Africa’s venture capital (VC) ecosystem faced significant challenges in 2023 due to political instability, slow economic growth, and reduced funding access. However, local VCs demonstrated resilience through collaboration, leading to successful exits.

Despite early concerns about the decline of traditional office work during the Covid-19 pandemic, Standard Bank reports resilience in Africa’s real estate sector. The office, retail, and industrial markets have seen strong recovery, supported by flexible hybrid work models and growing demand for industrial space.

Citadel’s Chief Economist predicts the medium-term budget speech on 30 October will bring some welcome good news about economic growth thanks to improved political and energy stability - but he warns that over-spending on the public sector wage bill remains the elephant in the room for the local economy.

Charl de Villiers, Head of Equities at Ashburton Investments, reflects on the third anniversary of managing the Ashburton Equity Fund, highlighting the team's success in delivering positive alpha, strong peer performance, and their focus on South African listed equities.

Simon Webber, Head of Global Equities, Schroders, looks at the ways that increased market breadth and volatility against a resilient economic backdrop should create opportunities for active fund managers.

A noteworthy shift is occurring in South Africa's unit trust sector. While some larger managers are experiencing modest outflows, mid-sized managers are seeing substantial inflows on the back of strong performance.