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 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 not financial advice.

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 explain what matters: cashflow, EBITDA, asset sales, and strategic pivot.The Money Maze helps South African retail investors stopdrowning in jargon and start navigating the market like someone who knows whatthey’re doing. This is not financial advice.

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 language.The Money Maze helps South African retail investors stopdrowning in jargon and start navigating the market like someone who actually knows what they’re doing. This is not financial advice.

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 Money Maze helps South African retail investors stopdrowning in jargon and start navigating the market like someone who actually knows what they’re doing. This is not financial advice.

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.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 not financial advice.

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 languageWhy hedge length matters more than share salesHow the Discovery admin billing error was resolvedWhy social media narratives form before the factsWhat retail investors should actually pay attention toBraai-side explanations, real market behaviour, and a reminder that vibes are not an investment strategy.The Money Maze, helping South African retail investors make sense of the market. This is not financial advice. Do your own research.

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 drowning in jargon and start navigating the market like someone who actually knows what they’re doing. This is not financial advice.

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 the real cost of coffee.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 not financial advice.

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 retail investors stop drowning in jargon and start navigating the market like someone who actually knows what they’re doing. This is not financial advice.

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 start navigating the market like someone who actually knows what they’re doing. This is not financial advice.

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 called a stealth tax, and what it means for your long-term savings.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 not financial advice.

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 retail investors should watch going forward.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 not financial advice.

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.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 not financial advice.

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 investors stop drowning in jargon and start navigating the market like someone who actually knows what they’re doing. This is not financial advice.

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 jargon and start navigating the market like someone who actually knows what they’re doing. This is not financial advice.

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 investors stop drowning in jargon and start navigating markets like someone who actually knows what they’re doing. This is not financial advice.

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 impact on share prices, delistings, and your portfolio.The Money Maze helps South African retail investors stop drowning in jargon and start navigating the market like someone who actually knows what they are doing. This is not financial advice.

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 South African retail investors stop drowning in jargon and start navigating the market like someone who actually knows what they’re doing. This is not financial advice.

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 African retail investors stop drowning in jargon and start navigating the market like someone who actually knows what they’re doing. This is not financial advice.

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 African retail investors stop drowning in jargon and start navigating the market like someone who actually knows what they’re doing. This is not financial advice.

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 all means for South African retail investors.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 not financial advice.

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 African retail investors stop drowning in jargon and start navigating the market like someone who actually knows what they’re doing. This is not financial advice.

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 navigating the market like someone who actually knows what they’re doing. This is not financial advice.

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 not financial advice.

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 in jargon and start navigating the market like someone who actually knows what they’re doing. This is not financial advice.

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 actually knows what they’re doing. This is not financial advice.

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 someone who actually knows what they’re doing. This is not financial advice.

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 someone who actually knows what they’re doing. This is not financial advice.

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 and start navigating the market like someone who actually knows what they’re doing. This is not financial advice.

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. This is not financial advice.

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 jargon and start navigating the market like someone who actually knows what they’re doing. This is not financial advice.

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 someone who actually knows what they’re doing. This is not financial advice.

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 patchwork.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 not financial advice.

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 English, and no accountant-speak.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 not financial advice.

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 drowning in jargon and start navigating the market like someone who actually knows what they’re doing. This is not financial advice.

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 start navigating the market like someone who actually knows what they’re doing. This is not financial advice.

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 South African retail investors stop drowning in jargon and start navigating the market like someone who actually knows what they’re doing. This is not financial advice.

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 breakdowns of big numbers.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 not financial advice.

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 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 not financial advice.

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 market like someone who actually knows what they’re doing. This is not financial advice.

Should you invest for regular payouts or long-term price growth? In this episode, we unpack the pros and cons of dividends and capital gains for South African investors. We break down tax differences, reinvestment strategies, and how to balance both for different life stages. Whether you're chasing income, growth, or both, this one's for you.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 not financial advice.

We break down the latest full-year results from The Foschini Group (TFG), one of South Africa’s biggest listed retail companies. With gross profit hitting R28.8 billion, online sales now 12 percent, and the Bash platform turning profitable two years early, this JSE-listed stock is looking strong. But with Australia underperforming and forex risks lurking, is TFG a reliable dividend stock or just another seasonal high? This Maze Dive episode unpacks the numbers, the risks, and what it all means for South African retail investors.

Are blue chip shares really safe? Is growth better than value? And what’s this CAGR thing that makes your R10,000 grow like magic? This episode breaks down the long-term thinking investors need to build real wealth.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 not financial advice.

Are you holding shares that crash harder than Eskom’s grid, or ones that cruise through chaos? This episode explains beta, volatility, and the difference between defensive and cyclical stocks so you can manage your risk.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 not financial advice.

Telkom’s back with a dividend after four years, headline earnings up 62%, and R1.3 billion headed to shareholders. But with fibre, mobile and BCX in the mix, is this a real comeback or just a good signal?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 not financial advice.

Are ETFs really cheaper than unit trusts? What’s NAV, and how do fees like TER eat your returns? This episode breaks down the costs of passive investing so you know what’s cheap, and what’s just cheap talk.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 not financial advice.

High volume doesn’t always mean easy selling, and the bid/ask spread can quietly rob you. In this episode, we unpack liquidity in plain English and explain why trading a ‘hot stock’ can still leave you stuck.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 not financial advice.

Spear REIT now holds R5.5 billion in Western Cape property, with solar-powered assets and solid dividends. No malls, no hype, just steady rental income across Paarl, George and Blackheath. But is that enough?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 not financial advice.

Think buying before the ex-dividend date guarantees a payout? Not quite. This episode breaks down how dividend payout ratios work, what total return really means, and why timing matters when chasing that passive income.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 not financial advice.

The PEG ratio, NAV and book value per share help you figure out if you’re paying champagne prices for boxed wine. This episode breaks down how to value stocks properly, even if you hated maths at school.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 not financial advice.