Strong issuance in South Africa’s debt capital market continued in fourth quarter of 2025

Strong issuance in South Africa’s debt capital market continued in the fourth quarter of 2025, with about R50-billion of gross term issuance recorded, amid strong demand and spread compression, slightly behind the R53-billion issued in the prior quarter, says investment management company Futuregrowth in its latest quarterly listed credit market review. In line with the trend over the year, banks and financial services dominated the quarter’s issuance at R22-billion, followed by corporates at R13-billion, State-owned enterprises (SoEs) at R12-billion and securitisations at R4-billion.