by conflict, volatility, and relentless headlines. But the real risk isn’t the noise, it’s stepping out. Malungelo unpacks why staying invested remains the most powerful strategy for building long-term wealth.

CIO's Perspective

Is South Africa Heading for a Financial Cliff?

Asanda Notshe

South Africa is approaching a financial cliff. Jobs have stagnated, savings are being depleted, and consumer resilience is fading. The data is clear, and the risks are building. We unpack what this means for the economy and investors.

Mazi Research

The GLP-1 Boom That’s Reshaping Pharma

Zintle Twala

GLP-1 drugs have evolved from diabetes treatment into one of pharma’s fastest-growing markets. As prices come under pressure, generics enter, and competition intensifies, who stands to win? We unpack the forces reshaping a market still in its early stages.

Africa

Why Egypt Is Drawing Serious Investor Interest Again

Keonethebe Bosigo

Egypt is back on investors’ radar, with stronger fundamentals, rising confidence, and a credible recovery story. But the current regional conflict is testing that momentum. We break down what’s changed, what still works, and where the real opportunity lies.

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