Ghost Stories

For more than 25 years, Satrix has helped South Africans access local and global markets through ETFs. Now, the business is taking that expertise beyond the country's borders, with listings in Namibia, Botswana and Kenya as it works to bring simple, low-cost investment solutions to a new generation of African investors. In this episode of the Ghost Stories podcast, The Finance Ghost is joined by D...

Burstone has evolved from a traditional property company into something very different. Instead of relying on shareholders to fund growth, the company is increasingly using institutional partners and private capital to scale its platform. But can that model deliver the returns that investors are looking for? In this episode of Ghost Stories , Andrew Wooler (CEO of Burstone Group) joins The Finance...

Debt has never been simple, but the shift from JIBAR to ZARONIA has added a whole new layer of complexity. In this episode of Ghost Stories , The Finance Ghost is joined by Ian Norden of Intengo Market to unpack what South Africa's new benchmark rate means for borrowers, lenders and treasury teams, and why debt management is becoming increasingly data-intensive. From covenant tracking and hedging...

A year after becoming the first JSE-listed company to join Ghost Stories for a results podcast, STADIO returns to discuss the next chapter of its growth journey. CEO Chris Vorster and CFO Ishak Kula unpack how the group reached its 56,000-student target and, more importantly, how it plans to grow to 80,000 students by 2030 while maintaining academic quality, affordability and attractive returns on...

Changing auditors is not something most CFOs do often, but when the moment arrives, the decision can have far-reaching implications for governance, stakeholder confidence and the effectiveness of the audit process. In this episode of Ghost Stories , The Finance Ghost is joined by Yolandie Ferreira, Head of Africa for Forvis Mazars Africa, to explore what companies should consider when appointing a...

Modern life is a relentless stream of decisions. From school WhatsApp groups and overflowing inboxes to family logistics, work pressures and household finances, the mental load never seems to give us any relief. In this episode of Ghost Stories , The Finance Ghost is joined by Colleen Wagner, CFO of Satrix, to unpack the concept of decision fatigue and why it so often causes long-term financial go...

The award-winning Investec Structured Products team brings you the latest iteration of International Titans Basket Ltd. This product offers 100% capital protection and geared upside (with a cap), referencing a basket of underlying global equity indices. Bringing decades of experience and passion to this discussion, Japie Lubbe walks us through exactly how the structure works. In this podcast: 00:0...

How do you know whether your investment performance is actually good? In this episode of Ghost Stories, The Finance Ghost is joined by Siyabulela Nomoyi from Satrix to unpack one of the most important, yet often misunderstood, concepts in investing: benchmarks. From retail portfolios to institutional mandates, they explore why returns only tell half the story and why every investment outcome needs...

In this episode of the Ghost Stories podcast, The Finance Ghost sits down with Reza Fakie, portfolio co-manager of the Old Mutual Investment Group Global Managed Alpha Fund. The fund has delivered consistent outperformance against its benchmark since inception, but the real story is how it does it. Reza takes us inside the world of quantitative investing, explaining how academic research, factor i...

Due diligence is often described as "doing your own research" before an acquisition, but the reality is far more complex. In this episode of Ghost Stories, The Finance Ghost is joined by Althea Soobyah, Bongiwe Mbunge and Johan Marais from Forvis Mazars to unpack what a modern due diligence process really looks like. From financial and tax diligence through to ESG and HR considerations, the discus...

Volatility feels like risk. The daily noise, the red screens, the uncomfortable drawdowns - these are the stress points for investors. This is what might keep you out of the market altogether. But what if the real risk was avoiding the markets over the long-term, rather than managing the bumps along the way? In this episode, Satrix CIO Kingsley Williams joins The Finance Ghost to unpack one of the...

The Finance Ghost sits down with Tokollo Tau from Nedbank CIB to unpack how South Africa’s energy landscape is evolving beyond the dark days of load shedding. What once felt like a permanent crisis has receded into the background, but the real story now is what’s being built in its place (like power wheeling and aggregation). Against the backdrop of the Africa Energy Forum, the conversation explor...

The Finance Ghost welcomes Altron CEO Werner Kapp fresh off a standout capital markets day that left a strong impression: this is a business whose growth story isn’t tightly tethered to South Africa’s traditional economic constraints. From FinTech and HealthTech to telematics and IT security, Altron operates a portfolio of platform businesses that quietly underpin everyday life, even if most consu...

In this episode of Ghost Stories , The Finance Ghost sits down with Investec’s Brian McMillan, fresh off collecting the “Best Issuer in Africa” award in Stockholm on behalf of the Investec Structured Products team. The team's product innovation and ability to earn a place for structured products in modern portfolios is being increasingly recognised. The latest such product example is the Investec...

In this episode of Ghost Stories , we welcome Old Mutual Investment Group to the platform for the first time. The Finance Ghost sits down with Maahir Jakoet, lead manager of the Old Mutual Global Islamic Equity Fund, to look back on a decade of top quartile performance. As part of Old Mutual Investment Group’s Championing the Unseen campaign, this podcast lifts the lid on how Shari’ah-compliant in...

In this episode of Ghost Stories , I was joined by Satrix’s Nico Katzke to unpack a global market that feels eerily calm in the face of rising risk. From Middle East tensions and the growing threat of energy disruption to the curious resilience of equity markets, the conversation explores whether investors are underpricing just how fragile the current environment really is. With oil prices climbin...

In this episode of Ghost Stories , The Finance Ghost goes beyond the headline numbers and gets under the hood of WeBuyCars with Deputy CEO Wynand Beukes and CFO Chris Rein. Instead of rehashing the latest earnings, the conversation focuses on what really matters: how the business is adapting to a rapidly shifting automotive market, from the rise of Chinese brands to increasing pressure on pricing...

Sibanye-Stillwater CEO Richard Stewart has stepped into the top job at a time when the company is printing money in its gold and PGM operations. But success during the favourable times in the cycle is driven by what a mining company does  through  the cycle. From cost control measures through to strategic commodity investments, there are many strategies that Sibanye-Stillwater uses to create long-...

Reeza Isaacs is the newly appointed CEO of SPAR. As hot seats go, this one is warmer than a freshly-baked bread at your local store. With plenty of experience in difficult retail settings, Isaacs is excited for the challenge. He believes strongly in the independent retail model that forms the underpin of the SPAR wholesale business. Through a focused strategy on Ireland and South Africa, SPAR is c...

In this episode of Ghost Stories , we get stuck into the world of fixed income - a space that retail investors often overlook in favour of equities. Yusuf Wadee of Satrix concurs with  The Finance Ghost's cricket analogy: fixed income returns act as the singles that keep the scoreboard ticking over. But that doesn't mean that investors should default to low-yield cash accounts. Veteran fixed-incom...

At Forvis Mazars in South Africa, the team is actively working on AI-driven solutions for clients. Shane Cooper (Head of Digital Advisory) is spearheading this effort, with one of the applications of this technology being in the portfolio management space. Institutional investors with complex structures face multiple challenges in managing their investments. As Shane explains in this podcast, it's...

Private markets are playing a growing role in global investing. Private equity, private credit, infrastructure and private property investments are a significant part of economic activity. And with more companies remaining private for longer, investors will need to look deeper for the opportunities of tomorrow. These markets come with challenges related to daily price discovery, liquidity and due...

The ocean is a mystical place that has captured our imagination as a species for as long as anyone can remember. And although there are many fish in the sea, unlocking that resource in a sustainable and profitable way really isn’t that simple. Sea Harvest has signed off on an incredible year that demonstrates the depth of the strategy - quite literally. The way they think about the various seafood...

Get ready for a masterclass in retail from Pieter Engelbrecht, CEO of South Africa's largest employer. If you're ready to learn about the secrets to Shoprite's success, you're in the right place. It starts with the culture and commitment to delivering value to customers. You can then add the power of investment in data and systems, creating the foundation for an omnichannel model that has position...

South Africa’s 2026 Budget Speech announced a mix of bold, interesting and ultimately positive changes - especially for small businesses and South African investors. With pro-business policies that signal economic stability, could this be a turning point for the country? Described affectionately by Tertius Troost (Associate Director - Tax Consulting at Forvis Mazars) as a "boring" budget, this is...