Redefine, a JSE-listed Real Estate Investment Trust (REIT), joined forces with Dijalo Property Services in 2006 to establish the Dipula Income Fund - a small-cap REIT. The name holds symbolic meaning as Dijalo translates to ‘seeds’ and Dipula to ‘rain’ - embodying the vision of this venture. With a deep commitment to property investment in South Africa, Dipula has achieved notable growth for its shareholders. We explore their local portfolio, focusing on opportunities within convenience retail centres across urban, rural and township areas.

MTN’s share price has been very weak over the last year. While many of its markets face economic challenges, the main driver of market pessimism has been the adverse effects of a significantly weaker naira exchange rate on the group’s earnings. Despite these near-term challenges, MTN’s long-term fundamentals and growth outlook remains strong.

More than a century ago, Santam established the South African National Life Assurance company (Sanlam) in response to the growing demand for life insurance among its customers. By 1954, Sanlam had grown substantially, and they acquired a controlling stake in Santam. Since demutualising and listing on the JSE Securities Exchange in 1998, Sanlam has developed into a diversified financial services company and one of the largest insurance companies in Africa. We explore their operations and their recent corporate actions that are expected to further strengthen their market position.

Named after its founders, John Wardle and David Makin, John David Sports opened its first store near Manchester in 1981. Now trading as JD Sports, it has grown from humble beginnings into one of the world’s largest sportswear retailers. We unpack its history and set out how it is positioned to benefit from strong global demand for sportswear products into the future, providing high economic returns for its shareholders.