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Good Morning Voornaam,

Ghost Bites:

Afrocentric has received a partial offer from Sanlam
Datatec's earnings are significantly lower, but there's a R12.50 special dividend
Tharisa has reported excellent production numbers to help offset commodity pricing decreases

For details on these stories and several other important updates, read Ghost Bites>>>

No, Afrocentric isn't delisting

When the news broke of an offer by Sanlam for Afrocentric, Twitter was abuzz with cries of "not another delisting!" and "the JSE will soon have nothing left" - thankfully, that's not what is happening here. Whilst there's no denying the recent trend of delistings, Afrocentric isn't one of them.

In an interesting deal structure, Sanlam first wants to sell its stake in an Afrocentric subsidiary to Afrocentric in exchange for shares. Sanlam then wants to make a partial offer that would take it to a controlling stake in Afrocentric. There's a lot of flexibility in exactly what that stake might be, with an absolute maximum of 74.9% being possible.

The idea here is to combine Afrocentric's product suite with Sanlam's distribution abilities. Going forward, the parties would look to co-develop new products.

If you're itching to learn more about partial offers and how the deal structure works, the answers are in Ghost Bites.

The perfect business model doesn't exist...does it?

Look, nothing is truly perfect. When it comes to ticking the boxes for what you want to see in a business though, Accenture is right up there.

In the latest report in Magic Markets Premium, we explained exactly why Accenture is so strong. We covered topics like:

The need for technology-driven consultants in the first place
The way Accenture entrenches itself in clients
How the company has managed to increase operating margins over time
The flexibility of the brand in moving into new product verticals

Of course, we also covered the technical trading indicators and fundamental analysis that makes Magic Markets Premium such a well-rounded product.

If you want to do your own research into stocks but you just don't know where to start, then a R99/month subscription to Magic Markets Premium is the best decision you could make. You can cancel anytime, so what do you have to lose? Subscribe here>>>

Get ready for fireworks

After a quiet period of trading, the market is ready for the FOMC minutes of the September meeting later today and the US inflation print tomorrow. The rand and euro were range bound yesterday as the m arket stayed out of trouble ahead of these critical data releases.

Commodities saw more action yesterday, with PGMs slightly down and Brent Crude off the week's high as Covid concerns sparked up again. Gold has been on the back foot since last week, changing hands below the $1,670 handle.

It's not too late to join today's TreasuryONE webinar but you better hurry! It takes place at 1pm today and looks set to be a brilliant overview of the macroeconomic conditions in which we find ourselves. Register for free here>>>

Are you a growth investor?

If you enjoy investing in the stocks that could change our world, then Episode 96 of Magic Markets is for you. Join Justine Brophy from AnBro Capital Investments as he talks about why he remains optimistic about the future. As always, there are great discussions on specific stocks as well. Listen to it here>>>

With that, I wish you a lovely Wednesday!

Ghost Bites (Afrocentric | Datatec | Tharisa)

Afrocentric receives a complicated offer from Sanlam. Datatec's earnings are significantly lower. Tharisa has reported higher production numbers.

Unlock the Stock: Growthpoint

As the stalwart of the property sector, Growthpoint is always of interest to investors. With so much opportunity in this space after the pandemic, this was an excellent edition of Unlock the Stock.

Schools haven't been A+ investments

There are three major education groups on the JSE. If your assumption is that these are steady investments, you are badly wrong. Learn more with the Ghost Grads.

Magic Markets Ep96: Looking to the Future

Justine Brophy from AnBro Capital Investments is feeling good about the future. It takes a cool head to be a successful investor and the team from AnBro certainly knows how to look through a crisis. Learn from them in this podcast.

Listen Now

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