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Meet Sisa Ngebulana, The Founder of First Black-Managed Property Fund to be Listed on Johannesburg Stock Exchange

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Say hello to Sisa Ngebulana. He founded Rebosis Property Fund, the first black-managed real estate fund to be listed on the Johannesburg Stock Exchange (JSC). He is also the founder of Billion Group, a commercial and retail real estate development company.

Following the death of his father, Ngebulana was born and raised by his grandparents in Mthatha (in South Africa’s Eastern Cape province). At a young age, he was taught that success does not come on a silver platter. He was taught the value of good behavior, discipline, and purpose, as well as the responsibility of being accountable for his actions.

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“At any given time, there were between 12 and 15 of us in the house, cousins, brothers and sisters, and we were all always working. Every day, my grandmother woke us up early and instructed us to find something to do. “‘You have two hands and two eyes,’ she’d say, ” he recollected in an interview with the Entrepreneur. “‘You’re blessed. Now go and use them.’ She gave us the tools to make something of ourselves, but it was up to us to use them. “

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Sisa founded his first company, a trucking and transportation company, on these principles, which failed. He was determined to succeed, so he re-launched the company while doing his articles at a Cape Town law firm.

By the time he finished his articles of service, his trucking and transport company had grown to the point where he decided to make it his full-time job.

His early success came to a halt as soon as he decided to pursue the trucking and transport business full-time. He was in so much debt that he couldn’t even pay his creditors.

The challenges in his business soon began to affect his general well-being. According to him, he blacked out three times in a matter of weeks. Initially, his doctors thought it might be kidney stones.

“The second time, they decided the problem was my appendix, and they scheduled an appendectomy. I was still recovering from the operation when I had my third blackout. It was at that point that my aunt, who is a doctor, told me that my problem was stress. It was clear: it was the business or me. I had to make a choice,” he noted.

He owed the bank $50,000 at the time (around 800,000 South African Rand). To pay off his debt, he decided to auction off his trucks and get a job to begin repaying the loan, which his bank turned down and gave him time to pay. He paid off his debt in 32 months.

Aside from the challenges of running a trucking and transportation company, Sisa pursued other interests until 2010, when he founded Rebosis Property Fund. The company was listed on the JSE the following year.

According to Entrepreneur, the company was also the first black-owned and managed property company listed on the JSE, as well as the largest IPO in the property sector. Rebosis Property Fund and its sister company Billion Group have a combined asset value of more than $200 million and a market capitalization of approximately $180 million.

It was not easy to establish the first black company to be listed on the stock exchange. Sisa faced numerous obstacles but never gave up on his dreams. He faced advisors and saboteurs but remained unwavering in his pursuit of success.

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Written by How Africa News

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