Sisa Ngebulana retired as Rebosis CEO and stepped down from the board on 1 December. He leaves the company in much better shape than it was a few months ago.
After announcing that it will dispose of its portfolio of office assets worth R6.3-billion, the board of directors of Rebosis Property Fund said Sisa Ngebulana – Founder and Chief Executive Officer, is retiring. The disposal of assets will bring down the company loan-to-value (LTV) level and optimise its balance sheet to real estate investment trust standards, closing the curtain for Ngebulana’s three year stint since the board brought him to stabilise the company.
JSE-listed Rebosis Property Fund’s A and B shares leapt on Friday after it said it had entered into a sales deal with Ulricraft, a special purpose vehicle (SPV) owned by Vunani Capital Partners (VCP), which could see the debt heavy firm dispose of its commercial office portfolio for R6.32 billion.
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Lefakane co-founded the Youth in Property Association to help drive transformation in SAâs broader property industry. 00:01
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SUREN NAIDOO: With June being Youth Month, in this episode we are speaking to Monedi Lefakane, the co-founder and current chairperson of the Youth in Property Association. The organisation, or Yipa, as it is also called, promotes youth entering South Africa’s property sector. It’s quite a youthful body, being only a few years old and run virtually entirely by young people. One of them is Monedi Lefakane.
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