Sisa Ngebulana, who founded Rebosis, the first black-owned JSE-listed property group, is expanding into financial services by buying a stake in a well-known stockbroking firm. Ngebulana is leading a consortium that has acquired 51% of Anchor Capital’s stockbroking arm in an empowerment deal intended to increase its appeal to institutional investors. The transaction represents further progress in the transformation of the financial services and asset management sector, following Peregrine Securities’ recent announcement of the formation of an empowerment consortium that could receive a 65% stake in return for R901m.

The sale of Anchor’s controlling interest in Anchor Stockbrokers comes only a year and a half after the launch of its research and brokerage subsidiary. Anchor Stockbrokers CE Brett Adams said a black empowerment transaction had always been on the cards and Ngebulana was the preferred candidate. The partnership fits well with the subsidiary’s focus on local real est...

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