Home Business South Africa: Inside Sisa Ngebulana’s Plan to Save Struggling Rebosis Property Fund

South Africa: Inside Sisa Ngebulana’s Plan to Save Struggling Rebosis Property Fund

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It is high noon for the proposed merger between Rebosis Property Fund and Delta Property Fund. The next five weeks will determine whether the merger is cemented or collapses again. Market watchers say Rebosis needs the merger to raise capital and pay down its smothering debt.

Sisa Ngebulana, the businessman who founded one of three available black-owned and managed real estate companies on the JSE, has overhauled his eating habits by embracing a liquid diet.

The diet, which Ngebulana started on 27 January, usually involves a berry smoothie for breakfast, vegetable soup for lunch and a vegetable smoothie (with ginger and kale being the main ingredient) for supper – with the meals being washed down with a cup of hot water throughout the day. The liquid diet is not part of his 2020 New Year’s resolution but his general goal to detox, feel feather-light and replenish his energy to function optimally.

The start of the diet is well-timed because Ngebulana will require a lot of energy in the next five weeks as he will be in crucial talks with shareholders, lenders and corporate fixers to win them over to a plan to rescue his debt-laden real estate company Rebosis Property…

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