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Tribute to the property industry’s leading ladies “There are two powers in

the world: one is the sword and the other is the pen. There is a third power stronger than both – that of women” Malala Yousafzai


In profile YOU MUST KNOW THIS ABOUT HOMEOWNERS’ ASSOCIATIONS’ RULES Each Homeowners’ Association (HOA) has its own Memorandum of Incorporation (if it is an incorporated company) or Constitution (if it is established in terms of common law rules) and these governing documents provide the structure for the making of rules in these associations. The rules are binding on all owners and usually regulate the day-to-day management, administration and governance of these associations and prescribe conduct rules. Remember that this is quite unlike the position in sectional title schemes where there is legislation that prescribes certain management and conduct rules and thereby, to a large extent, standardizes management in sectional title schemes.

changing the rules, in compliance with the HOA’s Constitution or Memorandum, requires assistance of property specialists. Now even more so than before, since the new Community Schemes Ombud Service Act established an accessible forum where owners can dispute the validity or appropriateness of changed rules. STBB is an expert property law firm and deals regularly with disputes in sectional title schemes and HOAs, whether or not the office of the Ombud is involved. Contact us on for assistance.

From time to time it becomes apparent that the rules of a HOA are not entirely suitable and practicable for the management of the association, or have become outdated. Amending or



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SAPOA women in property





From the CEO 2 SAPOA’s first ladies 4 Women in history 6 Women making waves in the property industry 8 Byrd’s eye view of Africa 10 Strategic growth through strong leadership 11 Excited about the Property sector 12 Matching skills with human capital 13 Firmly in the driver’s seat and steering SAPOA’seducation drive 14 Legally speaking 15 Putting partnerships together 16 SAPOA in search of data 17 Success forged on lasting relationships 18 Grit Real Estate Income Group 22 Public Investment Corporation, Urban Kraal, Golndustry DoveBid 23 Delta Property Fund 24 Sanlam 25 Vision, innovation, inspiration and leadership: that’s the order of the day for the SA Women in Property Awards 26 SAPOA Annual Convention and Property Exhibition Ladies’ Breakfasts 28 Editor in Chief Neil Gopal Editorial Adviser Jane Padayachee Managing Editor Mark Pettipher Copy Editor Ania Rokita Public Relations Officer Maud Nale Production Manager Dalene van Niekerk Designer Eugene Jonck Sales Robbie Pansegrauw e: Finance Susan du Toit Photography Mark Pettipher, Xavier Saer

FOR EDITORIAL ENQUIRIES, email Published by SAPOA, Paddock View, Hunt’s End Office Park, 36 Wierda Road West, Wierda Valley, Sandton PO Box 78544, Sandton 2146 t: +27 (0)11 883 0679 f: +27 (0)11 883 0684

Printed by Designed, written and produced for SAPOA by MPDPS (PTY) Ltd e:


DISCLAIMER: The publisher and editor of this magazine give no warranties, guarantees or assurances and make no representations regarding any goods or services advertised within this edition. Copyright South African Property Owners Association (SAPOA). All rights reserved. No portion of this publication may be reproduced in any form without prior written consent from SAPOA. The publishers are not responsible for any unsolicited material.

SAPOA women in property


From the CEO Maya Angelou once famously said, “How important it is for us to recognise and celebrate our heroes – and she-roes!”


his month, as we celebrate Women’s Day, I want to recognise the incredible contributions made by each and every woman in the property market. We here at SAPOA would like to join the industry in celebrating the progress made for women’s rights, women’s empowerment and gender equality. The world of work is changing, with significant implications for women, and the struggle for women’s rights has always required incredible courage. SAPOA’s stance on this is clearly evident in the representation at our

Executive Board level, National Council committees and expert speakers at our various events, including our breakfast sessions, the annual Convention and educational programmes. Ultimately, we’re all striving for the same goals: a world where women are equal everywhere, where women’s rights are human rights, and where women’s role in the workforce is on parity with men’s. SAPOA is committed to never allowing the industry to treat women as anything other but equal.

I want to take this opportunity to thank each woman for her invaluable and continuous support in making our industry a force to be reckoned with. We look forward to continuously sharing our learnings and experience with the industry, as we collectively answer Maya Angelou’s call. In the meantime, here’s to all the “she-roes” who toil so relentlessly for equality and inclusion in our industry. o Neil Gopal, CEO

FROM FRONT TO BACK: Verusca Sewpersad (Bookkeeper); Zuki Thembani (Housekeeper); Nkepile Setshedi (Receptionist); Mafonti Morobi (Education Officer); Mitta Ndaba(Committee Coordinator); Rechelle Jevon (PA to Neil Gopal); Portia Mkhabela (Education & Training Manager); Maud Nale (Public Relations Officer); Jane Padayachee (Marketing & Services Manager); Mumtaz Moola (Legal Consultant); Susan du Toit (Finance Manager) and Beryl Tshaka (Membership Relations Officer)


SAPOA women in property

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South African Property Owners Association - Property Register

EACH YEAR WE ACCEPT a large number of listings and advertisements from SAPOA professionals and service providers across the entire spectrum of property activities. Don’t miss out on this well-used, popular industry resource. SAPOA aims to provide added value by offering the basic listings free of charge to all members. In this respect, we hope that we are assisting you in your marketing endeavours to some extent. We thank you for your support in previous years. In an effort to improve the look and ease of usage, we have redesigned the directory layout to a four-column grid and have made available certain entries that will stand out from the norm.


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● 40 categories, full - and part-category page sponsorship ● Highlighted data entries ● Data entries with logos ● Affordable small advertisements (half- and quarter-page) ● Boxed columns and part columns

For advertising opportunities and rates contact t: +27 (0)11 883 0679 f: +27 (0)11 883 0684 e:

2015/12/01 11:25 AM

BOOKINGS 2018-2019 OPEN FOR SAPOA MEMBERS Booking deadline: 21 September 2017 Material deadline: Logo entries 5 October 2017 Column entries 5 October 2017 Display adverts 2 November 2017

SAPOA’s first ladies


Lynette Finlay

Marna van der Walt

President, 2004 to 2005

President, 2007 to 2008

As the first female SAPOA President, Lynette Finlay, Director of Emerging African Property Holdings had a front seat in the transformation agenda of the association. At the inception of the Property Charter In 2004, SAPOA was one of the driving forces behind ensuring all parties were at the negotiating table. It was a much needed platform for the industry to share views on a workable way forward and strengthened everyone’s position in the industry including women. The Industry has come a long way since then, and people of all races and gender now take up their rightful place in Boardrooms and top positions and make a significant impact. Along with the Property Charter, SAPOA focussed on introducing more educational programs at a University level to encourage young people to enter the industry. We restructured SAPOA’s National Council, so that it was made up of the individuals who headed up committees, and therein built the organisations knowledge base and effectiveness. The Women’s role in business has always been important. Finlay was one of the founding members of the Women’s Property Network (WPN), which was instrumental in encouraging women to play a greater role in the industry. The WPN started the “five star women award”, designed to recognise women for the substantial impact they make in the property sphere on so many levels and has been well supported by the Industry. o

As the world uttered the dreaded “R-word” of recession, then-CEO of JHI Properties Marna van der Walt was preparing for the start of her Presidency at SAPOA. “I was asked by a friend of mine, Alex Phakati (then the President of SAPOA), to take up the responsibility,” she says, adding that being a woman did not cause the Board or the industry to treat her any differently. Her biggest fear, however, was that she wasn’t fully prepared. “I was still very young and felt I could do with more wisdom. It was at a time when we were working very hard on agreeing on a Property Charter for the property industry.” Over and above the Property Charter, Van der Walt’s Board contributed by implementing the Bursary Fund and driving for aligned educational courses with services SETA accreditation. o

SAPOA women in property

Amelia Beattie

Nomzamo Radebe

President, 2014 to 2015

President, 2016 to 2017

Amelia Beattie, CEO of Liberty two°degrees, coined the clever phrase of “putting the ‘REAL’ in real estate” with relationships, education, advocacy and leadership. Of the four elements, education is her greatest passion. “It was the great Nelson Mandela who said that ‘education is the most powerful weapon which you can use to change the world’. I hold the belief that, in the property industry, we can use education to deliver real transformation and change,” says Beattie. In an earlier interview, she also said that instead of women adopting chameleon characteristics to fit into their organisations, it’s the industry that needs to transform. “Business is hard, and women need to be able to stand up for what they want and the way they want it, in a manner where they don’t lose who they are as women and end up adopting a subservient role. They need confidence in businesses,” she says, adding that companies need to adopt a more inclusive approach when it comes to their female employees. o

Nomzamo Radebe, CEO of JHI – a division of Cushman & Wakefield Excellerate, became SAPOA’s first black woman president in an emotional inauguration ceremony. While attending the many events on SAPOA’s behalf, Radebe said, “I have come to realise that the property industry consists of many different parts – like the pieces of a puzzle – and that it’s important to recognise all the different pieces. When assembled, they make up a powerful combined force that is able to succeed as a whole.” Radebe’s appointment as the first black female President of SAPOA represented a transformation breakthrough in the commercial property space, and highlighted the fact that black women are being recognised in the property industry. “It has given quite a few people hope that our industry is continuing to grow and to challenge itself to transform,” says Radebe. o

SAPOA women in property


Women in history 8







191 Juliana Morell

Sophie Blanchard

Marie Curie

First woman to receive a Doctor of Laws degree

First woman to pilot a balloon

First woman to win the Nobel Prize in Physics and Chemistry

Morell was the first woman to receive a university degree. (The first woman to get a doctorate was Stefania Wolicka, from the University of Zurich in 1875.) Disregarding wealth – and an offer of marriage – Morell entered the convent of Sainte-Praxède at Avignon. In 1609, she received the habit of the order, and on 20 June 1610 took the vows. She was named prioress on three occasions.

Sophie Blanchard was a French aeronaut and the wife of ballooning pioneer Jean-Pierre Blanchard. She was the first woman to work as a professional balloonist, and after her husband’s death she continued ballooning, making more than 60 ascents. Known throughout Europe for her ballooning exploits, Blanchard entertained Napoleon Bonaparte, who promoted her to the role of “Aeronaut of the Official Festivals”.

Marie Curie was a Polish and naturalised-French physicist and chemist who conducted research on radioactivity. She was the first woman to win a Nobel Prize, the first person and only woman to win twice and the only person to win a Nobel Prize in two different sciences, and was part of the Curie family legacy of five Nobel Prizes. She was also the first female professor at the University of Paris.







Amelia Earhart

Fatima Meer

Helen Suzman

First woman to fly solo across the Atlantic Ocean

Founding member of the Federation of South African Women

Founding member of the Progressive Party

As the first woman to fly solo nonstop across the Atlantic, Earhart received the Distinguished Flying Cross from Congress, the Cross of Knight of the Legion of Honor from the French Government and the Gold Medal of the National Geographic Society. As her fame grew, she developed friendships with many people in high office, most notably First Lady Eleanor Roosevelt. Roosevelt shared many of Earhart’s interests and passions, especially women’s causes.

In 1956, Fatima Meer started to lecture in Sociology at the University of Natal. She was the first black woman to be appointed lecturer at a white South African university. During the 1970s, she was one of the leading anti-apartheid voices in the country. At this time, despite facing strong opposition from her family and Indian Congress colleagues, she began to embrace the Black Consciousness ideology of the South African Student Organisation led by Steve Biko. In 1972, Meer founded the Institute of Black Research.

Helen Suzman DBE was a liberal South African anti-apartheid activist and politician. Suzman was noted for her strong public criticism of the governing National Party’s policies of apartheid at a time when this was atypical of white South Africans. Suzman was awarded 27 honorary doctorates from universities around the world, was twice nominated for the Nobel Peace Prize and received countless other awards from religious and human rights organisations around the world.


SAPOA women in property

Women have been transforming the world since the 1600s, here are a few notable women who pioneered their way into the history books







Emmeline Pankhurst

Charlotte Maxeke

Cecilia Makiwane

Founded the Women’s Social and Political Union (WSPU)

First South African black woman to get a bachelor’s degree

First black professional nurse in South Africa

Emmeline Pankhurst was a British political activist and leader of the British suffragette movement who helped women win the right to vote. She shaped an idea of women for our time; she shook society into a new pattern from which there could be no going back. She was widely criticised for her militant tactics, and historians disagree about their effectiveness – but her work is recognised as a crucial element in achieving women’s suffrage in Britain.

She graduated with a BSc degree from Wilberforce University, writing in Xhosa about the social and political situation occupied by women. In Umteteli wa Bantu, she addressed the “woman question”. As an early opponent of passes for black women, Maxeke was politically active throughout her adult life. She helped organise the anti-pass movement in Bloemfontein in 1913 and founded the Bantu Women’s League of the SANNC in 1918.

Makiwane enrolled at Lovedale College in1903 and, on completion, was sent to Butterworth Hospital for further training to prepare for the Colonial Medical Council examination. On 7 January 1908, after passing her exams, Makiwane was registered as the first black professional nurse. In 1912, she took part in the first women’s anti-pass campaign, where a petition was signed by more than 5 000 African and mixed-ancestry women.







Valentina Tereshkova

Miriam Makeba

Irene Koki Mutungi

First woman in space

One of the first African musicians to receive worldwide recognition

First African woman to captain a commercial aircraft

Valentina Vladimirovna Tereshkova (born 6 March 1937) is a retired Russian cosmonaut, engineer and politician. She is the first woman to have flown in space, having been selected from more than 400 applicants and five finalists to pilot Vostok 6 on 16 June 1963. She completed 48 orbits of the Earth in her three days in space. In order to join the Cosmonaut Corps, Tereshkova was honorarily inducted into the Soviet Air Force; she thus also became the first civilian to fly in space.

Zenzile Miriam Makeba, nicknamed Mama Africa, was a South African singer, actress, United Nations goodwill ambassador, and civil-rights activist. Of the many albums she released, the most popular song was “Pata Pata” (1967). Associated with musical genres including Afropop, jazz and world music, she was known for her advocacy against apartheid and white-minority government in South Africa.

SAPOA women in property

There are two kinds of people, those who do the work and those who take the credit. Try to be in the first group; there is less competition there. - Indira Gandhi

Airline Captain Irene Koki Mutungi, known as Koki, is a professional pilot in Kenya, the largest economy in the East African Community. She was the first woman on the African continent to become certified as a Captain of the Boeing 787 Dreamliner aircraft. She flies for Kenya Airways.


In profile

Women making waves in the property industry Ipeleng Mkhari is the CEO of Motseng Investment Holdings (MIH). Over the 20-year course of her sterling career, she’s had significant influence on the role that women play in both her own organisation and South Africa’s property industry as a whole

About Ipeleng Mkhari Mkhari holds a BSocSci degree from the University of Natal and has completed the Executive Development Programme at Wits Business School. During her 20-year career with MIH, she has held various positions in the company. She is currently the Chief Executive Officer. She is a director of all MIH subsidiaries and has served as an independent nonexecutive director of various public companies. She has received the following nominations and awards: Cosmopolitan Mover of the Year 2006, finalist in the BWA’s Entrepreneurial Business Woman of the Year 2006, finalist in the WPN 5 Star Woman Award 2006, awarded the Tutu Fellowship in 2008, and recognised as a leading woman in government and business by CEO Magazine in 2008. She was also the Property Network Chairperson between 2007 and 2009, and was featured in The Times in 2012 as one of 20 Movers and Shakers in Africa. In 2015, she was awarded the Forbes Pioneer Woman of the Year award, and recently accepted a nomination for SAPOA’s next President Elect 2017/2018.



peleng Mkhari didn’t intend to launch a property company. When she launched Motseng Investment Holdings (MIH) with her school friend Sandile Nomvete in 1998, it was a holding company for a security services organisation. But under their leadership, MIH has diversified into a multifaceted organisation with almost 400 people working under its banner. Mkhari had been working as the marketing manager of a CCTV company when she saw an opportunity to establish the first black-owned CCTV company in South Africa. Soon afterwards, she met up with Nomvete, who shared her entrepreneurial vision – and a large CCTV contract for the Kuene brothers provided the seed capital for MIH. At first, the company focused on the provision of soft services that included security and cleaning, but since those early days nearly 20 years ago, it has diversified into the industrial, fleet management, textile trading and property sectors. In 2002, the entrepreneurs were approached by Marriott Corporate Property Services to form a 50/50 joint venture. “This fit in perfectly with our company strategy of expanding into the built environment, so we were eager to sign on the dotted line,” says Mkhari. SAPOA women in property

A joint venture was launched under the name Motseng Marriott Property Services and went on to become a fully staffed management services business, which proved to be a toe in the water of this industry for Mkhari, who was then inspired to invest in and start up similar property-related businesses. In 2004, MIH acquired a three-percent share of KAP International Holdings, a listed group that specialised in contractual logistics and passenger transport, and was also diversified into industrial activities, timber, chemicals, automotive components and the manufacture of bedding. In 2005, it became apparent that all of Mkhari and Nomvete’s hard work was really paying off when MIH achieved a turnover of more than R100-million. “This incredible milestone put us in a solid financial position to acquire Marriott Corporate Property Services’ 50% stake in our business, so we achieved 100% ownership of our own organisation – which is when we renamed it Motseng Property Services,” says Mkhari. “That was a big year for us because in 2005, we also established Motseng Facilities Management to fulfil the growing demand for a company entity that focused purely on the facilities management arena.” In 2007, they established Motseng Strategic Investments, and offloaded the company’s security and cleaning services to focus on their core business. And in 2008, the company took bold steps forward once more. “We wanted to become so much more than a service provider to landlords,” says Mkhari. “So we set our sights on acquiring commercial assets with long-term government leases. This was our first foray into the ownership space.” The strategy didn’t deliver overnight success – but in the period of about three years, Motseng had taken ownership of approximately R1-billion in assets, with capital off its own balance sheet. However, the company felt this was not a sustainable approach to acquisition – so in November 2012, 20 additional assets were purchased, and Mkhari listed the Delta Property Fund and sold the Motseng-owned assets into a specialpurpose entity. In 2007, she was appointed Chairperson of the Women’s Property Network (WPN). At that time, a fairly significant part of the executive committee’s focus was on education and mentorship. A year later, Mkhari launched the Education Trust and mentorship programme. It was clear that WPN was rebranding itself as an organisation that focused on much more


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She says the industry is working hard to provide a clear narrative and direction around the property sector charter scorecards and in so doing will have the responsibility to see the process of transformation through. “We have seen an increase in previously disadvantaged entrepreneurs addressing this issue, however, more still needs to be achieved in the ownership space.”

Thenetworking. education than just “Thetrust EXCOsupported at the time women was very of colour who wanted to study property at leading tertiary institutions – at the time, no other passionate about seeing more women the proud of these initiatives organisation were doing this.entering “I am very industry, and we Iwanted to they encourage junior and because believe contributed positively to the advocacy and transformation Ipeleng remains a trustee of the For young women hoping to enter the property sector, Ipeleng middle-management women oftothe takesector.” their rightful education trust. suggests the following: “It is a very interesting and growing industry place in the traditionally male-dominated property and it needs more women. Make sure you’ve done your research She and understand what is ahead of you. Commercial property is a industry,” shefirmly says. believes that for South Africa to have a sustainable future, to be done right. “Property is a massive contributor stable, long-term investment option, whether you are providing Thetransformation education trusthas supported women of colour to other sectors, including finance, real estate and business services. services or acquiring or developing assets – but you have to be who wanted to study property-related degrees atSouth Africa’s Vinolia Andrews Simba We contribute around a fifth towards GDP, but we driven and determined.Desiree No one is going to do the work for you!” CEO, Imbumba Aganang Chief Financial Officer, MIH untransformed the perspective of direct or Private Party leadingremain tertiary largely institutions. At the time, from no other indirect ownership.” Desireé Simba joined the MIH team in August 2016 Vinolia Andrews, who holds a BA (Law) from the organisation was doing this. “I am very proud of and is now responsible for the Group’s finances. She University of Natal, is currently employed by these initiatives because I believe that they contributed has more than 17 years of experience with strong Motseng Concessions as the Managing Director, very positively to the advocacy and transformation emphasis on financial management, performance and is serving as the Chief Executive Officer of of the sector.” Mkhari remains a trustee of the degree from the the BWA’s ‘Entrepreneurial Business and Woman of the management strategy. She Year’ holds 2006, a BCom Public Private Partnership. EducationIpeleng Trust. holds a Bachelor of Social Science University of Natal and has completed the Executive Development Finalist in the ‘WPN 5 Star Woman Award’ 2006, awarded the Tutu accounting from theasUniversity of Cape Town, is a demonstrated achiever withinmore She fiProgramme rmly believes that, for South AfricaSchool. to have aDuring herShe20-year at Wits Business career Fellowship 2008 and in being recognised a leading woman MIH, she has held positions is in commercial government the CEO magazine in the 2008. She a BCombyHonours in accounting from University thancompany 15 years and of industrial, andand business sustainablewith future, transformation hasvarious to be done right. in the currently the Chief Executive Officer (CEO). She is a director of all was also the Property Network Chairperson between 2007 and KwaZulu-Natal and as an one Advanced cate retail property management andandproperty “Property MIH is asubsidiaries massive contributor other as sectors, and hastoserved an independent, non-executive 2009, was featured of in The Times in 2012 of ‘20 Certifi Movers of various public companies. and Shakers in Africa’. in In Financial 2015, she was awarded Management from the the ‘Forbes University development experience, including mixed-use including director finance, real estate and business services,” Pioneer Woman of the Year’ award, and she recently accepted of Johannesburg. developments. She has co-managed three for of the South she says. “We contribute about she a fifthhas towards Souththe following During her career received nominations a nomination African Property Owners Association’s andbut awards, ‘Cosmopolitan Mover of the Year’ 2006, Finalist in shopping (SAPOA)centres next President Elect 2017/2018. the nine super-regional in Africa’s GDP, we remain largely untransformed South Africa, namely Sandton City and Nelson from the perspective of direct or indirect ownership.” Mandela Square, and Eastgate and Westgate She says the industry is working hard to provide a clear shopping centres. narrative and direction around the property sector has worked hard and achieved success in her life, and she believes in supporting other women. “It is imperative that all leaders She optimises stakeholder value with her charter Ipeleng scorecards, and in so doing will have the in the property industry are committed to transformation, and that women in particular support each other. I have made it one of my extensive responsibility to goals see theto process of transformation primary uplift women in the workplace.” Thesefacilities are justmanagement some of theexperience, other women leaders who serve on the group executive at MIH having completed the R120-million Phase 1 through.committee “We have seen an :increase in previously extension to Liberty Midlands Mall, the R50disadvantaged entrepreneurs addressing this issue, but University of Cape Town, a B.Comm Honours While at Liberty Properties, Vinolia was a member million refurbishment of the 20-storey Sandton more still needs to be achieved in the ownership space,” in Accounting from the University of KwaZulu-Natal of the Employment Equity Committee dealing Vinolia Andrews and an Advanced Certificate in Financial City with Officetransformation Tower and Twinthroughout Towers East the and Liberty West, she says. CEO, Imbumba Management from the University of Johannesburg. Group and was also a Libwealth Representative Aganang Private Party and for been part of the planning team for the As advice for young women hoping to enter the the aGroup. Mamase Khanyile Group HR Manager, MIH R1,77-billion Sandton upgrade. She also property sector, Mkhari has the following: “It is a very Vinolia’s firm beliefsCity are in encouraging and Vinolia, who holds a BA (Law) from the University endorsing development plans, succession Mamase Khanyile joined MIH fairly recently, after saw the R610-million Eastgate extension and interestingofand growing industry, and it needs more Natal, is currently employed by Motseng Mamase Khanyile planning and skills development of team Concessions as the Managing Director, and Group HR Manager, a 14-year already-successful career in human refurbishment completion. women. Make you’ve yourOffi research members.through She is atorole model for her team servingsure as the Chief done Executive cer of aand Public MIH by being hands-on and thereby guiding team Private resources management. She has worked in various While at Liberty Properties, wasto understand whatPartnership. is ahead of you. Commercial property members to excel, focus onAndrews attention detail and strive for exceptional aspects of recently HR, including asMIH, a human resources of thecontinually Employment Equity Committee is a demonstrated achiever with over is a stable,She long-term investment option, whether you 15 a member Mamase joined and has a service delivery. years of industrial, commercial and retail property 14-year career in human resources managegeneralist and an HR manager. She has a Diploma that dealt with transformation throughout the are providing services or acquiring or developing assets management and property development ment, having worked in diverse industries as including developments. inaMarketing Management andand a Diploma in Human Liberty Group, and also served as a Libwealth – but youexperience, have to be driven andmixed-use determined. No-one is human resources generalist HR manager. She has co-managed three of the nine super She holds a Diploma in Marketing Management regional Resources Management and Training. for the Group. Her firm beliefs going to do the workshopping for you!” centres in South Africa, Representative Desiree Simba and a Diploma in Human Resources namely Sandton City and Nelson Mandela Chief Financial Officer, encouraging and endorsing development Management and Training. Square, Eastgate and Westgate shopping centres. are in MIH Women on top plans, succession planning and skills development She optimises stakeholder value with extensive Desireé joined theShe MIHisteam in August and Management experience, having Mkhari hasFacilities worked hard and achieved much success in of team members. a role model 2016 for her is responsible for the Group’s finances. completed the R120-million Phase 1 extension her life – to and she believes supporting other women team by being hands-on, thereby guiding team Liberty MidlandsinMall, R50-million refurbishment of the 20-storey Sandton City Office Tower and She holds more than 17 years’toexperience in doing the same. “It is imperative that all leaders in members to excel, focus on attention detail and Twin Towers East and West, been a part of the with strong emphasis on financial management, planning team for the R1.77-billion Sandton City the property industry are committed to transformation, continually strive for exceptional service delivery. performance management and strategy. upgrade and saw the R610-million Eastgate and that women in and particular support each other,” she extension refurbishment to completion. She holds a B.Comm Accounting from the says. “I have made it one of my primary goals to uplift t: +27 (0)11 267 8000 women in the workplace.” These are just some of the other women leaders who serve on the group executive committee at MIH:

All about Ipeleng

Women on Top

SAPOA women in property

“When it comes to human dignity, we cannot make compromises” -Angela Merkel


“Byrd’s-eye” view of Africa Board Member Nnema Byrd, CFA, flies the flag for SAPOA in sub-Saharan Africa and beyond

N Nnema Byrd, Board Member

Participation in property organisations opens up the opportunity to get to know people in the industry and expand one’s perspective

A year ago, upon her appointment to the SAPOA Board, Byrd stated her intention to make the most of the opportunity to play an active role in the property industry. 10

nema Byrd joined the STANLIB Africa Direct Property Development Fund in 2014 as the Investment Principal. Born in Nigeria, she has always had a passion for the built environment, and headed off to the Massachusetts Institute of Technology (MIT) in the US to study architecture. She soon realised that she wanted a greater involvement in the business side of property, so she returned to the MIT Sloan School of Management to complete her MBA, later earning her CFA charter. Her focus on finance as well as real estate meant that she could meld her passion for buildings and finance into a career that involved raising capital to bring development projects to fruition. After 18 years in the US, part of which she spent working in real estate investment and commercial banking as well as in real estate private equity, Byrd returned to Africa to further her goal of contributing to property development on the continent. A year ago, upon her appointment to the SAPOA Board, Byrd stated her intention to make the most of the opportunity to play an active role in the property industry. In a vibrant and stimulating 12 months, she has embodied SAPOA’s objectives, has built relationships with fellow Board members, and has participated in some significant SAPOA events, including the “Meet the Mayor” dinner in Cape Town. She says she felt privileged to have met Patricia de Lille. “It was exciting to hear about the Mayor’s successful projects, aspirations for the Mother City, and the strides the city is taking to become a global ideas centre and digital city that stands as a beacon in Africa,” says Byrd. “It has also been very worthwhile participating on the Board and seeing many of SAPOA’s goals being met by the team, and the recognition of the impact the organisation has within the industry.” Byrd does a fair amount of travelling as part of her job, and when asked about an interesting place she had visited, she recalled her business trip last year to Abidjan in Côte d’Ivoire. She states that, as the country emerges from the political conflict and economic instability that occurred over the greater part of the past 20 years (which resulted in a lack of investment in fixed assets and property), there is now a rush to bring SAPOA women in property

to the market newer, institutional-quality assets, particularly in the retail space. Byrd finds that the less-volatile, euro-pegged West African CFA franc used in Côte d’Ivoire gives investors additional comfort. However, it is important to note that there are some well-established local and regional retail tenants and developers, which means that new entrants into this market will need to be very competitive to gain significant traction. Byrd believes there are a number of attributes that women have that they can bring to the table. Her advice to any young woman entering the property industry is that, first, hard work and diligence pay off ; and second, that it is vital to pay attention to the details. Finally, networking and building relationships with people in the industry is key. As a woman in property, one of the biggest challenges Byrd has faced is breaking into a maledominated industry in which networking and the transfer of skills and knowledge often happen informally. However, participation in property organisations opens up the opportunity to get to know people in the industry and expand one’s perspective. She believes that the traditionally challenging aspects of the property industry will continue to equalise as more women achieve leadership positions in property. She is very grateful to have had the opportunity to work with such trailblazing women in South African property as Amelia Beattie (CEO of Liberty Two Degrees), Marna van der Walt (CEO of Excellerate Property Services) and Nomzamo Radebe (CEO of JHI and Immediate Past President of SAPOA), who all continue to pave the way for women in property. Byrd’s objectives for the year ahead include a focus within the research arm of SAPOA on markets outside of South Africa, for the benefit of SAPOA members who are increasingly expanding north of South Africa’s borders. In addition, she has identified a need for developing similar advocacy models in the various countries. o STANLIB Africa Direct Property Development Fund +27 (0)11 448 5032

Strategic growth through strong leadership SAPOA’s Women in Property talks to Zola Malinga, co-owner and founder of Jade Capital Partners


ola Malinga is a qualified chartered accountant who, while working in the investment banking division of Standard Bank, seized an opportunity to become a consultant within the property finance division. Her strong finance and investment-banking skills and exposure to property finance made perfect sense as an entry into the commercial property sector. “I joined the property sector in 2010, and through hard work and excellence in delivery, I quickly moved into a senior director role within Standard Bank,” she says. “During that period, I connected and built relationships with strategic and influential leaders in the sector. It is those relationships, built in the few years at Standard Bank, that have contributed towards the success of Jade Capital, and towards my personal journey. I had an interest in property, having advised on a number of property transactions at Standard Bank and while working as a Corporate Finance Consultant at Investec Bank Limited; at a personal level, I also invested in residential property.” Inspired by investment companies such as Peotona and Wiphold, both led by women, Malinga believes that, with Jade Capital, she can contribute towards the sustainable economic empowerment of black women through strategic investments that will yield strong shareholder returns. “I partnered with Bukelwa Bulo in 2013 to start Jade Capital,” she says. “Our vision is to invest in and build strategic investments that we can use to drive our empowerment initiatives in key sectors – property, infrastructure and industrials. We invest in companies where we can add significant business value and

The property sector is diverse and entrepreneurial in nature, offering a wide range of opportunities throughout the value chain.

transform business operations while creating value for all shareholders. “We also set up Jade Foundation – a 20% shareholder in Jade Capital – as a vehicle through which we can drive our empowerment initiatives, with key focus areas such as education, skills development and enterprise development. In the property sector, we are building a portfolio of commercial, residential and property services investments, and we have invested in Texton Property Fund and a utility management company. In addition, our private equity investments include Jade Precast (precast concrete products) and Weldamax (welding equipment).” Malinga says that the property sector is still predominantly male-dominated, and although there has been an increase in women in the sector, there is a need to elevate more women in senior leadership roles who can influence the economic landscape for the benefit of all women, and who can add value at strategic levels. The property sector is diverse and entrepreneurial in nature, offering a wide range of opportunities throughout the value chain. There are very few women-owned companies in property ownership, property services and even professional firms. There aren’t enough businesswomen in the sector to provide mentorship support, collaborate on deals and create normalcy for women in business. “There is a significant role that women can play to transform the sector both in corporate and in business,” says Malinga. Her words of encouragement to young women who wish to enter the property space? “You need to develop skills and a solid business network to successfully migrate into senior leadership roles. Never underestimate the power of an influential and solid network. Excellence in everything you do will set you apart – people want to work with consistent, hardworking and reliable individuals. “I chaired the Gauteng chapter of the WPN. During my tenure, I interacted with many women in different roles and at various stages in their careers. One of my

SAPOA inyour property The more you praise andwomen celebrate life, the more there is in life to celebrate - Oprah Winfrey

Zola Malinga, co-owner and founder of Jade Capital Partners

observations at the time was the lack of investment in leadership development in the property sector. This inspired the inaugural WPN Leadership Programme, which has since become an annual event. At Jade Capital, we are also proud to sponsor the Eastern Cape career week, which was first held in 2016. “As a recently appointed member of the Property Sector Charter Council (PSCC) exco, I look forward to supporting the CEO in implementing the transformation objectives. The PSCC has played a significant role in the property sector with the successful gazetting of the Charter.” Having been appointed to the SAPOA Board at the recent Convention held in Cape Town, Malinga says, “My role is to support SAPOA CEO Neil Gopal and his team by providing strategic leadership and assistance to implement SAPOA’s key objectives. One of SAPOA’s goals is to continue to encourage the concept of private property ownership and development, and to promote the rewards to be gained by the formerly disadvantaged members of the South African community. “SAPOA has a big role to play in ensuring sector compliance with the Property Charter. The reality, however, is that transformation without economic growth will be limited and unsustainable. We therefore need to focus on growing the sector, identifying new opportunities, and supporting small businesses and entrepreneurs. I intend to contribute by making SAPOA more inclusive and promoting the concept of ‘inclusive economic growth’ by driving initiatives that will, among others, promote entrepreneur development.” o Jade Capital Partners +27 (0)82 394 5237


Excited about the Property sector Liliane Barnard talks to SAPOA’s Editor Mark Pettipher about the exciting opportunities that still abound in the commercial property sector


“The majority of my sisters and daughters in the Central African Republic don’t know their rights, so they can’t defend them. But we who know our rights can help them. We must always help them: the battle is always to promote and protect the rights of women” – Catherine Samba-Panza, President of the Central African Republic


iliane Barnard is the CEO of Metope Investment Managers. She previously worked at Old Mutual (now OMIGSA), gaining experience in the mining sector, building and construction, and retail stocks, as well as listed property. Barnard has held many influential positions, such as that of portfolio manager and Head of Listed Property at OMIGSA, Head of Asset Management at Old Mutual Property, and being an independent nonexecutive director of Pangbourne, Emira and Redefine. Barnard is the chairperson of the SAPOA committee involved in seeing to the establishment of legislation for unlisted REITs, and with more than 30 years in the commercial property sector, she brings invaluable experience to SAPOA. Barnard continues to be excited about the property industry, saying that it’s an amazing career to get into. “While you can work for an institution, such as an Old Mutual or a bank, there are a number of large and smaller firms all offering a variety of opportunities,” she says. “Alternatively, you can work for yourself. If you have a capacity for risk and the entrepreneurial spirit to match it, working for yourself can be incredibly rewarding. “Our industry is all about networking. We all work with the same information. Many years ago, I attended SAPOA’s two-week Property Development Programme. The exposure that I received has been invaluable – and not just in terms of how property development works. The bonds that I formed with some team members in my group mean I’m still in contact with them today. “It is important to have a holistic view of our industry, and it is equally as important to have an understanding of economics, financing and accounting. The diverse nature of our industry requires that we have a greater overview of what is involved before specialising in one field. “My advice to young women coming into this industry is to work hard, persevere and look creatively for solutions to the challenges you will be faced with. SAPOA women in property

The property sector is an amazing industry to work in. Although it has previously been dominated by men, with more and more women coming into the marketplace, perhaps our work environment is becoming a ‘softer’ place. Certainly having more women in our industry will impact our broader environment in a positive way. Barnard’s role as chairperson of the unlisted REITs sector has meant that she’d had to deal with the National Treasury, where she is advocating that the unlisted sector should have the same tax benefits as the listed sector. “It’s an extremely uneven playing field, and it is almost impossible to create an unlisted REIT,” she explains. “At the moment, we are waiting for a decision to come from Treasury on a piece of legislation known as Twin Peaks. The Twin Peaks model of financial sector regulation will see the creation of a prudential regulator – the Prudential Authority – housed in the South African Reserve Bank (SARB), while the FSB will be transformed into a dedicated market conduct regulator – the Financial Sector Conduct Authority.” Looking at trends in the industry, Barnard observes that retail is suffering in South Africa. She predicts that there may be closures on the horizon, although they won’t be as bad as in the US and the UK. Having said that, shopping centres are going to have to become “destinations” in their own right. Apart from just being a place to shop, they are going to have to include facilities such as ice-skating rinks, cinemas, a greater variety of restaurants and more innovative entertainment. Online shopping will also have an effect on our centres, as more retailers may take smaller space in strategic locations, and place greater emphasis on bigger and more accessible warehousing. On a positive note, Barnard says, “We have seen down cycles before. As a property owner, you can repurpose buildings as and when they become vacant. We’ve seen inner-city rejuvenation, and we’ve seen older

Matching skills with human capital Nicole Baumgarten leads the way by focusing on training, IT and human resources

properties converted into more mixed-use, residential and rejuvenated office spaces. “Migration and population growth play a role in driving demand for the various space requirements in our industry – but for smaller property businesses to grow, we need to have less regulation and more enabling legislation to encourage the development of inclusive opportunities within the sector.” Looking at Brexit, the uncertainty it created has affected valuations of the UK investments of foreign companies listed in South Africa. Caution is the order of the day – with some of South Africa’s pension funds invested in UK property companies, their prices are set in pounds sterling, and the rand value is also greatly affected by the fluctuations in currency. Over the past two years, REITs in South Africa have changed, expanding their geographical composition. Again, careful investigation into the funds that are being invested in needs to take place. Investors may be exposing themselves to funds that are investing in shopping centres outside of South Africa, in countries such as the UK, or in eastern European countries such as Poland, Romania, Bulgaria, Montenegro, Serbia and the Czech Republic. “South African teams operating in the overseas markets are smart and hard-working, and have diverse skills sets,” says Barnard. “We are truly proving that South Africans are highly competent, competitive and influential players in the global property market.” For smaller participants in the property industry, the challenges include the fact that bigger companies appear to have a competitive advantage. The larger REIT companies undertake sizeable transactions at more competitive pricing – but the larger their portfolio, the more difficult it becomes for these companies to add value and grow their distributions per share. When this happens, investors will turn their attention to the smaller participants, whose performance is naturally enhanced by each new deal in their quest for growth.


icole Baumgarten has worked in various fields in and outside the property industry, including property marketing for some government departments. She is currently employed by Broll Property Group as a Divisional Director of Business Operations for the Property Management Division, following the acquisition of Finlay and Associates by Broll. More recently, her focus has been on the shared services that support property management. These include human resources, training, IT systems and compliance. Having studied human resources before joining the property industry, her property training and education took place at the companies she worked for, as well as through SAPOA’s property courses and Property Development Programme. Baumgarten’s 20-plus years of experience in commercial property management, property development, marketing and consulting are paramount to her role within the committee. She believes that women are contributing significantly towards the economy by earning, saving and spending. Speaking about her vision for women in property, she says that they are making their presence felt in the industry, with many companies either headed by women or having women at top management level. “The property industry is a very competitive business environment that provides a large variety of roles and job functions that can be performed by men or women,” she says. “There is huge value in being able to combine the best skills and talents of a diverse group of people to be able to flourish in business these days. The women I see who are at the top of their game seem to be there predominantly as a result of a passion for their field of focus – and because of a healthy competition within themselves to continually do the extraordinary.” o Broll Property Group (Pty) Ltd

“Nothing in life is to be feared, it is only to be understood. Now is the time to understand more, so that we may fear less” – Marie Curie, one of the most famous female scientists in history and a two-time Nobel Prize winner

+27 (0)11 441 4000

SAPOA women in property

If you don’t like something, change it. If you can’t change it, change your attitude - Maya Angelou


Firmly in the driver’s seat and steering SAPOA’s education drive Bernadet Hartley, SAPOA’s new Chairperson of Education, is on a mission to make quality education available to everyone in the property industry


ducation is one of SAPOA’s main income drivers, with an Education Committee working to ensure that training courses are not just a source of income, but that training is enhanced, promoted and of the highest standard. The more input SAPOA has into training property professionals, the better it can meet the needs of the industry. With a background in psychology and human resources, Bernadet Hartley is well placed to lead this team. “Our aim is to have an industry with trained professionals qualified to the same level,” she says. “SAPOA’s role is to make quality education available to anybody in the property industry, particularly commercial, industrial and retail. There are some good training providers but also many fly-by-nights, and sometimes the training is not practical. We want to ensure quality education – that’s why we work closely with reputable institutions and universities.” According to Hartley, one of the biggest criticisms levelled at SAPOA is that courses can be very expensive. “One of the reasons for this is that our courses are run in conjunction with universities; a large part of the income goes to the tertiary institutions,” she explains. Working with an accreditation partner, SAPOA has introduced e-learning modules. The flexible, affordable model allows students to do the training when it suits them. One of the biggest complaints from the brokers is that time is money – if they’re not working, they’re losing money, so to send them on a three-day course is not practical. But e-learning is: they can work at a time convenient for them, be it at night or outside business hours, without having to spend their time in classrooms. “Our short courses are well-priced compared to others in the market,” says Hartley. “Although there are several suppliers for training, certain subjects – for example, the negotiation processes in the property market – are very specific, so it follows that training from an organisation that knows and works with the


property companies should be the best. We’ve recently begun a recruitment drive for more member companies to participate in the Education Committee. We have the major players – Growthpoint, JHI, Eris, Abland and PRASA – but it would be nice to have a broader spread. We also have representation on the committee from the South African Council of Shopping Centres. The more input SAPOA has, the more we will be able to meet the needs of the industry. “SAPOA also offers bursaries to entice new entrants to study. For example, equity brokers are hard to come by, so we can either complain that there aren’t any candidates or we can actually grow the candidates ourselves. The bursaries can be used for any propertyrelated field, even finance. This is what SAPOA is looking to build. Obviously we would like to build more, but we are largely dependent on contributions from the industry to do so. “The Bursary Fund works brilliantly: it’s a solution for many companies as to what to do with their training budget or CSI spend. Many companies want to spend but don’t have the time or resources to manage a bursary scheme. With the SAPOA Bursary Fund, companies can pay into the fund and SAPOA will then manage the entire bursary process. These young, skilled and qualified people then become available to these organisations. The companies are contributing to making education available to students who might otherwise not have had the opportunity, and will be able to claim BEE points for their spend. We’re very excited about this programme and the companies that have pledged towards the bursary schemes.” The property industry is an ageing one, and it’s important to attract young blood to it to prevent it from becoming stagnant. “We have several initiatives to address this,” says Hartley. “We’re aiming to establish a SAPOA student council at various universities, where we can engage with students and encourage SAPOA women in property

them to attend our induction programmes, run during the June/July holidays. These programmes cover areas such as dealing with stress, the professional working environment, and the practicalities of negotiation and dealing with leases. When these applicants enter the job market, they will be better equipped to handle it.” SAPOA has also conducted several successful outreach programmes to various schools in conjunction with universities, to enlighten young learners about careers in property. “We portray property not just as another dull career option, but as a lucrative, interesting and ‘sexy’ industry,” says Hartley. “If we can instil this attraction in school-going children, we’ll be building the fresh young talent the industry so desperately needs. Starting at grassroots level is a fabulous way to develop a real connection. “I’d like to see more companies getting involved in SAPOA initiatives and participating on the Education Committee. We need their input to help spark an interest in all things property.”o Bernadet Hartley, SAPOA’s Chairperson of Education

Legally speaking When it comes to property law, it’s good to have Desireé Nafte in your corner


esireé Nafte joined the commercial property industry in 2001 as a legal adviser specialising in property law, after practising as an attorney in private practice for several years. In 2011, she was appointed the National Legal Executive at Hyprop Investments Limited; she is also the current Chairperson of SAPOA’s Legal Committee. She has a BA and an LLB degree from the University of the Witwatersrand. “As Chairperson of the Legal Committee, I have endeavoured to steer the Committee towards providing the commercial property industry with practical information relating to legal issues facing the industry,” she says with regards to her position at SAPOA. Nafte has a comprehensive knowledge of the property industry and experience in property law, and believes women are playing a significant role in helping to grow the economy of the country. “Women can contribute to the South African economy by developing a culture of entrepreneurship,” she says. “More South African women need to participate in new-business creation, as this will be a major driver in the growth of our economy. Women tend to be very innovative and creative; we need to channel this energy into new, successful businesses.”

“I have endeavoured to steer the Committee towards providing the commercial property industry with practical information relating to legal issues facing the industry”

Unfortunately, many women in South Africa are not yet recognised for the impact, growth and opportunity they can provide to our economy, Nafte says. “Greater support structures need to be put in place to develop this culture of entrepreneurship among women,” she says. “Female entrepreneurs face huge challenges in South Africa because of the increasing regulatory environment, limited access to financial resources, gender inequality, gender stereotyping and lack of skills.”

SAPOA women in property

I cannot change the world, but I can cast a stone across the water to create many ripples - Mother Teresa

South Africa is a traditionally patriarchal society, and women’s progress in the business milieu has been very slow. “Even in the executive environment, we see far too few women in senior roles and on company boards in both the private and public sector,” she says. “South Africa needs to recognise the value of female contribution within the formal sector; to ignore this will be to the detriment of the South African economy. This is already starting to happen – but the pace of transformation needs to pick up so we can tangibly see more female business-owners in the formal business environment and in executive positions.” She notes that in economies such as the US and Japan, where the employment of women has increased (as has the number of female business-owners), the GDP has also increased substantially – and there is conclusive evidence in those countries of the direct relationship between the increase in the number of female employees and female business-owners and the increase in GDP growth. “If we integrate more women into the South African economy, we will see the same results,” she says. o Hyprop Investments Limited +27 (0)11 447 0090



ohannesburg-born and raised René Styber’s early introduction to the property industry came when her children were young and she put her house on the market. The agent selling her house, with a fortuitous instinct, offered her a job, and Styber sold houses for her for six months. In retrospect, she admits, “I was not enjoying it at all. In 2006, a friend of mine suggested we join forces and start up our own business, and I have never looked back. “From 2006 to 2007 I had the most amazing run on selling land. Although not realising at the time how easy I had it, it was nonetheless this early experience that got me hooked. We sold a lot of land in Fourways for residential purposes, and the area grew incredibly fast in the couple of years leading up to the big financial crash of 2008. From 2008, everything in my business came to a complete halt. Looking for a way out of the economic cul de sac in which I’d landed, I started researching the funding availabilities in the commercial property section. I changed direction, and began to sell investment properties.” Styber maintains it is the people in her career who have been her biggest blessing – and at times also her biggest challenge. “I really enjoy working with people, and particularly like it when I connect well with someone,” she says. “We do complicated deals in this industry, and it makes negotiation difficult when I cannot build a strong rapport. Buyers and sellers are becoming more creative in the present economy, and I don’t like ever to walk away from a negotiation.” Talking about careers for women in property, she adds, “I would most definitely love my daughters to get involved in property, and I encourage them to do so because it is such a vast industry. My advice to them is simple: kindness goes a long, long way. No matter how clever or attractive you are, if you make a bad impression, it is the only thing people will remember.

“Every day is exciting, with never a dull moment, because I do brokerage in the true sense of doing pretty much everything, including the selling”


Putting partnerships together René Styber is Chairwoman of the SAPOA Brokerage Committee, and a Director of the dynamic commercial property company Rosh Pinah Properties “I joined SAPOA when I decided to do the excellent part-time Certificate for the Commercial Property Practitioner (CCPP) offered by the University of Pretoria and SAPOA. It was extremely challenging, but I really learnt a lot and recommend it to any broker. When the Property Practitioners Bill proposal came out, I was dismayed and decided to sign up for a small SAPOA workshop about the Bill, held in the boardroom. We started by taking apart the definition of a ‘property practitioner’, and everyone gave input. I became very impressed with SAPOA from the first encounter. I discovered the organisation offers incredible value to its members – to employ a really top-grade attorney is not something a small commercial brokerage does easily, and what SAPOA offers me in terms of giving the smaller broker a voice is very, very valuable. SAPOA’s mandate to develop advocacy for members is also extremely valuable. The Brokerage Board communicates with its broker members by meeting four times a year, and although that’s not frequent enough, the brokers on the committee have their own businesses, and it has to do for now. In a recent special meeting to discuss the proposed (and potentially onerous) outdoor advertising by-laws for Johannesburg, SAPOA women in property

every broker who could make it was there. We plan to go ahead and take action because this is something we cannot allow to slip through. “The Board’s main objective is to liaise with the Estate Agency Affairs Board (EAAB) via the Multi Stakeholder Group made up of representatives from various bodies. I am the SAPOA representative. Its main aim is to bring forward broker concerns with the EAAB and the industry. Our recent legal forum with Cliffe Dekker Hofmeyr was excellent, and well-attended. It was the start of a huge networking platform that we are developing; a second forum planned for the end of the year could be presented as a two-day workshop in order to include an economic forum, if this suits the brokers. “As a broker, I see myself as a bridge-builder in the property industry. We put partnerships together. “Building bridges includes working with companies as well as with individuals. For private owners, we put together joint ventures between parties, negotiate deals, and bring buyers and sellers together. Sometimes we even sell businesses – although this is not our core focus.” o ROSH PINAH PROPERTIES +27 (0)82 805 0293

SAPOA in search of data Women in Property talks to SAPOA’s Research Committee Chairperson Elaine Wilson


earing in mind that SAPOA’s role is to keep For example, in terms of Office reports, statistics its members informed as to current trends change on a regular basis, so while the base report and statistics, Research Committee Chairperson will be the same, the statistics and trends will vary on Elaine Wilson says the Committee will continue an on going basis. to commission its reports – Office Vacancy, Industry “Trends, topicality and relevance: these are the Vacancy, Cap and Discount Report, Operating key factors that dictate what SAPOA needs to keep Costs, Rates and Taxes, and the Retail Trends report. in mind. We also need to be aware of what reports There will also be the specific GDP and municipal have been issued by other bodies. There is little reports. These are part of the membership package, point in bringing out a report that has already been which can be downloaded from SAPOA’s website, commissioned and released.” As elections come and Wilson is the head go, so do mayors and Wilson is the head of research at Broll, and their committees. “With is well placed to make the change in mayors, of research at Broll, decisions about the kinds you will find that the city and is well placed of reports that will be and municipal reports are most relevant to SAPOA’s usually the same in terms to make decisions about of statistics but that the members. She is mindful of the need to be current scope may change,” says the kinds of reports with information, and is Wilson. “Each mayor has that will be most aware that reports may his or her own ideas and be outdated by the time priorities, and this has relevant to they come out. a huge influence on a city’s SAPOA’s role in research planning. We need to be SAPOA’s members. is to complement reports aware of those personnel that are already in play. changes and be prepared Reports such as the Office and Industry reports for the differences in the dynamic of a city’s are relevant because they are not produced by governance. These differences may come about other research houses and are aimed specifically at because you get a new head of town planning, SAPOA’s members. for example, whose interpretation of the city’s On the whole, SAPOA is not a research house requirements may differ from the previous planners. – so the organisation outsources the research and And so plans change. reports to institutions such as the University of “The sad thing is that there are many plans that Pretoria, Urban-Econ and MSCI. “We need to ensure have been produced based on research, and many that our reports are relevant, and while we will ideas that are brilliant that simply don’t get off the have the usual reports, we will need to be flexible paper they are planned on. We could have really great in our approach and aware that there’s a need for cities if the plans saw the light of day.” ad hoc reports as well,” says Wilson. “Reports are Wilson is a perfectionist when it comes to important to our members because a number of producing reports. She insists that all reports must them are decision-makers in the industry. Our have a flow, that each report must tell a story, reports need to be analytical as well as factual. and that every statement made must be qualified. SAPOA women in property

The final forming of a person’s character lies in their own hands - Anne Frank

“There must be answers to everything that we say in our reports,” she says. ”Our reports are about giving information to our members – so we have to have those reports presented in a clear and concise way.”o Elaine Wilson, SAPOA’s Research Committee Chairperson


In profile

Lucia Erasmus, Director for Real Estate

Nayna Cara, Director for Real Estate

Fatima Gattoo, Director Real Estate

Success forged on lasting relationships Relationships of trust between attorney and client are crucial to harnessing growth and development in real estate

t: +27 (0)11 562 1754 / / 18

SAPOA women in property

In profile


he year ahead will “test the mettle” of most real-estate The densification policies of various metropolitan municipalities, practitioners – but despite the downturn, opportunities for especially along rapid-transport routes, create future development growth and development exist and can be successfully harnessed. opportunities for developers. According to Cliffe Dekker Hofmeyr’s award-winning real estate Municipalities are willing to reduce the parking requirements in practice, the success of the coming year will be forged on the areas where public transport is available to promote public transport relationships built between attorney and client – but they will also and to alleviate traffic congestion. High-intensity mixed uses are centre on the appetite for risk in the market. created in certain nodes. Height and coverage restrictions are Even though political and economic uncertainty is likely to increased to allow intensified land uses, and to ensure that better continue locally and across the globe this year (and possibly during use is made of existing infrastructure and resources. “This is good next year), it is hoped that local growth news for developers and attorneys, and will be stronger and more supportive for should promote sustainable development,” Even though political and says Erasmus. the South African housing market, with an uptick in foreign investment. “The country’s However, redevelopment of existing economic uncertainty is political and economic situation will no properties is not without challenges doubt have an impact on the real estate because it will almost always be necessary likely to continue locally market and the clients we service,” says to apply for the rezoning of the property and across the globe this to be redeveloped. “Even though the land Nayna Cara, Director for Real Estate at Cliffe Dekker Hofmeyr (CDH). “Corporates and use rights applied for are in accordance year (and possibly during individuals alike are more cautious in their with a municipality’s policy and supported investments, and foreign investment is slow.” by the relevant service and town next year), it is hoped Fatima Gattoo, also a Director in CDH’s planning departments of the municipality, that local growth will real estate practice, is upbeat about the objections lodged by neighbours, action property market, and says that while groups and competitors will most likely be stronger and more there has been a general slowdown in delay the rezoning application if the the market, prices are, for the best part, matter is not settled with objectors. This supportive for the “holding their own”. “The banks are still also has a cost implication for developers,” South African housing granting bonds and people are still explains Erasmus. investing in property on a grand scale,” The mixed uses are often applicable to market, with an uptick she says. “With more than 40% of home a single property, so it is important that loans being granted to first-time buyers, the development is properly planned and in foreign investment it’s clear that the residential market is structured. “Where a building is developed continuing unchanged. People are buying on a sectional title basis, the management homes, and are buying into the global trend of residential and conduct rules prescribed by the Sectional Titles Schemes urbanisation. Foreign buyers find more value in our property – South Management Act should be supplemented by the developer when Africa is still cheaper in many respects, and we are a fabulous holiday, opening the sectional title register to ensure that levies payable retirement and second-home destination. This is very positive, despite by the owners of units used for different uses are fair and equitable, the downgrade status.” and that conflicting interest are balanced,” says Erasmus. However, if Furthermore, she thinks the commercial and industrial spheres are developers are aware of – and prepared to deal with – the challenges very resilient – and still very strong. “From what we are seeing, offered by the densification policies, they will reap the benefits of commercial developments should continue unabated.” However, she redeveloping existing properties within the relevant nodes. cautions that stagnant property prices, rising consumer debt and In Cara’s view, the renewable energy sector is one area of the affordability challenges still dominate the housing market. On the market that continues to grow as the effects of the early renewable upper end, the most discerning factor may possibly be political energy programmes can now be seen and felt. While the sector uncertainty, where investors start looking to invest their money has been faced with some challenges because of the “instability” abroad instead of locally. at Eskom, the players in the renewable energy market continue CDH Real Estate Director Lucia Erasmus feels that there are to invest in these projects, and are also turning their attention to the many opportunities in redevelopment of existing properties. rest of Africa. o SAPOA women in property

In order to be irreplaceable, one must always be different - Coco Chanel


In profile

Talking “Liberty’s” SAPOA’s Women in Property talks one-on-one to Liberty Two Degrees’ leading ladies

Beattie celebrates women’s achievements and warns against becoming a victim to simply ticking the boxes, therefore missing those extraordinary women who are in extraordinary places. When building teams to work together, it is important to have a balance of different genders, races and viewpoints. Each person brings with them different perspectives, and women already play many different roles. Beattie’s advice to young women entering the industry is that they should not look to be successful at all costs, but to work hard and not be afraid to collaborate within the team environment. What is a constant in Beattie’s principle-centred work life is her passion for education. She strongly believes in Nelson Mandela’s statement that “education is the most important weapon to change the world.” To this end, she is pleased that Liberty Two Degrees is working with Read to Rise, where Liberty Two Degrees is looking to include “mini” libraries in their retail centres. “If you can get a child to read a book, at the end of the book they will have something new – a story to tell and share, something that is tangible,” she says. Looking to the future, Beattie looks forward to encouraging people in the property industry as well as corporate South Africa to develop good corporate governance and to look after investors’ capital as if it is their own. In so doing, we ensure that we all give something back to the communities in which we operate.

Nikiwe Mkhabela

Amelia Beattie, Chief Executive Officer, Liberty Two Degrees

Asset Management Executive, Liberty Two Degrees

Amelia Beattie Chief Executive Officer, Liberty Two Degrees


ell known in the commercial property industry Amelia Beattie, CEO of Liberty Two Degrees and a SAPOA Past President, is known for her strong work ethic, principle-centred work-life approach and belief in not settling for anything but the best. Beattie’s rise has been phenomenal. She has a Degree in Transport Economics and Accounting. In 1999 she joined Old Mutual Investment Properties, and late 2007 saw her become Chief Operating Officer at Old Mutual Property. Four and a half years later, in 2012, she became Head of Direct Property Investments at STANLIB.


Now, as Chief Executive Officer of Liberty Two Degrees, she continues to share her passion for property. “My mandate has not changed all that much. Our objective is to continuously improve our portfolio, which has consistently been delivering double digit returns since the 1980s,” says Beattie. “It’s a reflection of the quality of our assets. “We are constantly looking to improve our asset base and keep those assets sustainable. Listing Liberty Two Degrees on the stock market is a way for our customers to have access to our assets. What we are building is a continuance of a legacy born from Donald Gordon.” SAPOA women in property


riginally from Mpumalanga, Nikiwe Mkhabela believes that she is among the few who saw property as a career. This is an outlook she attributes to her parents, who encouraged her and her siblings to seek careers which address people’s basic needs. She holds a Masters degree in Property Development and Management from Wits, a Degree in Construction Management, a National Diploma in Real Estate and an Extracurricular Diploma in Portfolio Management. “Being a driven individual, I’m always searching to improve myself. Learning motivates me, and I don’t like comfort zones,” says Mkhabela. “Part of my responsibility is to understand modern trends that affect our asset portfolio. We are actively looking

In profile

Nikiwe Mkhabela, Asset Management Executive

at ways to encourage people to go to our malls, so we offer initiatives that include family entertainment. We are aware that there is a trend towards online shopping, but I believe that there is greater value in being able to touch, look and engage while shopping.” Mkhabela’s advice to any newcomer to the retail property industry is that they should know that our industry is more than just bricks and mortar. Malls are a platform for entrepreneurs, and they are places for people to meet, have fun and be entertained. “The industry offers many aspects for one’s career; construction, facilities management, property law and finance are some examples,” she says. “Our industry is a people’s industry, and we have the opportunity to have an impact on people’s lives.” Mkhabela recognises that credit must be given to the women who have gone before her: Amelia Beattie, Nomzamo Radebe, Ipeleng Mkhari, Kgaogelo Mamabolo and the women who started the Women’s Property Network. “These are some of the women who have broken the ground and protected me from the harsh reality of a male-dominated environment,” she says. “They have taught us to be courageous, stand tall and do our jobs correctly.” Mkhabela also gives credit to her male colleagues, who are also mentors. “They are certainly cut from a different cloth.” When asked about challenges she’s faced, she says, “Challenges give us opportunities. They are positive. We need to push ourselves to be forthright, to overcome demands and deal with issues with an open mind, to be sharp and proactive. One of my biggest challenges was to move away from myself and push beyond boundaries, and to work towards being more assertive.

“Amelia is a visionary leader and has been a great influence on me. She believed in me and through her encouragement I’ve been promoted through the years from Analyst to Asset Manager. Now with Liberty Two Degrees being REIT-listed, I am able to fully apply my skills, which are a combination of education and work experience. I have a 360° view of what is happening in our industry, and I am committed to working towards providing tangible solutions to inner city accommodation and developing more sustainable and inclusive communities.”

Siphesihle Koikoi Investor Relations Executive, Liberty Two Degrees


relative newcomer to the property industry, Siphesihle Koikoi has a banking background and, at the time of writing, has been with Liberty Two Degrees a little over half a year. Koikoi is a shining example of getting into the property industry through hard work, dedication and sponsored education. Having spent four years at Wits on a bursary from Allan Gray, Koikoi completed her articles at Standard Bank and emerged as a Chartered Accountant. Her 10 years with the bank and her time at Properties Credit Business Unit piqued her interest in property as a furtherance of her career. “I heard about the listing of Liberty Two Degrees and decided I needed to try to have a conversation with Amelia. I contacted HR and the meeting was arranged,” says Koikoi. “Amelia saw something in me and, shortly afterwards, I was given the opportunity to join Liberty Two Degrees as an Investor Relations Executive.” At age 30, she is the youngest EXCO member on the team. Koikoi believes the property industry is a long-term prospect and that one needs to take a holistic view of it. Her role is not only as an Investor Relations Executive, she is also responsible for marketing. Furthermore, she is on the under-30 task force named Liberty 28 Degrees, a “think tank” looking at innovative ways to make a difference to the younger generation of South Africans. “We are looking at ways of transitioning our established assets to come in line with modern trends,” she says. When asked how she balances the demands of being a new mother and work requirements, she says, “I’m fortunate to have a husband who is also in the property industry. He understands the work demands SAPOA women in property

Siphesihle Koikoi, Investor Relations Executive

and is my support structure. I’m a structured finance person but I’ve found I’m also quite creative; combining the two qualities has created synergy in my life.” When looking at people who inspire her in the property industry, apart from those already mentioned, Koikoi singles out Chele Moyo of the WPN Gauteng Chapter because she is much the same age and has achieved much, but remains highly driven. One of the best things Koikoi has learnt from Chele is that success and failure are temporary, so one must not dwell on them too much. “Being a bit of an introvert, one of my greatest challenges is working with unfamiliar people,” says Koikoi. “Networking is also difficult for me. I find that when one puts oneself out of one’s comfort zone, new and exciting opportunities arise. I also have difficulty in delegating. I’m a perfectionist and expect the best not only from myself but from my team. “As an Investor Relations Executive, I am tasked with understanding our business. By working closely with each department within Liberty Two Degrees, I am able to find a unified and focused answer when dealing with stakeholders. I accept the challenges ahead and I look forward to taking them on and rising above them.”o

Remember no one can make you feel inferior without your consent - Eleanor Roosevelt

t: +27 (0)11 448 5500 21

In profile

Bronwyn Anne Corbett

Heidi Rix

Moira van der Westhuizen

Chief Executive Officer

Chief Operating Officer

Chief Integration Officer

Bronwyn Corbett is the CEO of Grit (previously Mara Delta) the largest pan-African real estate fund listed on the JSE and in Mauritius. She has significant corporate-finance and dealmaking experience, and played an instrumental role in the 2012 JSE listing of Delta Property Fund Limited, where she held the positions of CFO and COO prior to taking up the leadership role at Mara Delta. During her tenure at Delta, she spearheaded the diversification of the REIT’s funding sources into the debt capital markets, leading to the establishment of a R2-billion Domestic Medium-Term Note (DMTN) programme. She led the team responsible for obtaining a nationalscale issuer rating from Global Credit Ratings as part of the DMTN programme, and co-headed the team responsible for growing assets under management from R2,2-billion at listing to R11,8-billion in 2016. Corbett is a founding member of Grit and served as nonexecutive director on its Board, playing a significant role in the listing and conversion of the fund to its current pan-African focus. Under her leadership, Grit boasts a three women strong EXCO and has consistently achieved dollar-based distribution forecasts at a dollar yield in excess of seven percent. Corbett took up the position of CEO in the leadup to the company’s merger with the Pivotal Property Fund’s African operations. She’s been instrumental in growing the portfolio from US$140-million and two assets to approximately US$600-million and 19 assets across five jurisdictions since listing.

Heidi Rix joined Grit as Chief Operating Officer on 1 May 2016. She has 19 years of commercial and real estate experience, and is an admitted attorney. She has a BCom and an LLB degree, in addition to specialised real estate sector qualifications that include an Advanced Diploma in Property Practice. She joined Grit from Broll Property Group, where she was a Group Director and Managing Director of the Investor Services Division. In this capacity, she was responsible for the asset management, property management and retail leasing businesses. Her areas of expertise include asset management, investment management, portfolio management, lease management models, value optimisation of property assets, property acquisition and disposal, real estate development projects, redevelopment/refurbishment projects, portfolio analysis and due diligence, liaison between core business and real estate environment, lease negotiation and strategic input and management. Prior to joining Broll, she managed her own property investment consulting business, and held previous positions in the industry as a Director for Atterbury Asset Managers and General Manager for RMB Properties (Pty) Ltd (now Eris Property Group). Her management style encourages individuals to conduct themselves with integrity, to take ownership, be accountable and have pride in and enjoy what they do; generating a desire to fulfil or exceed expectations; using creative thought to find solutions, implement improvements and add value. Heidi values family and relationships, loves animals and believes that there is opportunity in everything.

Moira joined Grit in May 2016 as the Chief Integration Officer. She holds a B Com (Honours) degree from the University of South Africa and is a qualified Chartered Accountant with more than two decades’experience in auditing, finance and business, including managing her own practice before partnering with an audit and accounting practice in 2005, where she held the position of Audit Partner. In 2008 Moira relocated to Mauritius where she worked for Investec Bank and the CCI Group before joining Grit. As CIO, Moira oversees the co-ordination of all interacting systems within the Group and its extended environments, ensuring that the business is internally and externally coherent and congruent. Moira is the executive responsible for making recommendations to the social and ethics committee, a sub-committee of the board, on all matters related to Grit’s corporate social investment (CSI) programme. Grit’s CSI strategy is multi-faceted, given the Group’s operations across five different African countries. Moira is a passionate animal lover and current president of the Mauritian NGO PAWS (Protection of Animals Welfare Society), actively supported by other Grit executives and staff. Moira’s love for animals has inspired her to set up a much needed animal sanctuary, All Life Matters, for rescued animals. The aim of the sanctuary, besides being a home to the animals, is to teach people to have compassion towards each other, animals and the environment and a very important part of her work she terms as ‘EPOP”, empowering people to optimise their potential.

t: +230 269 7090

t: +230 269 7090

t: +230 269 7090


SAPOA women in property

In profile

Matshepo More

Neo Mokhobo

Kim Faclier

Chief Financial Officer Public Investment Corporation

Founder & Managing Director Urban Kraal Properties

Managing Director: Property GoIndustry DoveBid South Africa (Pty) Ltd

Matshepo More is the Chief Financial Officer of South Africa’s largest asset management firm, the Public Investment Corporation (PIC). As a CFO, she is responsible for providing leadership to ensure the PIC’s financial objectives are met. She is responsible for directing and overseeing all aspects of the firm’s finance and accounting functions in relation to its property portfolio of almost R40-billion. Before being appointed as CFO, More was a Senior Manager for PIC Real Estate Asset Managers (now PIC Properties), where her responsibilities included budgeting for and monitoring the financial sustainability of the business. More’s property experience extends beyond operations. She sits on the Boards of Pareto, a company with substantial exposure to retail and mixed-use properties, and Grit (previously Mara Delta Property Holdings). She was previously a member of the CBS Properties Board and Comprop, and is currently a member of the Boards of the PIC, Industrial Development Corporation and Independent Regulatory Board for Auditors. She is also an affiliate of the South African Institute of Chartered Accountants and the Association for the Advancement of Black Accountants in Southern Africa. She’s worked for the multinational firm Deloitte and was seconded to its New York office, where she serviced Blackstone – an asset management firm with a strong focus on private equity and real estate. She has a bachelor’s degree in business science (finance honours, CA option) and a BCom in accounting (honours, CTA).

Neo Mokhobo is the dynamic head of Urban Kraal, a boutique property development company that firmly believes in placing people’s needs first. Created in 2010 after Mokhobo left full-time employment at Investec Property, Urban Kraal seeks to apply an innovative approach to property development that balances investment returns with social impact. Urban Kraal partners with leading professional consultants to help transform landscapes, spaces and lives. Through Urban Kraal, Neo is quite active in the development of residential rental spaces: affordable housing, student accommodation and social housing. In addition, the company also dabbles in commercial development – retail, offices and industrial – as well as offers corporate real estate solutions such as strategy formulation, development management, leasing and tenant coordination. Neo would like to see Urban Kraal as being one of the pioneers for transformation within the South African property industry, providing an engine for growth and development among black property practitioners and entrepreneurs. Neo is a member of the Women’s Property Network and also serves on the board of Abraham Kriel Childcare Non Profit Organization.

Entrepreneurial by nature, and with a unique ability of bringing deal-makers together, Kim Faclier has more than 25 years of experience in real estate across the commercial, residential, industrial and auction sectors. A multiple award winner, in 2011 she received the prestigious 5 Star Women in Property Award, which highlighted the criteria of ethics, integrity and empowerment. She is respected by her peers, and has an extensive and established network within the South African property market. In 2012, Faclier won the Property Category Award for South Africa’s Most Influential Women in Business and Government, orchestrated by CEO Magazine. The annual awards recognise inspirational women achievers working for the benefit of South Africa and its future generations. In 2013, her experience and reputation in the industry saw her being invited to judge the World Auction Championships in the US. Since 2012, she has played an active part in the prestigious Young Presidents’ Organisation (YPO), the world’s leading network of CEOs and MDs, and is currently one of 16 members sitting on YPO’s International Networks Committee. In 2015, under her leadership, Liquidity Services’ GoIndustry DoveBid Property Auction Marketplace received the Fast Growth Award at South Africa’s National Business Awards. Over the past two years, real estate sales worth more than R800-million were concluded, changing the landscape for property transactions in South Africa by utilising the company’s proprietary in-house online-auction technology.

t: + 27 (0)12 742 3400

t: +27 (0)10 595 2366

+27 (0)21 702 3206

SAPOA women in property

Age is getting to know all the ways the world turns, so that if you cannot turn the world the way you want, you can at least get out of the way so you won’t get run over. - Miriam Makeba


In profile

Asathi Magwentshu

Rochelle Mumbengegwi

Tarisai Mhishi

Group Finance Manager

Asset Manager

Asset Manager

Asathi Magwentshu is a chartered accountant with an excellent blend of operational experience, business acumen, property industry expertise and technical financial knowledge. She joined Delta Property Fund as the Group Finance Manager, and is now responsible for all aspects of the company’s finance. She also supports the CFO in corporate activities, regulatory compliance and investor relations. As a financial management professional for more than 10 years, she’s played a key role in preparing executive management strategic plans, providing financial analysis and leadership, and implementing balanced strategies while ensuring fiscal stability. She has a talent for compilation, verification, analysis and interpretation of financial data, and is competent in statutory reporting and tax-related duties. Her proficiency in implementing, analysing and managing accounting procedures and systems allows her to develop reports for management, summarise the company’s financial status and coordinate the preparation of plans, forecasts and budgets. Organised, self-motivated and proactive, she is also adept at systems integration and staff training. Her greatest lesson so far is to treat every month as the end of the financial year. Prior to joining Delta Property Fund, she worked at Vunani Properties and Texton Property Fund. She has also previously worked in the health and banking industries, with Absa Bank Limited, Standard Corporate Investment Bank and Medscheme (Bonitas) being some of her former employers.

Having graduated from Monash University with a BCom in accounting sciences, Rochelle Mumbengegwi holds an AGA (SA) designation. She completed her SAICA articles in March 2013 at Faitz Chartered Accountants, and undertook the role of Audit Supervisor. There she was exposed to various facets of auditing privateproperty entities, government departments and SETAs (on secondment to the Auditor General of South Africa), as well as the financial reporting, accounting and tax environments. Her exposure to auditing private-property entities resulted in her enrolling in a Certificate in Property Investment and Practice at the University of the Witwatersrand; she is now studying towards a master’s in real estate. Mumbengegwi joined Delta Property Fund in April 2013 as a bookkeeper, where her combined experience was an asset to the Delta finance team. She was soon promoted to the position of Financial Accountant within the department, a role she held for three years. Her commitment and hard work have seen her grow to her current position of Asset Manager. Inspired by her father, who is a successful self-made property entrepreneur in construction and real estate management, Mumbengegwi has known from a young age that she wanted to be in the property industry. “Bronwyn Corbett also played a significant role in motivating me to chase my dreams – she became a COO in her early 30s,” she says. “When I look at her, I truly believe that with hard work and a hunger to succeed I can accomplish anything.”

Determined and resourceful, Tarisai Mhishi joined the property sector after being won over by Delta COO Bronwyn Corbett’s commanding presence and passionate investor presentation. A strong believer in the saying that “to achieve greatness, you must surround yourself with greatness” – and resolute to become a part of the Delta team – she hounded Corbett for an interview; a few weeks later, a new position of Assistant Asset Manager was created for her. Two years later, in recognition of her hard work, Mhishi was promoted to Asset Manager, and is now well placed to realise her dream of becoming a mover and shaker in the industry. Prior to joining Delta, Mhishi worked as a management consultant for Strategic Sourcing Consultants (after a brief stint providing consulting services to an NPO). The shock of how difficult it is to be self-employed as a novice fresh out of university soon set in, and she sought the experience and help of successful entrepreneurs and powerful mentors to build a solid foundation for her career. She studied for a BCom Honours degree in financial analysis and portfolio management at the University of Cape Town, and is currently pursuing a CFA charter, for which she is a Level 3 candidate. Mhishi believes in challenging herself to become better every day – to become more knowledgeable and more empowered. She draws inspiration from the numerous matriarchs in property who have accomplished great feats – the likes of Corbett and SAPOA Immediate Past President Nomzamo Radebe.

t: +27 (0)87 803 3582

t: +27 (0)87 803 3582

t: +27 (0)87 805 0419


SAPOA women in property

In profile

Azola Zuma

Karin Muller

Lebo Monyatsi

Chief Executive Officer: Sanlam Investment Management

Chief Executive: Sanlam Individual Life

Head of Group Market Development and Stakeholder Relations

Azola Zuma is the Chief Executive Officer of Sanlam Investments’ Asset Management business, which includes the equities, fixed income, absolute return and balanced fund teams. She started her career at Alexander Forbes as an asset consultant. She joined Sanlam from Vunani Limited, where she fulfilled various roles, of which the latest was Executive Director and Head of Business Development in the group’s asset management business, Vunani Fund Managers. In this role, Zuma was responsible for managing the business in close collaboration with the CEO, and positioning the company appropriately to its target market to secure new business. Client retention and service were also part of her responsibilities, with her insights into target-market needs feeding directly into product development. Zuma’s other roles at Vunani included group strategy and business development, as well as Investment Banking Executive. She served on the group exco, was a member of the social and ethics committee, and chaired the Vunani Foundation, the group’s CSI vehicle. She also spent a short while at Africa Vukani Investment Management Services as the Head of Retirement Fund Support Services. Her foundational training in the financial services industry was received while she worked at Alexander Forbes as an investment consultant. Zuma holds a degree in business science (with an honours in finance), an MA (International Business) and an MBA (International Business and Management). She is an International Women’s Forum Fellow.

Karin Muller was appointed the Chief Executive of Sanlam Individual Life on 1 August 2016. Sanlam Individual Life offers long-term insurance solutions to clients in South Africa. An actuary and a CFA charter holder, Muller first joined Sanlam in January 1997. Before her appointment as Chief Executive of Sanlam Individual Life, she was the Head of Growth Market Solutions, where she was responsible for the development of a sound financial value proposition for middle-market Sanlam clients. At the same time, she led the marketing function at Sanlam Individual Life and Segment Solutions, as well as some across-business functions in SPF. She has also held other senior positions at Sanlam, which included Valuations Consultant and Manager: Research and Development for Sanlam Employee Benefits; Actuarial Advisor; Specialist Product Designer; and Business Owner for the SanlamConnect project. Recognised for her professional contribution to the company, she was awarded the SPF Activator Award in 2007 and received the prestigious Sanlam Group Chief Executive Award in 2008. She is a fellow of both the Institute of Actuaries and the Actuarial Society of South Africa, and is a member of the CFA Institute and CFA South Africa.

Lebo Monyatsi is one of Sanlam’s inspiring leaders. She espouses the organisation’s values – leading with courage, caring for and respecting others, and acting with integrity and accountability. A Nelson Mandela scholar with an MBA from the University of Nottingham in the UK, Monyatsi’s journey began in the flower fields of Douglas, Northern Cape, with a happy childhood. “My passion was law. I followed my heart and graduated with a BProc Law from the University of the North West,” she says. She began her career at the Road Accident Fund, after which she joined the South African Air Force, becoming the first black woman commissioned as a military law officer in the air force. She then ventured into the private sector – specifically financial services – and in 2010 joined Sanlam. She says Sanlam’s employee value proposition fosters talent and growth. “I’m a beneficiary of Sanlam’s commitment to empowering its people.” In 2013, Monyatsi was one of 34 Sanlam leaders selected for the GIBS Executive Leadership Programme. The nine-month course brings colleagues together from around the world, and equips them with exceptional leadership skills. Monyatsi’s approach to leadership is inspiring. “I believe in an open-door policy,” she says. “I also believe in giving my team members true ownership of their roles, which gives them an opportunity to thrive, and the space to make mistakes and grow from them. My motto is that you need to live impactfully to make a difference in people’s lives.”

t: +27 (0)11 778 6000

t: +27 (0)21 947 9111

t: +27 (0)11 778 6000

SAPOA women in is property I have learnt over the years that when one’s mind made up, this diminishes fear; knowing what must be done, does away with fear - Rosa Parks


Vision, innovation, inspiration and leadership: that’s the order of the day for the SA Women in Property Awards Now in their third year, the SA Women in Property Awards recognise outstanding leadership, inspiration, vision and innovation in the property sector. Women in Property spoke to WPN National Chair Sandi Mbutuma, about the role these awards play in the industry We are very proud to be partnering with ACSA, and cannot overemphasise our gratitude for the valuable contribution in making these awards possible.

Now that the nomination process has officially closed, the judging panel has the daunting task of deciding who is most deserving…

Why SA Women in Property Awards? These awards are the perfect platform to showcase the skills set of women within the industry. With the introduction of the Property Sector Codes (and in the last decade alone), it is encouraging to see significant number of new female entrants into the industry, many of them able to climb the corporate ladder into senior and executive levels. With this in mind, it is fitting that SA Women in Property Awards recognise the women who have made strides in the industry. I would like to acknowledge Airports Company South Africa (ACSA), who has come on board as the principal sponsor for the third consecutive year.


We are honoured to have on our judging panel senior property professionals who have been instrumental in reshaping the role of women in the property industry. Amelia Beattie is not only the CEO of Liberty Two Degrees; she is also one of the WPN’s founding members. Another formidable woman in property is the CEO of Motseng Investment Holdings, Ipeleng Mkhari, who sits on the SAPOA Board and serves as its President Elect for 2017. We are also privileged to have Amanda Stops from the South African Council of Shopping Centres and TC Chetty from RICS as judges – both are noteworthy property professionals in the retail and surveying sectors. The quality of the entries just keeps getting better and better. For example, during the first two years, we received 27 nominations across the categories. Last year, that number tripled. This shows that the awards are gaining momentum at a very fast pace, and we are proud of the role they play. Choosing the winners is going to be the most difficult part for the judging process – all the nominees are deserving and have shaped the role of women in the property industry in one way or another.

How will the winners be announced? Ceremonies will be held during August in KwaZuluNatal, Western Cape and Gauteng, where the regional nominees and winners will be announced. This will culminate in the national awards ceremony on

18 October 2017, at The Polo Room at The Inanda Club in Johannesburg. October is a fitting time of the year to have these awards – it coincidences with Breast Cancer Awareness Month.

Companies can also get involved in supporting a worthy cause We welcome the support from the industry, whether it comes from individuals or corporates. The investment for an individual seat to the national awards and gala dinner will be R2 000, and a table of 10 will cost R20 000. I must highlight that all proceeds from the sale of tickets to the awards will go towards the WPN Educational Trust.

About the Educational Trust WPN recognises the need and importance of investing in the future female leaders of the industry, and continues to be overwhelmed by the support of other organisations. On behalf of the Executive, I would like to thank contributors for their support. The WPN Educational Trust is a special initiative, and one which has been nurtured for many years to ensure that young female graduates take their place in the industry and are able to make a meaningful contribution.

In closing The power and influence of women in the industry is phenomenal. Women continue to excel and break boundaries with substantial contributions to the changing world of property. This contribution must be harnessed for the advancement of the industry. WPN is able to improve effectiveness and efficiency, enabling women to have a more significant impact in the industry and in their organisations. o Women in Property Network

SAPOA act women in property Carry out a random of kindness, with no expectation of reward, safe in the knowledge that one day someone might do the same for you. - Princess Diana

+27 (0)31 764 1416

Proudly sponsored by


The SA Women in Property Awards is dedicated to honouring and recognising deserving women from the public and private sector who have excelled in areas of leadership, inspiration, vision and innovation. Regional nominees and finalists in each of the categories will be announced in Durban, Cape Town and Johannesburg during August, culminating in a gala dinner evening to celebrate the national winners in each category. Be part of these prestigious awards and gala dinner, taking place on Wednesday 18 October 2017 at The Polo Room, Inanda Club, Johannesburg from 7pm. Seat reservations: R2 000 per person (incl. VAT) Tables of 10 : R20 000 (incl. VAT) All proceeds will support the WPN Educational Trust to fund other deserving women who wish to pursue property-related qualifications. For more information and to reserve your seat, please visit or e-mail Nicky Chetty on

SAPOA Annual Convention and Property Exhibition 21 May 2015 Ladies’ Breakfast


SAPOA women in property

SAPOA women in property


SAPOA Annual Convention and Property Exhibition 23 June 2016 Ladies’ Breakfast


SAPOA women in property

SAPOA women in property


SAPOA Annual Convention and Property Exhibition 22 June 2017 Ladies’ Breakfast


SAPOA women in property

To be liberated, woman must feel free to be herself, not in rivalry to man but in the context of her own capacity and her personality. Indira Gandhi

SAPOA women in property


Women in Property August 2017  
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