Why South Africa Might OUTPERFORM the World — Corion’s Outlook

South Africa’s markets are showing signs of a major turnaround — and in this episode of State of the Nation Business, we sit down with Corion Capital CEO Gareth Montana to unpack what’s really driving the momentum.

From the strong resource rally to falling bond yields, improved fiscal signals from the Medium-Term Budget Policy Statement, stabilisation in energy and logistics, and renewed global demand for emerging markets — this episode breaks down why both local and global investors are starting to look at South Africa differently.

Gareth Montana covers:
• Why resources have carried the JSE to a 35% annual return
• The bond rally from 11.5% to 8.5% — and whether it continues
• How SA stacks up relative to global markets
• Whether South Africa is officially “oversold”
• Why confidence is contagious — and why it matters
• Transnet, Eskom & private-sector stabilisation tailwinds
• The role of the Rand in market sentiment
• Why SA banks and bonds are still attractively priced
• What the MTBPS signals about political and fiscal discipline
• Why savings culture must improve for South Africans to benefit
• When it makes sense to shift allocations in equities, bonds and gold
• Why emerging markets (and SA) may outperform in 2026

If you’re an investor, entrepreneur, or simply someone trying to understand SA’s economic future — this is essential viewing.

📌 Partner: Corion Capital
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Produced by Stream IN Studios — https://www.streamin.co.za

Chapters:
00:00 – Intro & Corion Capital partnership
00:24 – Welcome to State of the Nation Business
00:25 – Corion Capital sponsor message
00:29 – Why SA markets are performing so well
01:19 – What’s driving strong SA equity performance?
01:54 – Commodity boom: gold & platinum lead the rally
02:45 – Are we seeing the bottom of SA’s economy?
03:00 – Fiscal improvements & MTBPS signals
03:53 – Can SA finally get bullish again?
04:00 – Corion explains their bullish SA view
05:48 – SA vs the world: global market comparison
06:48 – Why SA was oversold — and why that matters
07:15 – Unemployment, growth gaps & SA’s upside potential
08:49 – Stabilisation in Eskom & Transnet
09:54 – Rand performance & pricing in “failed state” risk
10:42 – The laggards: industrials, Naspers & MTN
12:15 – Index dynamics: resources vs tech
13:09 – Valuations, China exposure & emerging market shifts
15:15 – Gold dominance and equity allocation challenges
16:57 – Bond yields collapse from 11.5% to 8.5%
17:30 – Is it time to take profit on bonds?
18:41 – Country risk vs inflation risk
19:52 – SA’s strong financial system & solid banking sector
20:40 – Savings culture: why SA must change
21:58 – The importance of consistent monthly investing
22:33 – Why debt kills long-term wealth
24:35 – What the MTBPS REALLY signaled about government
25:47 – SA’s path to 2% growth — and why it matters
26:14 – Personal responsibility: improving financial futures
26:33 – Why Corion still sees value in SA assets
26:46 – Closing remarks