🇿🇦 Mzansi Market Memo – Monday, 11 August 2025

Molweni,

Mzansi starts the week riding high - the JSE All Share closed above 100,000, gold and platinum are glittering, and the rand is flexing at R17.73/$ despite global uncertainty.

But don’t get too comfortable. Earnings season is in full swing, Stats SA is rolling out key data releases, and geopolitical undercurrents - from Moscow to Washington - are quietly shaping the next quarter.

As a reminder, on Mondays we take a look at what to expect in the week ahead and the past weekend’s key announcements. Tomorrow you’ll receive your daily dose as usual.

Let’s get to the money.

📈 YTD Performance Snapshot

📆 Week Ahead Brief

Stats SA Releases:

• Monday – 11 August 2025
  Manufacturing: Production and sales (June 2025)

• Tuesday – 12 August 2025
  Mining: Production and sales (June 2025); Quarterly Labour Force Survey (QLFS) (Q2 2025)

• Wednesday – 13 August 2025
  Retail trade sales (June 2025)

• Thursday – 14 August 2025
  Residential Property Price Index Report (March 2025); Wholesale trade sales (June 2025); Motor trade sales (June 2025)

Earnings: 

• Monday – 11 August 2025
  AGMs: South Ocean Holdings; Oando; Acsion

• Tuesday – 12 August 2025
  Results: WeaveR (Interim); Merafe (Interim)

• Wednesday – 13 August 2025
  AGMs: Trustco; Equites

• Thursday – 14 August 2025
  Results: Lighthouse Properties (Interim); DKR (Quarterly); Tongaat (Final)
  AGMs: Numeral; 4Sight; Accelerate Property Fund (AFINE); Huge Group

• Friday – 15 August 2025
  Results: Standard Bank (Interim); Exxaro (Interim); Resilient (Interim)

Global Watch:

• Federal Reserve (U.S.)

  • The U.S. Federal Reserve's benchmark rate remains steady at 4.25–4.50%, following its July 30 FOMC meeting. Officials are watching upcoming inflation and jobs data closely; recent weak labor numbers increase the odds for a possible rate cut at the September meeting. Policymakers remain focused on balancing persistent above-target inflation and signs of fragility in the labor market.

• Economic Data Releases Worldwide

  • United States:

    • Inflation figures: Markets await July Consumer Price Index (CPI) and Core CPI data on Tuesday, August 12. Producer Price Index (PPI) comes Thursday, August 14. July Retail Sales are due Friday, August 15. These are key for momentum on rate cuts and economic health.

  • Europe:

    • Germany CPI: Watch for Germany’s July Consumer Price Index, released Wednesday, August 13. ECB consumer inflation expectations continue to guide market expectations for euro area monetary policy.

  • Asia-Pacific:

    • Australia: The Reserve Bank of Australia (RBA) holds its policy meeting this week, with markets pricing in a rate cut. Australian employment data and China’s retail sales and industrial production for July will also set the regional tone.

    • Other Asia: Watch for manufacturing PMI updates and industrial production figures from Japan, India, Singapore, and South Korea.

• Global Sentiment

  • The IMF recently upgraded its global growth forecast to 3.0% for 2025. Growth is buoyed by fiscal expansion and early moves ahead of anticipated tariff changes, while risks persist from trade tensions and persistent inflation, especially in the U.S.

📣 SENS Roundup – Friday, 8 August 2025

• Hammerson (HMN)
  Hammerson has completed the acquisition of the remaining 50% stake in the Bullring and Grand Central shopping centres from its JV partner, taking full ownership.

• Hulamin (HLM)
  Hulamin has completed the final phase of its R500m canbody stream investment, widening the cold rolling mill to produce wide-width canbody coils locally. Product qualification with key customers is underway, targeting commercial readiness by Q1 2026.

• Transnet (BITRA)
  Moody’s affirmed most of Transnet’s ratings, upgraded certain national scale ratings, but downgraded its baseline credit assessment to ‘caa1’ from ‘b3’. The outlook remains stable.

• B2Gold (B2G)
  Reported Q2 2025 gold production of 229,454 ounces, ahead of expectations, with cash operating costs of $745/oz. The company remains on track to meet its annual guidance.

🧠 Exec Picks

🤝 Ramaphosa & Putin: Diplomacy in Action
President Cyril Ramaphosa and Russian President Vladimir Putin held a direct phone call discussing global security, trade relations, and peace initiatives — particularly in conflict zones. Both leaders emphasised strengthening SA–Russia ties, with potential follow-ups on investment and resource cooperation.
TLDR: Warmer ties with Russia could boost trade, but may raise Western diplomatic eyebrows.
Read more: IOL

📦 Shein & Temu Linked to SA Job Losses
A new report links Chinese e-commerce giants Shein and Temu to the loss of over 8,000 jobs in South Africa’s clothing and textile sector. The influx of ultra-cheap imports is squeezing local manufacturers, accelerating factory closures, and threatening the livelihoods of thousands of workers.
TLDR: Fast fashion’s low prices come at a high cost for SA’s textile industry.
Read more: IOL

🏠 Cape Town’s Atlantic Seaboard Smashes Sales Records
Cape Town’s Atlantic Seaboard saw record-breaking residential property sales in June 2025, with turnover hitting R240 million — more than double the previous June high. High demand, limited supply, and strong local and international interest are driving prices up, even during the cold winter months. Properties are often selling at or near asking price, with notable sales including a R32 million Camps Bay home and a R30.8 million City Bowl penthouse.
TLDR: Cape Town’s luxury property market is red-hot, defying seasonal slowdowns.
Read more: Daily Investor

😂 Monday Meme of the Day

🧠 Final Word

Cape Town property is breaking records, Russian relations are warming, and the textile sector is under siege from cheap imports - a reminder that South Africa’s economy is a story of contrasts.

While the market’s current momentum is encouraging, the global backdrop is far from stable. Keep an eye on China’s data and the Fed’s inflation prints - they’ll steer sentiment just as much as our own earnings season.

Mzansi Market Memo is compiled daily by Rayhaan @ the Memo for investors and operators who trade before the sun rises.

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This memo is for informational purposes only. Not financial advice. Still, we’d buy low and read high.