Sisa Ngebulana, the founder of Rebosis, SA’s most successful black-owned and managed property fund, says he has returned to put the company back in a position where it can acquire value-adding assets and compete with other retail funds. Ngebulana who was back at the helm after the sudden departure of his successor, Andile Mazwai, in April, said that Rebosis needed its shares to rerate before it could even consider buying new assets. He spoke at the release of financial results for the six months to February. Rebosis declared a total interim dividend of 63.23c per ordinary share, up 4% on the comparative half-year distribution per ordinary share results for the reporting period, in line with its forecast. This was, however, at the lower end of expectations and was barely above consumer price inflation, which was 3.8% in March. "It’s a tough market … but I’m happy with what we have achieved in this period. I am reiterating that our strategy is to be a retail-focused fund that provides...
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