From financial and tax diligence through to ESG and HR considerations, the discussion explores how buyers identify hidden risks, validate value and avoid expensive mistakes. The conversation also dives into deal structuring, cross-border complexities, tax exposures, cultural risks and the growing importance of non-financial factors in corporate transactions.

Whether you're a CFO, investor, business owner or dealmaker, this episode offers valuable insights into what happens after the letter of intent is signed and the real work begins.

After all, the due diligence can make or break a transaction!

In this episode:

• Financial DD fundamentals: How buyers assess earnings quality, working capital and the key value drivers of a business.
• Tax traps and opportunities: Why tax diligence goes beyond compliance and can materially impact deal structure and valuation.
• The rise of ESG due diligence: Understanding culture, governance, workforce risks and sustainability factors that influence long-term value.
• Cross-border transaction challenges: Navigating tax, regulatory and operational risks across multiple jurisdictions.
• One deal, many workstreams: How coordinating financial, tax and ESG due diligence can improve efficiency and support better decision-making.

Connect with the Forvis Mazars team:

• Althea Soobyah - website and LinkedIn
• Bongiwe Mbunge - website and LinkedIn
• Johan Marais - website and LinkedIn

This podcast is brought to you by Forvis Mazars in South Africa.

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 most powerful (and misunderstood) truths in investing: playing it safe may be the riskiest strategy of all. "Over-saving" and "under-investing" can severely damage a long-term wealth creation journey.

In this episode:

• Why volatility is uncomfortable, but not the risk you should fear most
• The concept of opportunity cost risk and how it destroys long-term returns
• How time in the market reduces the probability of capital loss
• Why equities remain the most reliable long-term hedge against inflation
• The critical difference between saving and investing (and why it matters)

Disclaimer:

Satrix Managers (RF) (Pty) Ltd is a registered and approved Manager in Collective Investment Schemes in Securities. Collective investment schemes are generally medium- to long-term investments. With Unit Trusts, Exchange Traded Funds (ETFs) and Actively Managed ETFs (AMETFs), the investor essentially owns a “proportionate share” (in proportion to the participatory interest held in the fund) of the underlying investments held by the fund. With Unit Trusts, the investor holds participatory units issued by the fund while in the case of ETFs and AMETFs, the participatory interest, while issued by the fund, comprises a listed security traded on the stock exchange. ETFs and AMETFs are registered as a Collective Investment and can be traded by any stockbroker on the stock exchange, LISP platforms and / or via online trading platforms. ETFs and AMETFs may incur additional costs due to being listed on the JSE. Past performance is not necessarily a guide to future performance, and the value of investments / units may go up or down. A schedule of fees and charges, and maximum commissions is available on the Minimum Disclosure Document or upon request from the Manager. Collective investments are traded at ruling prices and can engage in borrowing and scrip lending. Should the respective portfolio engage in scrip lending, the utility percentage and related counterparties can be viewed on the ETF and AMETF Minimum Disclosure Document. AMETFs are ETFs are actively traded by a Portfolio Manager to adjust the AMETF holdings and asset allocation with the aim to outperform the benchmark. AMETFs differ from ETFs which only track indices. The Manager does not provide any guarantee, either with respect to the capital or the return of a portfolio. The index, the applicable tracking error and the portfolio performance relative to the index can be viewed on the ETF and AMETF Minimum Disclosure Document and/or on https://satrix.co.za/products.  

Against the backdrop of the Africa Energy Forum, the conversation explores the infrastructure and commercial models that are reshaping how electricity is generated, moved and sold across the country, unlocking new levels of flexibility and opportunity for businesses.

With practical examples like the multi‑billion‑rand Notsi Solar Project, Tokollo explains how aggregators are bridging the gap between generators and large energy users, helping to solve coordination challenges and accelerate investment in the sector. The discussion also highlights Eskom’s evolving role as an enabler of this ecosystem, and what a truly tradable electricity market could look like in South Africa.

The result is a compelling look at a market in transition and why this could mark the start of a far more competitive, efficient and investable energy future.

Key topics covered:

• What power wheeling and energy aggregation actually mean (without the jargon)
• How projects like Notsi Solar demonstrate the new energy ecosystem in action
• Why aggregators are critical to unlocking investment and reducing project risk
• Eskom’s shifting role in a more open, competitive electricity market
• The long-term outlook: towards a tradable electricity market and greater energy choice

 In this conversation, Werner unpacks how these platforms drive resilient, annuity-style revenues, while also leaning into powerful structural tailwinds like digitisation, mobile adoption and the evolution of the payments ecosystem.

The discussion goes deeper into the mechanics of the Altron model. From competitive moats built over decades, to the strategic role of data, AI and capital allocation across a diversified platform base, there’s much to discuss. Werner also explains the thinking behind the group’s AI factory, its disciplined approach to growth vs margins, and why regulatory change in FinTech could unlock meaningful upside.

This is a rare, detailed look inside a South African tech business that touches millions of lives every day.

Topics in this podcast:

• Why Altron’s platform businesses can grow independently of SA GDP constraints
• The difference between platform vs IT services exposure to economic cycles
• Real-world examples of how Altron products are used daily (IDs, payments, healthcare, vehicle tracking)
• South Africa’s digital adoption curve and key structural tailwinds
• The impact of payments modernisation (PayShap, SARB reforms) on FinTech
• Building and defending a moat through data, distribution and embedded systems
• How Altron uses cross-platform data insights to enhance value
• The role and strategy behind the AI factory (and why it’s not a GPU business)
• Managing capital allocation across multiple platforms with a strong annuity base
• Growth vs margin trade-offs in a competitive tech landscape
• Netstar dynamics: OEM channels, Chinese vehicle growth and market shifts
• Fintech upside from potential direct access to payment rails
• Why Altron’s 91% annuity revenue model is central to its investment case

This podcast has been sponsored by Altron. As always, I was allowed to ask whatever I felt is relevant to investors. Please do your own research and treat this as only one part of your research process. Please always speak to a financial advisor before making any investments.

The latest such product example is the Investec Nasdaq 100 Geared Growth structure. With much debate around the market valuations in this tech-heavy index, this structure is designed to appeal to investors who are finding it difficult to balance the desire to get involved against the risk of being late to the party.

Through a combination of 1.25x geared upside (with a cap) and partial downside protection (a drop of up to 40%), the Investec Nasdaq 100 Geared Growth structure creates a fascinating risk-return profile. 

Key topics covered:

• The choice of the Nasdaq 100 index at this stage in the cycle
• The underlying themes in this index across AI and valuations, including reference to the bull and bear cases
• How geared upside (1.25x) with a 60% cap works
• The downside protection mechanism
• Rand-denominated exposure and removing USD currency risk
• The Flexible Investment Note structure and reinvestment mechanics
• Liquidity via the JSE listing and daily pricing
• An understanding of the underlying credit risk
• Fees and why returns are quoted net of costs
• Minimum investment and access via advisors, stockbrokers and EasyEquities

You can find all the information you need on the Investec website at this link.

Disclaimer

As part of Old Mutual Investment Group’s Championing the Unseen campaign, this podcast lifts the lid on how Shari’ah-compliant investing can deliver unexpected outperformance vs. traditional funds. A constrained investment universe with tight rules can create a powerful framework for risk management and long-term returns. The result? A portfolio that has historically delivered lower drawdowns, faster recoveries and a compelling growth tilt, all while staying firmly within clearly defined guardrails.

In this episode:

• What Shari’ah compliance really means in practice and how the rules are applied
• The positive impact on portfolio risk and drawdowns of excluding highly leveraged businesses
• How the fund performed through the GFC, COVID and rate shocks
• The structural tilt towards tech, healthcare and capital-light businesses – and away from banks
• Sources of outperformance over the past decade
• When the strategy is likely to underperform (and why that’s okay)
• How a rules-based, systematic process helps remove emotional decision-making
• The role of Sortino ratios, factor scoring and portfolio construction discipline
• What differentiates this fund from passive Shari’ah ETFs

 Old Mutual Investment Group (Pty) Ltd is an authorised financial services provider, FSP 604. The contents of this podcast and, to the extent applicable, the comments by presenters do not constitute advice as defined in FAIS. Although due care has been taken in recording this podcast, Old Mutual Investment Group does not warrant the accuracy of the information contained herein and therefore does not accept any liability in respect of any loss you may suffer as a result of your reliance thereon. Past performance is not necessarily a guide to future investment performance. For more information, visit www.oldmutualinvest.com/institutional

With oil prices climbing and inflation risks creeping back into the narrative, this episode digs into what it all means for portfolios. From the outlook for South African equities and resources to the surprising strength in US earnings, there's much to discuss.

Along the way, we tackled ETFs, market complacency, and whether concepts like “bubbles” even matter in a world being rapidly reshaped by AI and shifting global power dynamics.

In this episode:

• Why oil prices and the Strait of Hormuz matter more than ever
• The risk of market complacency in the face of geopolitical tension
• How energy shocks could drive inflation and hit consumers
• Why SA resources have surged - and whether it can continue
• The resilience (and risks) within US equity markets
• Stagflation risk and the long-term outlook for the dollar
• How ETFs can help navigate uncertain markets
• Why “bubbles” might actually be part of progress in innovation

Disclaimer:

Satrix Managers (RF) (Pty) Ltd is a registered and approved Manager in Collective Investment Schemes in Securities. Collective investment schemes are generally medium- to long-term investments. With Unit Trusts, Exchange Traded Funds (ETFs) and Actively Managed ETFs (AMETFs), the investor essentially owns a “proportionate share” (in proportion to the participatory interest held in the fund) of the underlying investments held by the fund. With Unit Trusts, the investor holds participatory units issued by the fund while in the case of ETFs and AMETFs, the participatory interest, while issued by the fund, comprises a listed security traded on the stock exchange. ETFs and AMETFs are registered as a Collective Investment and can be traded by any stockbroker on the stock exchange, LISP platforms and / or via online trading platforms. ETFs and AMETFs may incur additional costs due to being listed on the JSE. Past performance is not necessarily a guide to future performance, and the value of investments / units may go up or down. A schedule of fees and charges, and maximum commissions is available on the Minimum Disclosure Document or upon request from the Manager. Collective investments are traded at ruling prices and can engage in borrowing and scrip lending. Should the respective portfolio engage in scrip lending, the utility percentage and related counterparties can be viewed on the ETF and AMETF Minimum Disclosure Document. AMETFs are ETFs are actively traded by a Portfolio Manager to adjust the AMETF holdings and asset allocation with the aim to outperform the benchmark. AMETFs differ from ETFs which only track indices. The Manager does not provide any guarantee, either with respect to the capital or the return of a portfolio. The index, the applicable tracking error and the portfolio performance relative to the index can be viewed on the ETF and AMETF Minimum Disclosure Document and/or on https://satrix.co.za/products.  

At the heart of it all is data. From Bayesian pricing models to proprietary software and AI-driven decision-making, WeBuyCars is building a competitive edge that goes far beyond scale. This episode explores how the company uses data to manage risk, optimise inventory, and keep turning stock in a deflationary market - and why getting the buying decision right is everything.

This podcast deals with topics like:

• What “percentile-based buying” actually means in practice
• The impact of Chinese vehicle entrants on pricing and margins
• Why the "up to R250k" segment is strategically critical and the competitive realities at higher price points
• How WeBuyCars uses data and machine learning to price risk
• The “empty bay problem” and why growth requires bold decisions
• Inventory risk, margin pressure and managing a deflationary market
• Why WeBuyCars sees itself as a technology business at heart

Important disclosure: The Finance Ghost has a shareholding in WeBuyCars.

WeBuyCars believes strongly in the value of Ghost Mail in the South African investment ecosystem. They have sponsored this podcast for readers, but The Finance Ghost was allowed to ask whatever he wanted to ask. Please do your own research and do not treat this podcast as an endorsement of WeBuyCars as an investment.

From cost control measures through to strategic commodity investments, there are many strategies that Sibanye-Stillwater uses to create long-term shareholder value. In this excellent discussion, Richard gives us deeper insights into the operating environment and how the group positions itself over time.

This podcast deals with topics like:

• The reality behind Sibanye’s surge in EBITDA
• How the gold and PGM portfolios are structured (and why it matters)
• Synergies from consolidation and the economics of contiguous mining assets
• The shift from deep-level to shallow gold operations and what it means for margins
• Cost management, AISC, and building resilience through the cycle
• Mechanisation strategy in the US and its impact on productivity and costs
• Section 45X credits and the geopolitics of critical minerals
• South Africa’s “green shoots” vs persistent structural challenges
• Sibanye’s lithium strategy and positioning in EV supply chains
• The growing importance of recycling as a stabiliser in volatile markets
• Oil price impacts: what matters, what doesn’t, and what to watch
• The one factor that keeps the CEO up at night (hint: it’s not commodity prices)

Sibanye-Stillwater believes strongly in the value of Ghost Mail in the South African investment ecosystem. They have sponsored this podcast for readers, but I was allowed to ask whatever I wanted to ask. Please do your own research and do not treat this podcast as an endorsement of Sibanye-Stillwater as an investment.

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 committed to getting the basics right and demonstrating the benefits of independent retail.

This podcast deals with topics like:

• Management stability and long‑term commitment at SPAR.
• Lessons from offshore activities and why Ireland is different.
• The strengths and trade-offs of SPAR's wholesale and independent retailer model.
• SAP implementation failures and risk mitigation strategies.
• Rebuilding retailer trust and loyalty, especially in KZN.
• Online, on‑demand retail, and SPAR’s pragmatic participation strategy.
• Margin recovery initiatives and operational self‑help levers.
• Growth adjacencies, including pharmacy, pet care, and private label.

SPAR believes strongly in the value of Ghost Mail in the South African investment ecosystem. They have sponsored this podcast for readers, but I was allowed to ask whatever I wanted to ask. Please do your own research and do not treat this podcast as an endorsement of SPAR as an investment.

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-income portfolio manager James Turp from Ninety One explains how his funds aim to optimise returns in the sweet spot between cash and bonds. And now, with the launch of the Satrix Income Actively Managed ETF (AMETF), investors have an easy way to access this expertise.

Topics covered in this podcast:

• How a balanced approach to equities and fixed income helps build an innings
• Diversification, volatility, and survivorship bias
• How most investors fall into “lazy cash” traps
• The structure and purpose of the Satrix Income AMETF
• How the partnership between Satrix and Ninety One works
• How James constructs an active fixed‑income portfolio
• Duration, interest‑rate cycles, and inflation dynamics
• Liquidity and accessibility of an actively managed ETF
• Tax‑free savings considerations for fixed‑income ETFs

Keen to learn more? Check out the Satrix Income AMETF (JSE: STXINC) here.

Please remember that nothing you hear on Ghost Stories should be treated as advice. You must always speak to your personal financial advisor.

Satrix Managers (RF) (Pty) Ltd a registered and approved Manager in Collective Investment Schemes in Securities. Collective investment schemes are generally medium- to long-term investments. With Unit Trusts, Exchange Traded Funds (ETFs) and Actively managed ETFs (AMETFs) the investor essentially owns a “proportionate share” (in proportion to the participatory interest held in the fund) of the underlying investments held by the fund. With Unit Trusts, the investor holds participatory units issued by the fund while in the case of an ETFs and AMETFs, the participatory interest, while issued by the fund, comprises a listed security traded on the stock exchange. ETFs and AMETF are registered as a Collective Investment and can be traded by any stockbroker on the stock exchange, LISP platforms and or via online trading platforms. ETFs and AMETFs may incur additional costs due to it being listed on the JSE. Past performance is not necessarily a guide to future performance, and the value of investments / units may go up or down. A schedule of fees and charges, and maximum commissions are available on the Minimum Disclosure Document or upon request from the Manager. Collective investments are traded at ruling prices and can engage in borrowing and scrip lending. Should the respective portfolio engage in scrip lending, the utility percentage and related counterparties can be viewed on the ETF and AMETF Minimum Disclosure Document. The index, the applicable tracking error and the portfolio performance relative to the index can be viewed on the ETF and AMETF Minimum Disclosure Document. International investments or investments in foreign securities could be accompanied by additional risks such as potential constraints on liquidity and repatriation of funds, macroeconomic risk, political risk, foreign exchange risk, tax risk, settlement risk as well as potential limitations on the availability of market information. AMETF are ETFs which are actively traded by a Portfolio Manager to adjust the AMETF holdings and asset allocation with the aim to outperform the benchmark. AMETF differ from ETFs which only track indices. The Manager does not provide any guarantee either with respect to the capital or the return of a portfolio. Satrix retains full legal responsibility for the co-named portfolios. 

The management of this investment is outsourced to Sanlam Investment Management (Pty) Ltd, an authorised Financial Services Provider (FSP No. 579) that forms part of the Ninety One group of companies. 

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 an operating model problem rather than a software problem - but AI can help.

Rishi Juta (Director of Corporate Finance) joined this discussion to deliver insight into real-world applications across due diligence and risk management. It's all about transforming unstructured data and commentary into useful information for decision-making.

This is an excellent introduction to the technology that Forvis Mazars in South Africa is developing for institutional clients.

Topics covered in this podcast:

• The shift from mechanical work to judgement work - and why it changes the entire process of portfolio oversight.
• Why unstructured data (like management commentary and board‑pack narratives) often tells you more than the numbers.
• How “intelligent ingestion” lets AI chew through PDFs, emails, scans, and commentary like a grown‑up sorting out a toddler’s plate of vegetables.
• Early‑warning risk signals across a portfolio: covenant pressure, reporting behaviour, management tone, governance drift, sector stress and more.
• How this tech is being built specifically for regulated environments - IFRS, GRAP, scenario planning, traceability, explainability and all the governance that institutions actually need.
• Why large‑scale portfolios guarantee that humans will miss something - and how an AI layer can stop the rot early, while still taking advantage of having a human in the loop.

If you would like to learn more about this technology, connect with Shane Cooper or Rishi Juta on LinkedIn. For more information on AI-specific applications, you'll find Shane's contact details on the Forvis Mazars website.

These markets come with challenges related to daily price discovery, liquidity and due diligence. Although ETFs cannot solve these issues, they can act as a liqudity sleeve in situations where committed institutional capital can be invested in a liquid ETF until the private market manager calls the capital.

The benefits of this approach include reduced cash drag, efficient cost management in transactions and more certainty over cash deployment for the parties to a transaction.

Duma Mxenge, Head of Business & Market Development at Satrix, joined me on this podcast to explain exactly how this works.

This discussion is aimed at institutional investors and professionals who are active in private markets.

This podcast was first published here. 

Disclaimer:

Satrix Investments (Pty) Ltd & Satrix Managers (RF) (Pty) Ltd is an authorised financial services provider. The information does not constitute advice as contemplated in FAIS. Use or rely on this information at your own risk. Consult your Financial Adviser before making an investment decision. While every effort has been made to ensure the reasonableness and accuracy of the information contained in this document (“the information”), the FSP’s, its shareholders, subsidiaries, clients, agents, officers and employees do not make any representations or warranties regarding the accuracy or suitability of the information and shall not be held responsible and disclaims all liability for any loss, liability and damage whatsoever suffered as a result of or which may be attributable, directly or indirectly, to any use of or reliance upon the information. For more information, visit https://satrix.co.za/products

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 products is fascinating, as explained by CEO Felix Ratheb on this podcast.

With operating margin more than doubling in 2025 and headline earnings coming in 4.2x higher than the prior year, this income statement has plenty of operating leverage. This adds to the intrigue around the business model and how the group is managed, with those insights delivered by CFO Muhammad Brey in this discussion.

Get ready to learn from Felix and Muhammad on this excellent podcast. The passion for the ocean comes through just as clearly as the numbers.

This podcast deals with topics like:

• The importance of hake to Sea Harvest's business
• Diversification beyond hake - and beyond South Africa's waters as well
• Why the Ladismith Cheese disposal makes strategic sense
• Key features of the business model that lead to such high operating leverage
• The approach taken to managing financial risks like fuel costs and forex movements
• Sustainable fishing and how Sea Harvest interacts with the precious resources in our oceans
• The financial outlook for the group, recognising the cyclicality in the model

Sea Harvest believes strongly in the value of Ghost Mail in the South African investment ecosystem. They have sponsored this podcast for readers, but I was allowed to ask whatever I wanted to ask. Please do your own research and do not treat this podcast as an endorsement of Sea Harvest as an investment.

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 positioned Checkers as the biggest brand in South Africa - and not just in retail.

With the South African retail sector having to navigate tremendous challenges, Shoprite keeps coming out on top. But how do they do it?

This podcast deals with topics like:

• The "secret sauce" at Shoprite and the culture in the group.
• The importance of inflation in the retail business model and how deflation makes things much tougher.
• The difference between Shoprite's measure of inflation and the Official Food Basket used by the SARB in making decisions.
• The power of the Checkers brand and how Shoprite has taken it right to the top in South Africa - as anyone with a toddler on a Sixty60 bike can confirm!
• How value retailers can achieve such strong gross margins through efficiencies.
• The omnichannel strategy and the parallels to a global giant like Walmart.
• The elevator pitch for why an investor should consider Shoprite.

Shoprite believes strongly in the value of Ghost Mail in the South African investment ecosystem. They have sponsored this podcast for readers, but I was allowed to ask whatever I wanted to ask. Please do your own research and do not treat this podcast as an endorsement of Shoprite as an investment.

Described affectionately by Tertius Troost (Associate Director - Tax Consulting at Forvis Mazars) as a "boring" budget, this is the first time in years that we've seen any kind of tax relief for South Africa's middle class. In his words, it's a pivot to stability - and at a time when things are really looking up for South Africa.

He joined me on this podcast to break down the budget basics and to specifically comment on areas like:

• How the budget addresses "bracket creep" by adjusting personal income tax brackets for inflation. 
• The increase in the VAT registration threshold and how this assists small businesses.
• A boost for investors in the form of a higher annual limit for Tax-Free Savings Accounts (TFSA).
• The approach taken to online gambling and whether education and regulation should precede taxes.
• Other changes aimed at helping South Africans with retirements savings and even global investments.

You can connect with Tertius on LinkedIn here.

As always, please discuss the impact of the tax changes on your affairs with your personal financial advisor. Nothing you hear on this podcast should be interpreted as advice.

If you're ready to learn more about Europe and Japan, then you're in the right place.

Why does it matter? For most South African investors, offshore exposure is really just a proxy for US tech names. It's hard to avoid this outcome, as Big Tech has been the driving force of most global indices, let alone US indices. The Magnificent Seven are everywhere.

Well, almost everywhere.

Diversification across both sectors and regions is important for investors. In that spirit, Satrix has launched the Satrix Stoxx Europe 600 ETF and the Satrix MSCI Japan ETF.

Siyabulela Nomoyi of Satrix joined me to unpack these offerings. This included discussions on:

• The macro trends in each region and how they have such different top-of-mind items at the moment
• The nature of the underlying indices tracked by these ETFs and how they vary in terms of market depth and sector exposures
• The investment thesis for each regions and what the drivers of returns will likely be over time
• How both products should be seen as complementary to the global picture

If your portfolio is a Lego structure, Satrix has just given you two new pieces.

This podcast was first published here. 

Disclaimer:

Satrix Investments (Pty) Ltd & Satrix Managers (RF) (Pty) Ltd is an authorised financial services provider. The information does not constitute advice as contemplated in FAIS. Use or rely on this information at your own risk. Consult your Financial Adviser before making an investment decision. While every effort has been made to ensure the reasonableness and accuracy of the information contained in this document (“the information”), the FSP’s, its shareholders, subsidiaries, clients, agents, officers and employees do not make any representations or warranties regarding the accuracy or suitability of the information and shall not be held responsible and disclaims all liability for any loss, liability and damage whatsoever suffered as a result of or which may be attributable, directly or indirectly, to any use of or reliance upon the information. For more information, visit https://satrix.co.za/products

Corporate credit (or "debt" from the company perspective) is a key source of funding for companies and can drive higher returns for equity investors if used properly. For investors in these credit instruments, optimising yield and risk are key. 

But as we observe a world of shrinking public issuance and growing demand for yield, will private credit be able to address this imbalance and fill the gap?

Intengo sits at the coalface of this industry, building the data and workflow systems that allow private credit markets to scale responsibly, transparently and efficiently. They are playing the crucial role of building sonar in a market where you'll find private credit sitting below the surface. 

Key themes covered:

• Private credit vs listed credit — and why the distinction matters
• Why credit markets are buy-and-hold by design
• Supply–demand imbalances in South African debt markets
• The rise of hedge funds and alternative assets
• Data, complexity, and the future of private credit infrastructure
• What private credit growth signals about economic growth

Aside from a discussion on the various property strategies followed by investors (ranging from buy-to-let through to owning REITs and associated ETFs), this podcast gives you details on the existing suite of property ETFs and unit trusts offered by Satrix. This includes the Satrix Property ETF (JSE: STXPRO) that Ghost loves owning in his tax-free savings account.

And of course, there was much focus placed on the new ETF in the stable: the Satrix Global Property ETF (JSE: STXGLP). With rand-denominated exposure to offshore property, this ETF brings property asset classes that you won't find anywhere else on the JSE (like senior housing and data centre funds).

Get ready to learn about how to broaden and diversify your equity exposure in property. 

This podcast was first published here.

Disclaimer:

Satrix Investments (Pty) Ltd & Satrix Managers (RF) (Pty) Ltd is an authorised financial services provider. The information does not constitute advice as contemplated in FAIS. Use or rely on this information at your own risk. Consult your Financial Adviser before making an investment decision. While every effort has been made to ensure the reasonableness and accuracy of the information contained in this document (“the information”), the FSP’s, its shareholders, subsidiaries, clients, agents, officers and employees do not make any representations or warranties regarding the accuracy or suitability of the information and shall not be held responsible and disclaims all liability for any loss, liability and damage whatsoever suffered as a result of or which may be attributable, directly or indirectly, to any use of or reliance upon the information. For more information, visit https://satrix.co.za/products

To reflect on 25 years of ETFs in South Africa, René Basson joined me to share the important milestones and fascinating stories that defined this journey. In doing so, it became clear just how much has changed in South Africa to make investing accessible to everyone.

Join us as we look back on how Satrix made it possible for everyone to own the market.

This podcast was first published here.

Disclaimer:

Satrix Investments (Pty) Ltd & Satrix Managers (RF) (Pty) Ltd is an authorised financial services provider. The information does not constitute advice as contemplated in FAIS. Use or rely on this information at your own risk. Consult your Financial Adviser before making an investment decision. While every effort has been made to ensure the reasonableness and accuracy of the information contained in this document (“the information”), the FSP’s, its shareholders, subsidiaries, clients, agents, officers and employees do not make any representations or warranties regarding the accuracy or suitability of the information and shall not be held responsible and disclaims all liability for any loss, liability and damage whatsoever suffered as a result of or which may be attributable, directly or indirectly, to any use of or reliance upon the information. For more information, visit https://satrix.co.za/products

This has thankfully changed, with Cell C having created a profitable business model that goes well beyond the MVNO operations that the market tends to focus on.

In this podcast, CEO Jorge Mendes joined me to explain Cell C's business and how they plan to win across key verticals like Prepaid and Postpaid in addition to the exciting MVNO and other opportunities. We talked about why the turnaround is behind them and how Cell C plans to grow into the future.

As a separately listed company with a much simpler balance sheet, Cell C is on the radar of investors and worth understanding in more detail. This podcast is an excellent resource in your research process.

This podcast has been sponsored by Cell C. As always, I was given an opportunity to dig into the strategy and ask my own questions in my quest to learn more. You must always do your own research and speak to a financial advisor before making any decision to invest. This podcast should not be seen as an investment recommendation or an endorsement.

For example, it's so important not to learn the wrong lessons from a particular investment or observation. It's also important to avoid complexity for the sake of complexity - if there's a simple solution that works, then that's probably the right one. 

Along with insights related to investment term, diversification, the AI "bubble" (a term that Nico isn't a fan of), US hegemony, gold and REITs, there's just so much in here. Get ready to apply more discipline and less drama to your portfolio decisions, assisted by the depth of knowledge and experience shared by Nico on this podcast. 

This podcast was first published here.

Disclaimer:

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Whether following megatrends like defence spending and the further industrialisation of the German economy, or being open to opportunistic plays in business parks that offer attractive upside opportunities, Sirius is never too far away from a deal.

To understand more about the strategy of the fund and how they win in these markets, I was joined by a full house of CEO Andrew Coombs, CFO Chris Bowman and CIO Tariq Khader. Get ready to learn all about Sirius and the opportunities for this fund.

This podcast has been sponsored by Sirius Real Estate. As always, I was given an opportunity to dig into the strategy and ask my own questions in my quest to learn more. You must always do your own research and speak to a financial advisor before making any decision to invest. This podcast should not be seen as an investment recommendation or an endorsement.

Drawing on the benefits of DIY investing and financial planning leads to a best-of-both-worlds approach. You can have fun with investing and do so with the safety of guardrails provided by a proper financial plan. Kapil Joshi, Managing Director: Strategy and Proposition at Momentum Wealth, joined me on this podcast to talk about how these worlds should co-exist for investors who want to take a more active approach to their wealth creation.

Momentum Wealth is part of Momentum Investments and Momentum Group Limited. Momentum Wealth (Pty) Ltd is an authorised financial services provider (registration number 1995/008800/07, FSP number 657). Momentum Metropolitan Life Limited is an authorised financial services and credit provider
(registration number 1904/002186/06, FSP number 6406).

Dr Wiehann Olivier is passionate about the financial guardrails that need to be in place for digital asset adoption to increase. Having completed his PhD in topics related to the assurance needed in a blockchain context, Wiehann has become a subject matter expert within the global Forvis Mazars ecosystem.

On this podcast, he joined me to walk us through the evolution of cryptocurrency from the initial Bitcoin years through to the modern environment of stablecoins and widespread adoption by leading institutions.

You can connect with Wiehann on LinkedIn here.