The Money Maze: Investing in South Africa

Curro is set to be bought out for R7.2 billion by the Jannie Mouton Stigting, delisting from the JSE and converting into a nonprofit. The R13 per share offer is an 8% premium on the latest close and a 53% premium on the 30-day VWAP. In this Maze Dive, I break down the cash-and-share deal, the nonprofit pivot, and what it means for retail investors holding Curro. The Money Maze helps South African...

Mergers and Acquisitions sound like boardroom buzzwords, but for investors, they are basically corporate weddings, hostile takeovers, and the occasional messy divorce. In this episode, we break down what a merger is, what an acquisition is, and why companies do them. From SABMiller and AB InBev to Walmart buying Massmart, Sibanye rescuing Lonmin, and even DRA Global being bought out, we unpack the...

Spur has served up results juicier than their ribs: revenue up 11% to R3.9bn, profit before tax up 17.5% to R401.7m, and a massive 40% jump in dividends, giving investors a tasty 9.1% yield. We dive into the numbers, the brand glow-up across Spur, Panarottis, John Dory’s, Hussar Grill and Doppio Zero, and why Spur is feeding shareholders better than the kids in the play area. The Money Maze helps...

AGMs, EGMs, ordinary vs special resolutions, and why your single share actually gives you a voice. In this episode, we unpack how shareholder meetings work, what voting rights really mean, and why proxy voting matters. Whether you hold one JSE share or a whole portfolio, this jargon-busting guide will help you navigate boardroom decisions that impact your investments. The Money Maze helps South Af...

Confused by preference shares, ordinary shares, and those mysterious A and B share classes? In this episode of The Money Maze, Jay breaks down the differences, explains dividend rights, voting power, and why some shares act like VIP Woolies shoppers while others are stuck in the queue. Learn how JSE companies use share classes, and what it means for your portfolio. The Money Maze helps South Afric...

Standard Bank just dropped its half-year results, and the numbers are big. Headline earnings climbed 8% to R23.8 billion, return on equity rose to 19.1%, and the share price jumped 3%. But there’s a twist: CEO Sim Tshabalala and CFO Arno Daehnke plan to retire by 2027, even as the bank raised its executive retirement age. In this Maze Dive, we unpack the profits, the succession drama, and what it...

Ever owned shares and then got an email saying, “We need more money”? Welcome to the world of Rights Issues and Private Placements. In this episode, we unpack how each works, why JSE companies use them, and what it means for your portfolio. We keep it simple, with SA-flavoured humour and plain-English explanations, so you know when to grab the discount or walk away. The Money Maze helps South Afri...

Ever wondered what happens when a stock vanishes from your trading account? In this episode, we unpack JSE suspensions, delistings, and how they affect your shares. From shady admin to going private, we explain the real risks for retail investors and why reading those boring SENS reports could save your bacon. The Money Maze helps South African retail investors stop drowning in jargon and start na...

Thungela warns profits will drop up to 85%, with coal prices cooling, Transnet bottlenecks biting, and R285m in restructuring costs. We unpack what it means for dividends, ETFs, and retail investors who’ve been riding the coal wave. The Money Maze helps South African retail investors stop drowning in jargon and start navigating the market like someone who actually knows what they’re doing. This is...

Ever wonder why a stock suddenly pops up in your Top 40 ETF, or vanishes like your paycheck on the 25th? In this episode, we unpack how JSE index constituents are chosen, how rebalancing works, and the weighting tricks that can tilt your portfolio. Learn why index changes matter, and how they affect your ETFs and long-term returns. The Money Maze helps South African retail investors stop drowning...

Ever wondered why the JSE Top 40 moves even when half the shares are sleeping? Or why Naspers acts like the Springbok captain of your ETF? In this episode, we unpack Market Breadth, Index Weighting, and Free Float in plain English, with a side of South African humour. The Money Maze helps South African retail investors stop drowning in jargon and start navigating the market like someone who actual...

AngloGold Ashanti just dropped a quarter hotter than a KZN curry: free cash flow up 149%, gold production surging 21%, and an 80c interim dividend to sweeten the pot. Plus, their Nevada land grab signals big growth plans. We unpack the numbers, strategy, and risks behind this JSE giant. The Money Maze helps South African retail investors stop drowning in jargon and start navigating the market like...

Ever wondered why some JSE-listed companies also trade in London or why others delist altogether? In this episode, we unpack dual listings, the reasons behind delistings, and why big South African firms love a UK passport. We keep it simple, with real-world examples and that SA flavour. The Money Maze helps South African retail investors stop drowning in jargon and start navigating the market like...

Ever had a company ask you for more cash, offer shares instead of dividends, or buy its own shares like it’s running a Black Friday special? This episode breaks down Rights Issues , Scrip Dividends , and Share Buybacks in plain South African English. Learn what they are, why they happen, and how they affect your portfolio. The Money Maze helps South African retail investors stop drowning in jargon...

Hyprop’s bold bid to take over MAS Real Estate ended faster than payday cash at a braai. We break down why the R24 per share offer collapsed, what went wrong with the DJV agreements, and why governance risks can sink even the biggest deals. The Money Maze helps South African retail investors stop drowning in jargon and start navigating the market like someone who actually knows what they’re doing....

Why do offshore ETFs and REITs trade below what they’re worth? And why doesn’t your return ever match the index you bought? In this episode, we break down NAV discounts, ETF premiums, and tracking error—with plenty of South African humour. If you’ve ever scratched your head at your EasyEquities statement, this one’s for you. The Money Maze helps South African retail investors stop drowning in jarg...

Analyst reports love them, and M&A deals swear by them, but what do EV, EV/EBITDA and Price-to-Book actually mean? In this episode, we unpack these powerful valuation tools, why they matter beyond P/E, and how to use them when looking at banks, property stocks, and takeover targets. The Money Maze helps South African retail investors stop drowning in jargon and start navigating the market like...

Stefanutti Stocks just sold its Mozambique and Mauritius businesses for $4 million, but with a R1.3 billion hole between current assets and liabilities, is it enough? In this Maze Dive, we unpack the deal, rising profits, a healthy R8.6 billion order book, and that looming Eskom R138 million claim. We also examine the auditors’ going concern warning and whether this is a true turnaround or just pa...

Gearing ratio. Current ratio. Working capital. These aren’t just accounting buzzwords — they’re how you spot whether a company’s engine is running smoothly or held together with duct tape and debt. In this episode, we explain what each of these ratios tells you about a company’s financial health, especially in sectors like mining, construction and retail. Packed with South African flavour, plain E...

Not all dividends are created equal. In this episode, we break down dividend cover, forward yield, and special dividends in plain South African English. Learn how to spot risky payouts, interpret yield forecasts, and avoid confusing once-off bonuses for stable income. Perfect for EasyEquities users and JSE investors chasing passive income. The Money Maze helps South African retail investors stop d...

Ever wondered why JSE companies report HEPS and Core Earnings? This episode unpacks Headline Earnings per Share, what impairments mean for your portfolio, and why “core” profits aren’t always so pure. Perfect for South African retail investors tracking JSE results. We break it down with plain English and sharp humour. The Money Maze helps South African retail investors stop drowning in jargon and...

Don’t put all your boerewors in one braai. In this episode of The Money Maze, we explain how rebalancing keeps your portfolio aligned, why asset allocation drives most long-term returns, and how real diversification protects you from market meltdowns. Whether you're on EasyEquities or just getting started, this episode unpacks the tools every South African investor needs. The Money Maze helps...

Naspers and Prosus just dropped their full-year results, and the numbers are wild. Earnings doubled, e-commerce finally turned a profit, and AI is doing more than just sounding cool in a boardroom. In this Maze Dive, we unpack the 18× jump in adjusted income, the Tencent factor, and what’s actually changed inside these two tech-heavyweights listed on the JSE. No fluff, no hype, just plain English...

Think bonds and REITs are just for oumas in cardigans? Think again. In this episode, we break down how South African investors can use government bonds and listed REITs like Spear and Vukile to earn income, diversify risk, and buffer against inflation. From RSA Retail Savings Bonds on EasyEquities to REIT ETFs, we show you how to add stability and cash flow to your JSE portfolio. The Money Maze he...

What’s the difference between a share that rides the wave and one that stays steady through the storm? In this episode, we break down defensive vs cyclical stocks, why they behave differently, and how to build a balanced portfolio. Whether you hold Clicks or City Lodge , this episode’s for you. The Money Maze helps South African retail investors stop drowning in jargon and start navigating the mar...