Focus Insights | June 2025

Some months call for calm reflection, others for a reality check and perhaps a large Merlot. June 2025 is squarely the latter. From geopolitical flashpoints to South Africa’s GDP gap, our economists and experts unpick the trends that matter.

Read the full June edition below.

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International Focus

Halftime check-in: Investec chief economists decode global shifts

At the midpoint of 2025, the global economy is a mixed bag: inflation cools, tensions heat up, and everyone's watching Washington as the 90-day tariff ceasefire ticks down. Investec’s chief economists, Annabel Bishop (SA) and Philip Shaw (UK), offer a lucid analysis of the forces shaping markets, from greylisting jitters to Strait of Hormuz standoffs.

Net zero retreat – a dark hour before the dawn?

Environmental pledges are taking a back seat as governments redirect their focus, and their budgets, toward energy independence and national security. With carbon commitments stalling, climate policy finds itself in a holding pattern. Is this a brief detour, or has the green agenda truly lost its momentum? The implications for the planet are vast – and ambiguous.

UK Focus 

Private equity: Dry powder, cold feet

Market sentiment may have cooled, but deals are still getting done – slowly, and only by the strongest contenders. There’s no shortage of capital, only of conviction. In this market, substance now matters more than speed.

FX: Hedging or hoping?

In today’s twitchy markets, currency swings can undo months of careful planning for UK businesses with international exposure. Investec’s latest Currency Compass charts a course through the FX squalls, offering five smart steps to navigate the noise and protect your bottom line.

South Africa Focus

South Africa’s R5 trillion “what if”

Had South Africa managed a modest 4.5% growth since 2010, the fiscus would be R5 trillion healthier. Investec investment strategist Osagyefo Mazwai does the maths. And while it’s painful, there are ways to claw back growth.

Plugged-in prospects

Electric and hybrid vehicles are edging into South African driveways, nudged by volatile fuel prices and more forgiving price tags. Thinking of switching? Here’s what to weigh up before you plug in.

Lifestyle Focus

Wine in Focus

Set in the winelands, this five-part vodcast explores the intersection of wine, investment and innovation. Hosted by Investec’s own Lerato Motshologane, it offers an in-depth look at South Africa’s growing reputation in the global fine wine arena. 

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