From bottle stores to the big boys’ table
PROFILE: Rebosis CEO-designate Andile Mazwai
Former stockbroker plans to propel the JSE’s first majority black-owned and managed property listing into a major player in the sector
Andile Mazwai, former stockbroker and the man in line to be the CEO of Rebosis, plans to grow the JSE-listed property fund aggressively in size and stature. When he opened his first liquor store 21 years ago in Lusikisiki, the small Xhosa village in the old Transkei from where he hailed, Mazwai did not know that a few years later he would be running one of SA’s largest stockbroking firms. The liquor business taught Mazwai, who at the time had just graduated from UCT with a BCom honours degree in information systems, how to make money by buying low and selling high. "I quickly realised if I bought large enough volumes of beer from SA Breweries I could qualify for a sizeable discount, which allowed me to undercut my competitors." Within two years, he was running three liquor stores, making him the dominant beer trader in the region. "It was my first encounter with the art of arbitrage, and I absolutely loved it." At 26, Mazwai found himself in Johannesburg, where his wife-to-be, Mondo...
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