Here’s What You Should Know About Sisa Ngebulana’s Stake in this Financial Services Company

Updated on 12 November 2018

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Sisa Ngebulana, who founded Rebosis, the first black-owned JSE-listed property group, is now a non-executive chairman of Anchor Stockbrokers.

The Billion Group, SA’s first major black-owned property company established the Rebosis Property Fund Ltd in 2010.

Ngebulana is the founder and executive chairman of the Billion Group.

According to Business Live, Ngebulana is leading a consortium that has acquired 51% of Anchor Capital’s stockbroking arm, Anchor Stockbrokers, in an empowerment deal intended to increase its appeal to institutional investors.

Anchor Capital is part of the Anchor Group, a financial services holding company with investments in several Financial Services companies.

Black empowerment transaction

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 estate, Adams said.

Ngebulana has 25 years of experience in the property sector, according to IOL Business. He has also won various awards including Entrepreneur of the Year (2006), the Pioneer Award (2014) and the African Business Excellence Award (2014).

The transaction was subjected to be effective from June 1. The Anchor Group said upon completion of the conditions (of regulatory approvals), Anchor Stockbrokers would become a Level II broad-based black economic empowerment contributor.

Enhancing research

Anchor described its stockbroking arm as having a niche focus on real estate research.

Ngebulana said that given regulatory changes, corporate governance demands and intensifying competition, it was increasingly important that research houses remained autonomous and flexible to provide clients with objective insights and analysis. “The transaction will enable a boutique house such as Anchor Stockbrokers to leverage its track record and independent thinking, especially within real estate and related sectors,” Ngebulana said.

The group said the transaction would enhance research and insights solutions to clients across the spectrum but with a strong property focus.

The profits and assets

Anchor Stockbroking, which launched in September 2017, is one of three Anchor subsidiaries, which oversees the assets of R288m as of the financial year to end December, compared to the group’s R53bn.

The subsidiary generated R43m in revenue, off a R5m operating profit.

More on the Anchor Group

The Anchor Group’s divisions are Anchor Capital, Anchor Financial Services and the Investor Campus. The services of Anchor Capital, for example, include offering local- and offshore investment solutions. CEO Peter Armitage of Anchor Capital told Business Day last year that probably about a third of their assets are offshore and have nothing to do with South Africa.

“And if South Africa does badly in rand terms that asset pool will grow nicely.”

In terms of Anchor’s domestic portfolio, Armitage said they have very little retail exposure — the only bit would be Pick n Pay. He added that they are, for example, heavy in Naspers and that it’s their biggest holding.

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