Business Rebosis and the evaporating billionsJust five years ago Rebosis Property Fund and its founder Sisa Ngebulana were unstoppable. Lawrence Koikoi, a Stanlib property analyst, said the downfall of Rebosis’ NFP investment, due to a weak UK economy, was the biggest reason for the collapse in Rebosis’ share price. To plug its net debt of more than R10 billion, Rebosis started to sell a number of properties in May last year. Another factor that had put pressure on Rebosis’ share price and confidence in the fund was the sudden change in the company’s executive. Then, in 2010, he set up Rebosis Property Fund.

Source: News 24 May 19, 2019 16:30 UTC