The Money Maze: Investing in South Africa

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...

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...