The Money Maze: Investing in South Africa

When SENS says "exercise caution," what does that actually mean for your EasyEquities account? We unpack JSE cautionary announcements: how they differ from trading statements and suspensions, why companies publish them, and how Omnia's September 2026 cautionary-to-firm-intention arc shows the yellow card in real life, plus this month's Raubex and ArcelorMittal South Africa cautio...

Inland petrol just passed R30 a litre, and the same oil and shipping chaos handed Glencore's trading arm a bumper year. On 2 October, Glencore said its Marketing division (the traders, not the mines) now expects 2026 adjusted EBIT above US$5 billion, then reset what a normal year looks like from 2027: about $3.5 billion, in a range of $2.8 to $4.2 billion. We unpack what a commodity trading ar...

On the JSE, the story often starts before results day. We unpack trading statements: the 20% rule, how to read a HEPS percentage range on SENS, why EasyEquities prices can jump early, and how to use the trailer without confusing it for the full movie. Plain English for South African retail investors. The Money Maze helps you stop drowning in jargon and start navigating the market like someone who...

Capitec just reported a record half: headline earnings up 19% to R9.5 billion, an interim dividend of R31.10, and 26.6 million clients. But the bank also set aside more for bad debts, with the credit loss ratio up from 7.9% to 8.4%. Is that smart caution or a warning sign? We unpack the credit loss ratio with a stokvel treasurer, why fees now bring in 70% of the money, what a R100 billion loan boo...

The Reserve Bank just raised the repo rate to 7.25%. What does that actually mean for your bond, your savings and the shares in your EasyEquities account? We break down the repo rate and prime rate in plain English, why the Reserve Bank hiked on 23 September 2026 (inflation at 4.4%, target 3%), what 25 basis points costs a R1 million home loan, and the bull and bear case for JSE shares when rates...

Kumba Iron Ore just halved its interim dividend from R16.60 to R7.90 a share, with headline earnings down 41%. But the mine itself barely missed a beat. We unpack the strong rand, weak Chinese steel demand, record Northern Cape rainfall and Transnet's ten-day shutdown, then argue the bull and bear case for the JSE's favourite dividend stock. Plus the golden rule every yield chaser needs: h...

African Rainbow Minerals just approved roughly R16 billion, nearly half its market cap, to reopen the mothballed Bokoni platinum mine and restart the Nkomati nickel mine. This Sunday Maze Dive unpacks the R15.2 billion plan, what a brownfield restart means, why no rights issue matters for your shares, and whether this is counter-cyclical genius or a seven-year bet on a price ARM doesn't contro...

A year ago, Mantengu blamed short sellers. Now the audited numbers are in. We unpack the R315 million loss, the qualifiedaudit, the going concern warning, the Sublime mothballing, the Blue Ridge sale, and the Averi Finance reverse takeover that leaves shareholders with a third of the company. Bull and bear, in plain English. The Money Maze helps South African retail investors stop drowning in jarg...

Elon Musk was born in Pretoria. But Tesla, SpaceX, and his trillion-dollar net worth were built in California. So what does that tell you about capital, ambition, and the JSE? In this episode, we ask the uncomfortable questions: Why do our best founders leave? Why is the JSE shrinking? And where should your money actually go to access real growth? Because understanding why growth happens elsewhere...

Harmony Gold just met its full-year production guidance for the eleventh year running and handed shareholders R4.4 billion in dividends over the past twelve months. In this Sunday Maze Dive, we unpack the interim earnings surge, the Tshepong North impairment reversal, why HEPS grew slower than EPS, and Harmony's quiet pivot into copper through MAC Copper and the Eva Copper project. Gold, coppe...

Everyone celebrates “record profits” on the JSE. Cool. But where did the money actually go? In this episode, we break down the Statement of Retained Earnings, how dividends affect it, why capital allocation matters, and how retained earnings can either compound wealth or quietly destroy shareholder value. If you invest on EasyEquities and want to think like a long-term owner, this one matters. The...

Anglo American just slashed the value of De Beers by $2.3billion, marking the third diamond write-down in three years. But is this acollapse, or part of a bigger restructuring play? In this Maze Dive, we unpack the impairment, the 3.7-billion-dollarnet loss, copper’s role in holding the fort, and what this means for JSEinvestors watching Anglo in their Top 40 ETF. We cut through the drama and expl...

Trellidor just guided for a 95% to 99% collapse in HEPS.From 29.6 cents to almost nothing. In this Sunday Maze Dive, we unpack the trading statement, the R32 million court case hangover, weak South African demand, lumpy UK project revenue, and what a R1.96 share price really means forvaluation and a possible buyout. We break down HEPS, P/E ratios, turnaround risk and small-cap volatility in plain...

A company makes a profit… then cuts the dividend. Whatgives? In this episode of The Money Maze, Jay breaks down cash flow in plain English, explaining why profits don’t always mean cash, how dividends really get paid, and why “good results” can still end in rights issues. We unpack operating cash flow, free cash flow, working capital, and the red flagsRetail investors keep missing on the JSE. The...

Vukile Property Fund announced the disposal of part of its Spanish Castellana retail park portfolio, a move that matters for REIT investors watching NAV, dividends, and balance sheet strength. In this episode, I unpack the SENS, explain why REITs sell assets, what capital recycling really means, and how this could affect future distributions. Straight talk for JSE investors, no jargon, no hype. Th...

Executive hedging, Discovery headlines, and why the internet panicked too early. This Money Maze episode breaks down what executive hedging actually is, why markets reacted to Discovery’s hedge disclosure, and how timing plus uncertainty fuel overreactions from retail investors. I unpack: Executive hedging explained in plain language Why hedge length matters more than share sales How the Discovery...

After a short break (and a few power cuts in Zimbabwe), I'm is back — this time cracking open the story behind Coca-Cola’s R45 billion exit from direct bottling in South Africa. I unpack why the world’s most famous drink is handing over the factory keys, what it means for jobs, and whether this is a clever strategy or a sugar-tax dodge. The Money Maze helps South African retail investors stop...

Starbucks is closing hundreds of stores and spending $1 billion to do so. Sounds mad, right? In this Maze Dive, we unpack why the global coffee giant thinks dropping a billion now will save billions later, what it means for investors, and how it compares to our own JSE heavyweights pruning deadwood. From burnt boerie to bitter espresso, this one’s a braai-side chat on bold moves, big risks, and th...

Ever stared at a company’s results and felt like you were reading hieroglyphics? In this first episode of our four-part series on decoding financial reports, we break down the Income Statement. From revenue and gross profit to EBIT and net profit, I explain what it all means, with braai-side banter, tender irregularity jokes, and examples straight off the JSE. The Money Maze helps South African re...

Dividends sound like free money, but in South Africa, SARS takes its slice before you even taste the wors. In this episode, we unpack cash vs special dividends, yields, ex-dates, and why reinvesting is the secret sauce to compounding wealth. From banks to miners to ETFs, we show how dividends power long-term investing. The Money Maze helps South African retail investors stop drowning in jargon and...

National Treasury’s draft Taxation Laws Amendment Bill could quietly hammer South Africans invested in unit trusts. Fund mergers may now trigger immediate capital gains tax, creating a “dry tax” bill even if you didn’t sell a thing. In this episode, Jay unpacks how the proposed changes to sections 42 and 44 of the Income Tax Act could hit Collective Investment Scheme investors, why it’s being call...

ASP Isotopes just landed on the JSE under the code ISO, and the fireworks were immediate, from R217 at listing to over R1,100 in just a few days. In this Maze Dive, Jay unpacks what the company actually does (think Silicon-28, nuclear energy and medical isotopes), why it’s Nasdaq-listed but Pretoria-based, and whether the hype is more than just a hot start. We cover the milestones, risks, and what...

Think you need thousands to start investing? Think again. In this episode of The Money Maze, we bust the myth that the stock market is only for the rich. From starting with R5 on EasyEquities to using TFSAs, lump sums, or monthly debit orders, we break down how everyday South Africans can get invested without breaking the bank. We also unpack fractional shares, fees, and the power of compounding....

Keen to start investing but not sure where to begin? In this episode of The Money Maze, Jay breaks down the basics: why investing matters, how much you really need to start, where South Africans can invest (JSE, ETFs, offshore), and the biggest rookie mistakes to avoid. Simple, practical, and with just enough South African flavour to keep it lekker. The Money Maze helps South African retail invest...

MAS plc’s results looked good on paper: profits up, NAV higher, debt low, but no dividend again. The share price dipped, investors on X cried “scam,” and PKI’s joint venture with MAS has everyone asking who’s really benefiting. In this Maze Dive, Jay unpacks the numbers, the takeover battle, and why shareholders feel sidelined. The Money Maze helps South African retail investors stop drowning in j...