• The Government of National Unity (GNU) has come close to fracturing under the weight of irreconcilable ideologies.

• In the US, President Trump imposed the harshest global trade tariffs in over a century, throwing global markets into turmoil. Forecasting in such an environment is inherently difficult. Conditions are shifting fast, and financial markets are volatile. Our Q2 2025 forecasts aim to provide strategic guidance for clients rooted in high-probability outcomes, while acknowledging that low-probability scenarios may still materialise.