Capital & M&A

Cap tables walked, deal mechanics named, who paid what — the Friday column and the weekday tracking that feeds it.

• Capital 15 May 2026

  Repatriation Friction Tracker: When ZAR/NAD Becomes the Slowest Part of the Deal

  The Common Monetary Area peg holds, but cross-border cash movement between Namibia and South Africa is slower, more expensive, and less predictable than the peg implies. A working account of where capital actually stalls.

• Capital 15 May 2026

  Rosh Pinah Zinc Restart: Who's In, What They Paid, and Whether the IRR Works at $1.25/lb

  The cap table on Namibia's largest zinc mine has changed hands through receivership and a contested recovery plan. We show the working on whether the numbers hold at current zinc prices — and where they don't.