Good morning Voornaam,
The latest news from MTN doesn't exactly look bad at first blush, but it's really important to consider the Ghana results in the context of inflation in that country. As Ghost Bites will explain this morning, doing business in Africa is risky and growth rates need to be very high just to stay ahead of inflation.
Before we get to that, you have a great opportunity to learn about many investment concepts in a single podcast. There's a brand new Ghost Stories episode featuring Nico Katzke of Satrix, with a wonderful twist that saw him grab the mic halfway through the show and start firing questions my way.
The result? A fantastic 50-minute long discussion on a wide variety of market and investment topics. This is so worth your time. You'll find it here>>>
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Read on to learn about my worries regarding MTN Ghana and other insights from the market. |
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BRAND NEW: Ghost Stories podcast with Nico Katzke of Satrix |
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| | Nico Katzke is no stranger to Ghost Stories listeners. There's always so much to learn from him about markets and investing. This time, you also get to enjoy him putting me through my paces in the second half of the show. |
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LATEST: Interview on CNBC Africa with Tania Habimana |
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| | Just before the Rugby World Cup final, I joined Tania Habimana on CNBC Africa for a great chat on the stocks that were relative winners from this world cup and the pitfalls of inferring too much from an event. |
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LATEST: Ghost Wrap podcast
(Santova | Spear REIT | Bytes Technology | Super Group | Clicks) |
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| | The latest Ghost Wrap podcast needs just a few minutes of your time to get you up to date on Santova, Spear REIT, Bytes Technology, Super Group and Clicks. Ghost Wrap is brought to you by Mazars. |
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LATEST: Magic Markets podcast |
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In Episode 148 of Magic Markets, we worked through the latest numbers and strategic news from Tesla and Netflix.
It's critical to remain objective when looking at these global tech giants, although it's still rather debatable whether Tesla is a tech company!
Thanks to B2IT, you can get our views on these two important companies. And remember: if you hate it, automate it with B2IT. |
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Lesaka Technologies joined the Unlock the Stock platform for the first time to talk about the recent financial performance and the strategy. You can watch the recording here, thanks to our partner A2X. |
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LATEST: The ETF revolution - views from Satrix |
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Kingsley Williams of Satrix gives us nine reasons why the boom in ETFs makes sense.
In my opinion, every investor should be using ETFs in a portfolio. This is why I'm always grateful to Satrix for their insights in Ghost Mail. |
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DAILY: TreasuryONE Market Update Of course, the focus yesterday was firmly on the MTBPS. On the Markets Update podcast with TreasuryONE, George Glynos of ETM Analytics gave a really useful summary that only needs a few minutes of your time. I highly recommend listening to it.
Unsurprisingly, the focus is on gross debt and the unsustainable trajectory, as well as the SOEs that continue to drain the fiscus. Tax hikes are expected in the February budget.
Despite the obvious problems in our fiscal strategy, local bond yields declined and the rand strengthened after the address. If nothing else, the budget at least dispels financial speculation, so that may have driven the bullish response that saw the rand trade below R18.60 by evening trade.
A quick ghostly note: I am travelling to Joburg this morning, so this update has been written before the Fed decision came out. Fed Chair Jerome Powell was expected to keep rates flat. By the time you read this, we will know if that's what happened. |
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| | Get the latest on Attacq, Europa Metals, Finbond, Jubilee Metals, MTN, Octodec and Sibanye-Stillwater, along with an interesting assortment of Little Bites to keep you up to date. It's all available with a single click in Ghost Bites. |
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I would treat the MTN rally with caution MTN closed 2.2% higher yesterday, which suggests that the market liked the MTN Ghana update. As I explain in Ghost Bites this morning, I would be very careful of a story that sees earnings growing below the rate of inflation. This means there is negative real growth in MTN Ghana, which isn't something you'll see many headlines pick up on.
Another notable story is Finbond, which is making capital allocation decisions that I like. After pulling out from the Trustco Namibia deal, the company announced that it is going ahead with the planned specific repurchase of a vast amount of shares from two major shareholders.
Investors in Sibanye-Stillwater should pay attention, as the mining house announced two deals. One is for a PGM asset in South Africa and the other relates to copper in Australia.
Also look out for the latest from Attacq, Europa Metals, Jubilee Metals and Octodec.
Get it all with a single click in Ghost Bites this morning.
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