Debt has never been simple, but the shift from JIBAR to ZARONIA has added a whole new layer of complexity.

In this episode of Ghost Stories, The Finance Ghost is joined by Ian Norden of Intengo Market to unpack what South Africa's new benchmark rate means for borrowers, lenders and treasury teams, and why debt management is becoming increasingly data-intensive.

From covenant tracking and hedging strategies to AI-powered administration and access to capital markets, the discussion explores the real-world challenges facing CFOs and treasurers. Ian explains how Intengo is helping companies move beyond spreadsheets, improve governance and unlock funding opportunities in a rapidly evolving debt landscape.

In this episode, we cover:

• Why the transition from JIBAR to ZARONIA is changing the way debt is managed
• The hidden operational risks that come with growing debt portfolios
• How poor administration can affect lender relationships and funding outcomes
• The role of AI in treasury management, covenant tracking and debt reporting
• How Intengo helps corporates access funding while reducing complexity and manual effort

Ready to learn more? Visit the Intengo Market website here and connect with Ian on LinkedIn here.

Burstone has evolved from a traditional property company into something very different. Instead of relying on shareholders to fund growth, the company is increasingly using institutional partners and private capital to scale its platform.

But can that model deliver the returns that investors are looking for?

In this episode of Ghost Stories, Andrew Wooler (CEO of Burstone Group) joins The Finance Ghost to unpack the thinking behind the strategy.

This includes details on the launch of the Core Plus platform in South Africa with Nedbank Property Partners, as well as a reflection on the Blackstone journey in Europe.

Along with more technical concepts like first-loss exposure and the ring-fencing of debt, this podcast offers a great insight into how Burstone uses "Other People's Money" to drive returns.

In this episode, we cover:

• Why Burstone moved away from the traditional REIT growth model
• The logic behind the Nedbank Property Partners Core Plus platform
• What went wrong, and what was learned, from the Blackstone partnership
• First-loss exposure, ring-fenced debt and look-through gearing explained
• Whether Burstone's platform strategy can ultimately drive stronger returns for shareholders

This podcast has been sponsored by Burstone, but The Finance Ghost was allowed to ask whichever questions he felt were most pertinent for an investor audience. Please always do your own research and do not treat this as an endorsement of the stock.

• (00:00:00) - Intro
• (00:01:48) - How Burstone evolved from Investec Property Fund
• (00:05:35) - The platform strategy: using partner capital to grow
• (00:10:03) - Private capital vs. public markets
• (00:12:15) - The Core Plus platform in SA explained
• (00:17:54) - What happened in Europe with Blackstone?
• (00:22:14) - First-loss exposure explained
• (00:24:11) - Ring-fenced debt, recourse and the loan-to-value ratios
• (00:28:39) - Burstone’s outlook and long-term strategy

Changing auditors is not something most CFOs do often, but when the moment arrives, the decision can have far-reaching implications for governance, stakeholder confidence and the effectiveness of the audit process.

In this episode of Ghost Stories, The Finance Ghost is joined by Yolandie Ferreira, Head of Africa for Forvis Mazars Africa, to explore what companies should consider when appointing a new auditor and why the process is about much more than compliance.

From audit quality and industry expertise to AI, auditor independence and sustainability assurance, the discussion unpacks the factors that separate a routine audit from a truly valuable audit relationship. Whether you're preparing for an auditor transition or simply want a better understanding of how modern auditing creates trust and accountability, this episode offers practical insights from the front lines of the profession.

In this episode, we cover:

• Why companies change auditors and how CFOs should approach the transition
• Common misconceptions about auditing, fraud detection and audit quality
• The role of industry expertise, geographic reach and auditor relationships
• How AI is changing audit processes while leaving human judgment at the centre
• Why sustainability assurance is becoming increasingly important for businesses and stakeholders