Investec Property Fund (IPF) has invested in and helped to launch Izandla Property Fund, a broad-based black economic empowered (BBBEE) group. Investec Property Fund is Izandla’s capital partner and Investec Property will help to manage the company. Izandla’s founders want the company to grow to be a separately listed entity that can compete with other listed property groups within a few years. This is the first time the Investec stable of companies has launched a BBBEE real estate group. While various property groups and listed real estate investment trusts have black professionals in their management and representation on boards, only a handful of blacks have launched their own property companies. Much of the talent has come from the financial services sector. Izandla’s majority shareholder is the Entrepreneurship Development Trust (EDT), a broad-based charitable trust. EDT will own 65% of Izandla and IPF will own 35%. Izandla’s board will include Sthembile Nkabinde, who founded K...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.