UBS On-Air: Market Moves Viewpoints with Burkhard Varnholt - A global markets podcast (Ep. 50)
Nov 6, 2025
Burkhard Varnholt, an expert on global and emerging markets reporting from South Africa, shares fascinating insights from Cape Town. He discusses the city's vibrant tourism boom, bustling airports, and the economic recovery fueled by foreign investment and demand for minerals. Burkhard highlights parallels with other emerging markets, particularly in Asia, showcasing the impact of commodity demand. Plus, he indulges listeners with travel tips and his favorite cycling route around the stunning Chapman’s Peak!
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Vivid On-The-Ground View Of South Africa
- Burkhard describes South Africa as one of the most beautiful countries with great infrastructure and hospitality.
- He highlights busy airports, a 16% rise in international arrivals, and taxi drivers saying business is the best it's ever been.
Three Structural Drivers Behind The Upswing
- Three catalysts lift South Africa: FDI and tourism, demand for minerals from the energy transition, and a strong banking sector.
- These factors together support sustainable growth, currency appreciation, and strong equity performance.
Mining Dominates Market Performance
- South Africa's mining sector represents about a third of its stock market and benefits from higher global demand for minerals.
- Commodities like gold and diamonds are also well-bid, explaining strong market returns in US dollars.