Never give up, property mogul tells youth
EASTERN Cape-born property mogul Sisa Ngebulana believes there is nothing more important than being honoured at home, including being recognised in foreign countries.
He was addressing people at the Walter Sisulu University in Mthatha, where the institution bestowed an honorary doctoral degree in commerce on him. He used the graduation to encourage young people to strive for excellence irrespective of their background. He told his story of success from the humble beginnings of Corhana village to building his multibillion-rand empire.
“Firstly, I am grateful to the Walter Sisulu University for its decision to confer this honour on me. I grew up with my grandparents in a nearby village of Corhana and walked the streets of this town as a child – all of which make this recognition very special and meaningful.
“Growing up, I spent a lot of time in my grandparents’ business – they owned a general dealer store where I had my first taste of business, and they also had a brickfield business.
“This is where I developed a passion for real estate,” said the respected philanthropist, who has built churches and classrooms for a number of communities in and around Mthatha.
Ngebulana said his grandmother, Nontle Ngebulana, believed in proper education and it was through her guidance that he had chosen to study law. Property came later.
“I am giving you this anecdote so you can understand why education – yours, mine, and [for] future generations – is important.
“Education is a powerful tool that will help you unlock the power within to change the world and influence people. Hold tight to this passport – it will open many doors you never thought existed,” Ngebulana said.
“In so many ways, your graduation marks the beginning of something new, just as this honorary doctorate celebrates my past contribution to business and humanity on many frontiers in business.
“It also marks an important milestone as I will be breaking ground on many frontiers in business.”
Ngebulana started his career in Scottville in KwaZulu-Natal, selling houses to pay off student loans, then moved to Cape Town, where he formed an agency specialising in commercial property.
“For some years, I gained good corporate experience and honed my skills working as legal advisor and then treasury and financial markets.
“It was through this rigorous process of learning that I enabled myself to start new ventures, which is why today I am standing in front of you,” he said.
It was not until 20 years ago that Ngebulana started his own company, Afcon – a construction and development company of upmarket homes. Afcon was consolidated into Billion Group, an award-winning property development and investment company.
The Billion Group is the developer of shopping centres including Mdantsane City, Hemingways Mall, Port Elizabeth’s Bay West and Forest City in Gauteng.
In 2010, the Billion Group established Rebosis Property Fund Ltd which listed in May 2011, becoming the first black-managed and substantially black-held property fund to be listed on the Johannesburg Stock Exchange. It was the largest IPO on the JSE property sector.
Ngebulana said his success had not come easy. “So yes, you are likely to fail at first, but really, failure is a first attempt in learning – just remember that you will be met with disapproval, rejection, not everyone will like you, people will let you down; never give up. Instead, use these experiences to build your own strength and character,” said Ngebulana.
Ngebulana’s mother, siblings and other family members attended the event.