South Africa’s reform momentum is becoming more visible, but so are the constraints that could stall it. From energy gains to persistent bottlenecks in logistics and municipalities, the discussion examines whether progress is enough to sustain investor confidence and what still needs to shift for capital to follow.

In this episode of No Ordinary Wednesday, Investec’s Chief Economists Annabel Bishop and Phil Shaw examine how the energy shock is forcing central banks to reconsider their path. From London to Pretoria, policymakers face a familiar dilemma: tighten into slowing growth, or risk letting inflation take hold. Guest host Neo Ralefeta explores the implications for global growth and what it means for South Africa, from currency volatility to fuel supply risks and consumer costs.

Accelerate Property Fund is making a lot of progress with Fourways Mall, but there are other headaches. Reinet is receiving a massive war chest from the Pension Insurance Corp disposal. MTN has beefed up the board.

Weekly summary of corporate finance activity by South African exchange listed companies.

Aspen has released the APAC deal circular. Exxaro's dividend is much higher. Investec's UK business is lagging. Momentum is largely positive. Schroder European Real Estate remains unappealing to me.

Markets are sending a surprisingly calm signal in the face of escalating conflict with Iran. 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 happens if the conflict drags on for longer, what key indicators markets are watching and what risks to the global economy are already emerging.

Weekly summary of corporate finance activity by South African exchange listed companies

Private equity is shifting gears. As rates turn and investor confidence improves, funds are deploying again, and South Africa is firmly back on the radar. But this isn’t a return to excess, it’s a shift toward smarter leverage, disciplined execution and sharper capital structuring. In the latest episode of No Ordinary Wednesday, Jeremy Maggs speaks to Rishanth Pillay, Head of Sponsor Leveraged Finance at Investec Corporate & Investment Banking, about what’s driving the renewed momentum – and what could derail it.