Global geopolitical tensions, shifting alliances and heightened economic uncertainty shaped markets this month, even as SA leveraged the G20 spotlight to advance its development agenda and secure stronger investor confidence. South Africa saw meaningful domestic momentum through a sovereign credit rating upgrade, renewed fiscal discipline, and progress on key reforms, all supported by a resource-driven market rally. The medium-term outlook remains constructive despite struct

October 2025 saw mixed global and domestic developments, with the US facing a government shutdown and Inflation pressures, while China and the EU maintained cautious growth. A US-China trade breakthrough and easing Oil market tensions brought slight optimism. Domestically, South Africa celebrated its removal from the FATF grey list, steady inflation at 3.4% and renewed investor confidence supported by a stronger Rand and business sentiment.