Wednesday, July 8, 2026

The Finance Ghost

Ghost Stories #108: Due diligence decoded – inside the modern deal risk process

Due diligence is often described as "doing your own research" before an acquisition, but the reality is far more complex. In this episode of Ghost Stories, The Finance Ghost is joined by Althea Soobyah, Bongiwe Mbunge and Johan Marais from Forvis Mazars to unpack what a modern due diligence process really looks like. This episode offers valuable insights into what happens after the letter of intent is signed and the real work begins.

Ghost Bites (Bytes Technology | Hyprop)

Hyprop is tapping the market for R500 million in fresh equity capital. VCP now has a stake of over 5% in Bytes Technology.

UNLOCK THE STOCK: Calgro M3

In the 72nd edition of Unlock the Stock, Calgro M3 (a regular on Unlock the Stock) joined us to discuss the recent financial performance and prospects of the group.

Ghost Bites (Bank ratings upgrades | Mantengu | MAS | Oando)

Several SA banks have enjoyed a ratings upgrade from Fitch. A new bidder has emerged for Mantengu's Blue Ridge Platinum. PKMI's bid for MAS shares ended in a puff of smoke and not much else. Oando is a vertically integrated energy company that nobody talks about.

Ghost Bites (Lesaka Technologies | Spear REIT)

Lesaka Technologies wants to sweeten the deal for the executive chairman in the form of new share options. Spear REIT has met all conditions for the acquisition of Watergate Centre.

A drag queen, a panda and the King (of rock ‘n’ roll)

Elvis, Lady Gaga and a nature-loving drag queen have all found themselves on the wrong end of a trademark fight. Some of them won, some of them lost, but only one of them got offered free ice-cream as compensation. Dominique Olivier brings us the more entertaining side of the law.

Ghost Bites (Hudaco | Optasia | Supermarket Income REIT)

Hudaco's consumer-related products segment boosted the interim period. There are signs of life at Optasia, but I'm waiting for detailed results. Supermarket Income REIT has refinanced £445 million in debt.

Who’s doing what this week in the South African M&A space?

Weekly summary of Merger & Acquisition activity by South African companies.

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