PROFILE: Meet Nosiphiwo Balfour, CEO of Texton Property Fund
Despite lingering investor jitters, the listed property sector’s first black female CEO is making headway in positioning Texton for a rerating
When Nosiphiwo Balfour, 35, was appointed CEO of Texton Property Fund a year ago, many thought the former banker and Investec analyst had been handed a poisoned chalice. Not only was she the fourth CEO to take over the reins at Texton within barely two years but her appointment came at a time that shareholder sentiment had hit rock bottom following a steady decline in the share price. Dividend growth was also under pressure, squeezed on the one hand by Texton’s heavy exposure to SA’s struggling office market and on the other by tough trading conditions in the UK on the back of Brexit issues. Balfour was also one of the youngest and first black female CEOs to enter a sector known for its "old boys’ club" approach. But unfazed and determined to steer Texton back to stability, Balfour quietly got on with the job. A year later, she has made impressive strides in turning Texton around. Balfour cites the completion of the long-awaited internalisation of Texton’s management company as a ma...
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