The Report Card | Finance & Edu

School taught you theory. We give you the financial report card you actually need.

Follow along as we rewrite the curriculum ✍🏽

[The Report Card | Finance & Edu @ReportCardHQ]

BE AWARE 🚨

The day before you officially cease South African tax residency,

SARS will subject you to an “exit tax”.

It is a "fictional sale," triggering Capital Gains Tax on unrealized gains, even though no actual sale occurred and no cash was received. 🤯

[The Report Card | Finance & Edu @ReportCardHQ]

BE AWARE 🚨

The day before you officially cease South African tax residency,

SARS will subject you to an “exit tax”.

It is a "fictional sale," triggering Capital Gains Tax on unrealized gains, even though no actual sale occurred and no cash was received. 🤯

[David (TalkingCents) @talkcentss]

https://t.co/hplRHqKmtz

[The Report Card | Finance & Edu @ReportCardHQ]

What most people don’t know is that Naspers has a built in governance protection structure

🔸N shares (Listed)
🔹Unlisted A shares (Voting Rights)

Two South African entities together control more than 50% of the voting rights

🔹Keeromonstraat
🔹Naspers Beleggings (Nasbel)

[David (TalkingCents) @talkcentss]

𝗡𝗮𝘀𝗽𝗲𝗿𝘀 𝗕𝘂𝘆𝗯𝗮𝗰𝗸 𝗛𝗶𝘁𝘀 𝗥𝟮𝟮𝟳 𝗕𝗶𝗹𝗹𝗶𝗼𝗻

🔸Shares bought back = 𝟯𝟭𝟮.𝟰 𝗺𝗶𝗹𝗹𝗶𝗼𝗻
🔸Average price = 𝗥𝟳𝟮𝟴.𝟱𝟳
🔸Total = 𝗥𝟮𝟮𝟳.𝟲 𝗯𝗶𝗹𝗹𝗶𝗼𝗻 ($12.6 billion)
🔸Average FX rate: 𝗥𝟭𝟳.𝟵𝟴 𝗨𝗦𝗗/𝗭𝗔𝗥

Naspers has significantly reduced its share count through its strategic buyback initiative which started in September 2022. (+-𝟰 𝘆𝗲𝗮𝗿𝘀 𝗿𝘂𝗻𝗻𝗶𝗻𝗴).

In October 2025, Naspers implemented a 𝟱-𝗳𝗼𝗿-𝟭 𝘀𝗵𝗮𝗿𝗲 𝘀𝗽𝗹𝗶𝘁, which drastically increased their outstanding shares, however, that didn’t affect investors. 𝗥𝗲𝗮𝗱 𝗺𝗼𝗿𝗲 𝗶𝗻 𝘁𝗵𝗲 𝗮𝘁𝘁𝗮𝗰𝗵𝗲𝗱 𝗽𝗼𝘀𝘁.

Additionally,

the graph below is already split adjusted to account for the stock split that occurred,

It shows by how much Naspers has reduced their outstanding shares (N shares). 𝗥𝗼𝘂𝗴𝗵𝗹𝘆 𝟮𝟯.𝟰% 𝗼𝗳 𝘁𝗵𝗲𝗶𝗿 𝘀𝗵𝗮𝗿𝗲𝘀 𝗼𝘂𝘁𝘀𝘁𝗮𝗻𝗱𝗶𝗻𝗴 𝗵𝗮𝘀 𝗯𝗲𝗲𝗻 𝗯𝗼𝘂𝗴𝗵𝘁 𝗯𝗮𝗰𝗸 𝘀𝗶𝗻𝗰𝗲 𝗠𝗮𝗿𝗰𝗵 𝟮𝟬𝟮𝟯.

And about 40% since they started. 🤯

[The Report Card | Finance & Edu @ReportCardHQ]

The Mponeng Gold Mine in South Africa is so massive it has over 380km of tunnels,

Which is longer than the entire New York City Subway route system 🤯

[The Report Card | Finance & Edu @ReportCardHQ]

The Mponeng Gold Mine in South Africa is so massive it has over 380km of tunnels,

Which is longer than the entire New York City Subway route system 🤯

[David (TalkingCents) @talkcentss]

South Africa is 𝗵𝗼𝗺𝗲 𝘁𝗼 𝟴 𝗼𝗳 𝘁𝗵𝗲 𝟭𝟬 𝗱𝗲𝗲𝗽𝗲𝘀𝘁 𝗺𝗶𝗻𝗲𝘀 in the world:

🇿🇦Mponeng Gold = 𝟰𝗸𝗺
🇿🇦Tautona = 𝟯.𝟵𝗸𝗺
🇿🇦Savuka Gold = 𝟯.𝟳𝗸𝗺
🇿🇦East Rand = 𝟯.𝟱𝗸𝗺
🇿🇦Driefontein = 𝟯.𝟰𝗸𝗺

🇿🇦Kusasalethu = 𝟯.𝟯𝟴𝗸𝗺
🇺🇸Empire mine = 𝟯.𝟯𝟱𝗸𝗺
🇿🇦Kloof Mine = 𝟯.𝟯𝟰𝗸𝗺
🇮🇳Kolar Gold Mine = 𝟯.𝟮𝟭𝟳𝗸𝗺
🇿🇦Blyvooruitzicht = 𝟯.𝟮𝟭𝟯𝗸𝗺

[The Report Card | Finance & Edu @ReportCardHQ]

@cyclecapepoint Will do that at some point :)

[The Report Card | Finance & Edu @ReportCardHQ]

The South African Rand’s performance has gone one direction:

🇿🇦 2026 (YTD) = +1.91% 🟢

🇿🇦2025 = +13.90% 🟢
🇿🇦2024 = ( -2.65% ) 🔴

🇿🇦2023 = ( -𝟲.𝟵𝟱% ) 🔴
🇿🇦2024 = ( -𝟱.𝟴𝟴%) 🔴
🇿🇦2021= ( -𝟴.𝟭1% ) 🔴

🇿🇦2020= (-4.62% ) 🔴
🇿🇦2019= +2.63% 🟢
🇿🇦2018= ( -13.76% ) 🔴

[The Report Card | Finance & Edu @ReportCardHQ]

The South African Rand’s performance has gone one direction:

🇿🇦 2026 (YTD) = +1.91% 🟢

🇿🇦2025 = +13.90% 🟢
🇿🇦2024 = ( -2.65% ) 🔴

🇿🇦2023 = ( -𝟲.𝟵𝟱% ) 🔴
🇿🇦2024 = ( -𝟱.𝟴𝟴%) 🔴
🇿🇦2021= ( -𝟴.𝟭1% ) 🔴

🇿🇦2020= (-4.62% ) 🔴
🇿🇦2019= +2.63% 🟢
🇿🇦2018= ( -13.76% ) 🔴

[The Report Card | Finance & Edu @ReportCardHQ]

Mastercard is essentially a tax on global consumption. $MA

It is an asset-light business with low inventory exposure. And its fee-based revenue scales automatically with consumption and inflation.

This creates strong defensive margins

[The Report Card | Finance & Edu @ReportCardHQ]

Mastercard is essentially a tax on global consumption. $MA

It is an asset-light business with low inventory exposure. And its fee-based revenue scales automatically with consumption and inflation.

This creates strong defensive margins

[David (TalkingCents) @talkcentss]

Bitcoin's Annual Returns

💰Best year: +9,900% (2010)🟢
💰Worst year: -74.59% (2018) 🔴
💰Median: +-92%
💰Negative years: 4 of 17

🔴2025: -6.36%
🔴2026 YTD: -13.04%

Are you a buyer?

[David (TalkingCents) @talkcentss]

𝗧𝗵𝗲 𝗦𝗼𝘂𝘁𝗵 𝗔𝗳𝗿𝗶𝗰𝗮𝗻 𝗥𝗲𝘀𝗲𝗿𝘃𝗲 𝗕𝗮𝗻𝗸 is the oldest central bank in Africa, it was established on June 30th 1921.

It was because market participants were arbitraging Gold that the SARB came into existence.

𝗪𝗮𝘁𝗰𝗵 𝗵𝗲𝗿𝗲 🔻

[David (TalkingCents) @talkcentss]

For reference, to compare:

South Africa’s Stock Exchange -JSE- has a market cap of around $1.5 trillion, which is roughly R24 trillion.

It’s more than double South East Asia’s largest stock market, and bigger than Singapore and Indonesia combined. 😁

[David (TalkingCents) @talkcentss]

𝗢𝗡𝗘 𝗖𝗢𝗠𝗣𝗔𝗡𝗬. 𝗕𝗘𝗔𝗧𝗦 𝗔𝗡 𝗘𝗡𝗧𝗜𝗥𝗘 𝗠𝗔𝗥𝗞𝗘𝗧

South Africa's TOP40 largest listed companies are worth a combined $1.38 trillion, and NVIDIA is worth nearly 4x more than that.

𝗡𝗩𝗜𝗗𝗜𝗔 = $𝟱.𝟮𝟬 𝘁𝗿𝗶𝗹𝗹𝗶𝗼𝗻

Think about that 🤯

[David (TalkingCents) @talkcentss]

𝗠𝗮𝗿𝗸𝗲𝘁 𝗖𝗮𝗽 ≠ 𝗟𝗶𝗾𝘂𝗶𝗱 𝗰𝗮𝘀𝗵

Market capitalization is often mistaken for cash, but it doesn’t mean that amount of money is readily available.

𝗟𝗲𝘁 𝗺𝗲 𝗲𝘅𝗽𝗹𝗮𝗶𝗻 ✍🏼

[David (TalkingCents) @talkcentss]

𝗘𝘀𝗸𝗼𝗺 is reducing their investment into new generation capacity because it 𝗶𝘀 𝗯𝗲𝗰𝗼𝗺𝗶𝗻𝗴 𝗮 𝘁𝗼𝗹𝗹𝘄𝗮𝘆 instead.

They are charging users a fee to access their network, so that users can distribute their electricity without needing to invest in transmission infrastructure.

𝗟𝗲𝘁 𝗺𝗲 𝗲𝘅𝗽𝗹𝗮𝗶𝗻 🔻

[David (TalkingCents) @talkcentss]

I started converting some of my Rands into stablecoins, such as the USDT and USDC.

𝗧𝗵𝗲𝘀𝗲 𝘀𝘁𝗮𝗯𝗹𝗲𝗰𝗼𝗶𝗻𝘀 𝗮𝗿𝗲 𝗽𝗲𝗴𝗴𝗲𝗱 𝟭:𝟭 𝘁𝗼 𝘁𝗵𝗲 𝗨𝗦 𝗗𝗼𝗹𝗹𝗮𝗿.

My money is now sitting in dollars, shielding me from any ZAR depreciation. The stablecoin optionality eliminates the volatility that comes with other cryptos, and allows me to essentially hold dollars that I can still spend locally.

✅I get dollar-protected savings.
✅I get the convenience of tap-to-pay.
✅The merchant gets Rands.

[David (TalkingCents) @talkcentss]

𝗠𝗼𝘀𝘁 𝗯𝗼𝗿𝗿𝗼𝘄𝗲𝗿𝘀 𝗮𝗿𝗲 𝗳𝗮𝗺𝗶𝗹𝗶𝗮𝗿 𝘄𝗶𝘁𝗵 𝘁𝗵𝗲 𝗣𝗿𝗶𝗺𝗲 𝗟𝗲𝗻𝗱𝗶𝗻𝗴 𝗥𝗮𝘁𝗲 (𝗣𝗟𝗥). Because;

This is normally how home loans are priced in South Africa.

𝗕𝘂𝘁 𝗶𝘁 𝗺𝗮𝘆 𝗮𝗹𝗹 𝗯𝗲 𝗰𝗵𝗮𝗻𝗴𝗶𝗻𝗴 𝘀𝗼𝗼𝗻 🔻

[David (TalkingCents) @talkcentss]

𝗜𝗻𝘁𝗲𝗿𝗲𝘀𝘁 𝗥𝗮𝘁𝗲 𝗗𝗲𝗰𝗶𝘀𝗶𝗼𝗻𝘀 🇿🇦

The SARB’s Monetary Policy Committee (MPC) will meet 𝗧𝗛𝗥𝗘𝗘 more times in 2026.

𝗕𝗼𝗼𝗸𝗺𝗮𝗿𝗸 𝘁𝗵𝗲𝘀𝗲 𝗱𝗮𝘁𝗲𝘀 🔻

🇿🇦 2̶9̶t̶h̶ ̶J̶a̶n̶u̶a̶r̶y̶ ( Unchanged ) ✅
🇿🇦 2̶6̶t̶h̶ ̶M̶a̶r̶c̶h̶ ( Unchanged ) ✅
🇿🇦 2̶8̶t̶h̶ ̶M̶a̶y̶ ( Hiked 0.25% ) ✅

🗓️ 23rd July
🗓️ 23rd September
🗓️ 19th November

——-
𝗪𝗵𝗮𝘁’𝘀 𝗲𝘅𝗽𝗲𝗰𝘁𝗲𝗱:

The market is pricing in an additional 0.25% hike, 𝘄𝗵𝗶𝗰𝗵 𝘄𝗼𝘂𝗹𝗱 𝘁𝗮𝗸𝗲 𝘁𝗵𝗲 𝗽𝗿𝗶𝗺𝗲 𝗿𝗮𝘁𝗲 𝗮𝗻𝗱 𝘁𝗵𝗲 𝗿𝗲𝗽𝗼 𝗿𝗮𝘁𝗲 𝘁𝗼 𝟭𝟬.𝟳𝟱% 𝗮𝗻𝗱 𝟳.𝟮𝟱%, 𝗿𝗲𝘀𝗽𝗲𝗰𝘁𝗶𝘃𝗲𝗹𝘆.

[David (TalkingCents) @talkcentss]

𝗣𝗜𝗖 𝘃𝘀 𝗘𝗹𝗼𝗻 𝗠𝘂𝘀𝗸

🔸Public Investment Corporation’s
Assets Under Management

+𝗥𝟯.𝟬 𝘁𝗿𝗶𝗹𝗹𝗶𝗼𝗻
——————

🔸Elon Musk’s Networth

+𝗥𝟭𝟲.𝟯𝟬 𝘁𝗿𝗶𝗹𝗹𝗶𝗼𝗻