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- South Africas 2025 bond rally may be masking deeper growth risks in 2026
South Africas 2025 bond rally may be masking deeper growth risks in 2026
13 February 2026
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South African bonds have had an exceptional year, but investors should not conflate the supportive impact of favourable commodity and global tailwinds with local fundamentals in assuming that the rally will be sustained in 2026.
Speaking on AssetTV’s recent Outlook 2026 Fixed Income Panel, Albert Botha said 2026 risk assessments should keep in mind South Africa’s failure to translate a historically supportive global backdrop into materially stronger domestic growth – alluding to the fact that despite favourable global conditions for local growth, South Africa’s real growth rate was struggling to stay in positive territory.
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