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Duma Mxenge (Head of Business and Market Development at Satrix) joined me right at the start of the year to talk about some of the things we would be looking out for in the markets this year. With the benefit of hindsight, we could now dig into some of our winners, overall surprises and missed opportunities in 2025. We also took the opportunity to talk about the nuances for entrepreneurs when it comes to personal financial management.

WeBuyCars is an excellent example of a disruptor in the South African market, having completely changed the way people buy and especially sell their vehicles. As a sign of just how valuable the data and technology systems are, WeBuyCars has announced that Chief Digital Officer Wynand Beukes will also take the role of Deputy CEO as part of succession planning at the group. CEO Faan van der Walt isn't going anywhere just yet though - he still has plenty of energy to give the group. Both Faan and Wynand joined me to discuss the business and the road ahead.

Momentum goes from strength to strength. Southern Sun has great occupancy, but cost pressures are evident, Life Healthcare is complex, but growing. NEPI Rockcastle and Burstone are doing all kinds of exciting things, yet earnings growth is relatively tame. RFG Holdings was dragged down by the International segment.

Coronation is enjoying double-digit growth, while Old Mutual is finding it hard to achieve a meaningful uplift in its business at the moment. Telkom is pushing the data story and with great success. Reinet is sitting on a pile of cash that is expected to get much bigger.

With the August / September earnings season behind us, it's helpful to look at share price moves over the past 30 days on the JSE to see how sentiment has shifted. The PGMs have driven the Top40 higher, while insurance has taken a breather.

At the halfway mark in 2025, we've lived through some huge geopolitical shifts. The world's gaze has shifted beyond just the US market. Many investors choose to stick with what they know in times like these. This means homegrown favourites on the JSE. But which stocks have been the big winners thus far this year, and what do they have in common?