Rebosis strategy focuses on local assets
New CEO Andile Mazwai wants to increase investments in Port Elizabeth and Centurion precincts
Rebosis Property Fund’s new CEO, Andile Mazwai, has ambitions to increase its investments in Port Elizabeth’s Baywest City and Centurion’s Forest Hill, but market commentators say he will need to wait for a strong improvement in the economy before he can stamp his name on the group. Mazwai took over from founder Sisa Ngebulana in October, having been on Rebosis’s board and hand-selected by him. Mazwai said the group’s capital would be focused on the Baywest and Forest Hill nodes as opposed to investing more aggressively abroad. He was speaking at the release of Rebosis’s financial results for the year to August, which showed the retail-focused fund grew its B share dividend 7.4%, to 128.35c per share. Its A share dividend grew at 5%, which had been guaranteed by Rebosis. "Baywest and Forest Hill can become real nodes. They offer massive development opportunities. Our shopping centre in Baywest City can serve people who open offices in the area and live in the area. "The Billion Grou...
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