Happy Wednesday! At this time of year, we celebrate every day of the week. At least we still know which day it is, unlike between Christmas and New Year when the very fabric of space and time is called into question.
'Tis the season to reap the rewards of good financial decisions. It's also the time of year when regret can easily creep in about things that you wish had been different, like that new car repayment that wasn't really necessary and now sits like an albatross around your neck. The good news is that we are all human and all do these things. The better news is that it's possible to learn from the mistakes and repeat the things that worked. To help you with money dysmorphia, René Basson of Satrix joined me on the latest Ghost Stories podcast to explain what this issue means and why it can apply to people regardless of their financial strength. Be sure to listen to it here>>>
In the final episode of Magic Markets for the year (other than for our paying subscribers), Mohammed Nalla and I looked back on the assets that really moved the dial this year. Gold, bitcoin, the US markets - they all feature. Of course, we also discussed regional highlights like South Africa and China, as well as the troubles in Europe. This is a perfect way to wrap the year>>>
In company news, Tyme Group (in which African Rainbow Capital has an important stake) is now valued at $1.5 billion after a Series D capital raise of $250 million. Aside from African Rainbow Capital putting some more money in, the group attracted investment from Nubank as leaders of the round with a $150 million investment. They certainly aren't playing games at Tyme, with an ambition to become a top three retail bank in South Africa! Watch this story closely.
In far less happy news, Metair got out of Turkey in the end with very little to show for it. The debts kept growing while the deal was being concluded, with the selling price for that business adjusted accordingly. At least they got out with something in the end, as we've seen other examples on the JSE recently of companies having to pay someone else to drag their mistakes away.
Other news includes power issues at Jubilee in Zambia, a drilling update at Orion, an acquisition of property by Sirius Real Estate in Germany and the finalisation of Transaction Capital's Road Cover disposal.
Get all the details on these stories and the various Nibbles (including the all-important director dealings) in Ghost Bites here>>>
For a lighter read and a reminder of just how crazy a year can be, Dominique Olivier tells the story of Haliey Welch - and yes, that's the correct spelling. Better known as Hawk Tuah Girl, Welch went from obscurity to immense fame literally overnight, with the latest controversy being allegations of crypto fraud. It's been quite the year for her, as explained here>>>
Have a great day!
