News

By Tshepo Magagane Mining v Tech – And yet for the same cashflows ie Nvidia v BHP; the market will only pay a 6% for BHP v Nvidia (5.4trn v 323bn). Which makes me even more convinced that mining stocks should not be listed (and they should not be issuing equity if listed). And that […]

By Tshepo Magagane Here is one bad thing that could happen. A company raises money by issuing bonds. It wants to sell, say, $1 billon of bonds. In the bond offering, it tells investors that it has earnings of $300 million per year. Investors read the prospectus and think “ah, this company makes plenty of […]

By Tshepo Magagane Air-conditioning units – manufacturers are putting Copper sticker on top to show that this one uses Copper… …because, with Copper it lasts 50yrs instead of 5yrs with aluminium! 2% of market lost to aluminium! Palladium used to be honestly a rounding thing when doing PGM companies – price would be c20% of […]

Written By Tshepo Magagane US hits USD40trn debt level. The world cannot turn off the money printing press – simply cannot; otherwise the whole thing falls apart. You need to be in REAL ASSETS. This thesis we had post GFC: The aim of QE2 is supposedly to boost the economy by lowering the cost of capital […]

By Tshepo Magagane When we started 1. We were buying every asset around for the Mittal – state owned assets people would pay you to take them off your hands (from Ukraine to SA to Canada to France) 2. See Kumba – it was spun out of Iskor (the steel co in SA) for just […]

I imagine life becomes a complex maze to navigate for a man who has to return to Zambia after his life and work in the diaspora have been abruptly cut short. This can be anyone from a diplomat recalled by the government, a man whose contract has not been renewed, deported or forced out like […]

The Zambian man spends a month stretching his income across 30-plus days. Those final days of the month when your money is a game of calculus will hit the best of us. Injury week is when one careless expense can be disastrous. Fuel or food? Lunch or transport money. Injury week hides a lesson for […]

Ceaser Siwale – Executive Chairman: Pangaea Holdings On Thursday, Zambians go to the polls. But for those of us in the capital markets, the more interesting manifesto isn’t from any party, it’s the one the Chamber of Mines published in election week: stronger exploration incentives, support for mineral processing and value addition, expanded power generation, […]

Tshepo Magagane – Executive How is this even possible? No foreigner is going to change this… …it is up to the Congolese! To show you how evil the whole system is – not even a single company is volunteering to pick up the cost for this… …why you need the right systems – indigenous led […]

Have you ever noticed how one of or a few of the guys you know are just … different? From childhood all the way to date, there’s always been something sneaky or uncertain about them. It starts early in your friendship but becomes more pronounced as life begins to happen.  You know your circle by […]

There will be food for mourners at your funeral if you died of hunger. Just as money will be found to buy your casket if you die without anything in your account or mobile money. I didn’t make the rules. I’m only a messenger. This is what befalls the black Zambian man in his communities. […]

By Tshepo Magagane – Resources Partner That was from ex-Aussie PM, Rudd, said the above. China has a multi-decade and myopic focus. Everyone is going Rare Earths but China started getting the competitive advantage in the 90s – not 10yrs ago, it is an entire ecosystem… …and why did they steal a march on the […]

https://www.miningweekly.com/article/steenkampskraal-mintek-achieve-breakthrough-in-rare-earth-beneficiation-2026-06-24 Written By Tshepo Magagane NB: well done Bafana-Bafana – I will be honest, I did not see this one coming especially against Korea (ratings upgrade & path to investment grade and now first time in knock-out stages👏🏼👏🏼👏🏼)! Time to have that HOPE & OPTMISM & BRAVERY & VISION from the 80/90s when the likes […]

Tshepo Magagane – Resources Director Why I wrote over a decade back about Copper – before Electrification, Data, Defense; just as countries go up the income scale, how much Copper will they use. The case for Copper already stacked up. And when you bring in lower grades, higher opex, no new MRE projects, problems with […]

As Kai Havertz wheeled away to score the first goal in the 2026 Champion’s League Final, some sports trivia was waiting to be written. He had previously scored for Chelsea to win the same trophy in 2021. It would be that Havertz has never lost a final where he scored a goal. But as all […]

When was the last time you were congratulated by your friends? As in, heartfelt encouragement for something you achieved. Forget about hearing it from their partners or children – men almost never hear a genuine word of congratulations because most times, men’s best wishes to each other are hidden in jokes and banter. You can […]

We’re all doing this for the first time. President Hakainde Hichilema, like the six men before him, had no experience being the final boss. Even the man dancing at a reception for his third marriage is doing it for the first time with that woman. And one thing about life? It shows when you think […]

Have you ever noticed how one of or a few of the guys you know are just … different? From childhood all the way to date, there’s always been something sneaky or uncertain about them. It starts early in your friendship but becomes more pronounced as life begins to happen.  You know your circle by […]

Savior Mwambwa Africa’s Green Finance Agenda | IFI & MDB Reform | Sovereign Wealth Funds, Tax Justice & DRM | Programme Manager, Open Society Foundations | 23-Country Track Record- Global | Pan- Africa | Zambia | New York The President signed NAB 68 of 2026 into law on 4 June. It repeals and rewrites the […]

Savior Mwambwa Africa’s Green Finance Agenda | IFI & MDB Reform | Sovereign Wealth Funds, Tax Justice & DRM There is a debate happening right now in Zambia, loudly, on social media and at campaign rallies, about the meaning of foreign exchange reserves. It has in many ways, become the central argument of the 2026 […]

A man who picks out the right clothes for an occasion, drives carefully on the road, speaks eloquently and can cook a decent meal? He’s usually celebrated as a catch. But when he budgets and plans for his money, it’s always a different story.  You could be one of the most handsome men in the […]

Every man can pretend it doesn’t affect him or that he’s already experiencing it. But there comes a time, without good fortune for some in their early forties, where a man simply has to look at how nothing seems to move naturally unless he plays with it.  Life does become mundane. Repetitive. Work, home, church. […]

Royal Bafokeng’s secret sauce was converting Royalties into Equity By Tshepo Magagane At the very base, Equity gives you: 1. Strategic Input 2. Operational Influence 3. Most importantly CURRENCY – which enables the ability to transact 4. When it comes to the argument that NI can be manipulated by companies; that is the role of […]

Chabala Sunkutu Investment Banking Associate | Transaction Analysis, Valuations & Capital Markets Everyone is talking about how artificial intelligence is transforming investment banking. And they’re right, it is. But the conversation keeps missing the most important point. The biggest value an investment banker brings to a deal isn’t financial modeling. It isn’t combing through thousands […]

By Tshepo Magagane To be honest, at the time, I was still a Bulks guy – it was easier to get the driver right quickly when looking at distressed assets! The 2010s were not great for Copper stocks, but that is when you needed to be positioning. The second-best time is right now. And look […]

By Tshepo Magagane This could be a good test to see how much Copper value-addition is done in Africa!Remember that currently it is cheaper to bring end-copper products through Durban port from China than it is to bring them from Zambia – something has to change. 1. 14,500km of Transmission lines – will require about […]

By Tshepo Magagane US 12bn stockpiles – I believe in these 2 statements when it comes to the US – and remember stockpiles are just that, they do not replace yearly production! 1. It can displace China – just given the depth and variety of capital BY INCREASING THE STANDARDS OF OPERATIONS 2. It needs to […]

Reflections on KK Day – Tuesday 28 April 2026 By Savior Mwambwa Today, Tuesday, 28th April, is Kenneth Kaunda (KK) Day. KK Day is a Zambian holiday in form, but in substance, it belongs to all of Africa and to the wider Global South. Kenneth Kaunda was a founding architect of the Frontline States, a […]

….to protect the mines. By Tshepo Magagane A pantomime of the leopold-era for SNL. Sierra Leone first lady put it best “for every USD100m of minerals that leave the country, we get USD10,000”! Protecting the Congolese Minerals from the Congolese who own  them. The DRC can never have peace until the Congolese have peace. This […]

Africa’s supply chain crisis is not about oil. It is about what sits beneath it. By Ceaser Siwale Everyone is watching Crude. The downstream has already moved past it. Sulphuric acid is not a commodity most people track. It should be. It underpins phosphate fertiliser, copper cathode production, cobalt processing, and a chain of industrial inputs […]