Assets & Investments

In a tough economic environment where capital is scarce, we continue to back responsible entrepreneurs who build sustainable, high-impact businesses that create opportunity and resilience in South Africa. We have released our 2025 Impact Report. The report outlines the organisation's work in backing responsible entrepreneurs, supporting portfolio resilience and contributing to economic inclusion through a long-term investment model.

If you're eager to get into the stock market because you've heard it's a fast track to wealth, think again. The reality is that most individual stocks result in losses over the long term. This finding emerged in a recent article by Hendrik Bessembinder, which analysed the investment outcomes of 29,754 common stocks listed on the US public markets from 1926 to 2025.

Preparing your children for wealth starts long before an actual inheritance. You need to prepare them to manage it with responsibility and perspective. As financial advisers, we spend a great deal of time helping people build and preserve wealth. I have worked with numerous clients who have spent decades building businesses from scratch and managing investment portfolios.

FY26 marked a year of delivery, with strong results, disciplined capital allocation and accelerating Artificial Intelligence (AI) innovation. Prosus delivered across its AI-powered Lifestyle Ecosystem of delivery, finance and experiences, while all regional ecosystems achieved profitability.

FY26 was a year of delivery: strong results, disciplined capital allocation and accelerating Artificial Intelligence (AI) innovation. Naspers delivered across its AI-powered Lifestyle Ecosystem of delivery, finance and experiences, with all regional ecosystems profitable.

When two architects design the same house independently, they do not create a stronger house. Instead, they create misaligned foundations. Every now and then, a client tells me they use two financial advisers. The explanation is almost always the same. They value a variety of opinions and feel more comfortable knowing multiple professionals oversee their wealth.

The five-year lock-in period on South Africa's Section 12J hospitality investments is over. Across the country, investors who entered these vehicles for the generous upfront tax deduction are now facing a far more sobering reality. Hospitality investors face distressed assets, a near-absent secondary market and a Capital Gains Tax (CGT) liability that is calculated not on their actual return, but on every Rand they receive at exit.

“I am from a poor family, somewhere in Africa”. Many Africans recognise themselves in this story. Success rarely belongs to one individual. It often emerges as a collective achievement. Someone sacrificed school fees, someone shared food and someone walked beside you through hardship. Grandparents became parents. Aunts became mothers. Older siblings became providers. Communities invested in one child because they hoped everyone would eventually rise. Consequently, success carries expectations.

Investors often turn to alternative investments. They seek something that listed markets cannot always provide. For instance, they want a different return profile. They also want less exposure to daily market sentiment. In addition, they want better portfolio risk management when conditions become more volatile.

I write this from London on the eve of England’s first game at the FIFA World Cup. Before a ball is kicked, the airwaves already fill with debate. Has Thomas Tuchel made a mistake by leaving out star names such as Cole Palmer, Phil Foden and Trent Alexander-Arnold? While some people call for a public inquiry, I can understand Tuchel’s choices as an investment manager.