CEO MONTHLY / GLOBAL CEO EXCELLENCE AWARDS 2017 35 Natal University, and an LLM Master’s Degree from RAU. I did my articles with Jan S de Villiers Attorneys in Cape Town and I was admitted as an attorney of the High Court, where I specialised in commercial litigation matters. “Prior to my role at Rebosis, I founded Billion Group, some 19 year ago, which is an award winning 100% back owned property development and investment company. Billion Group specialises in retail, commercial and mixed-use developments located in major South African cities and has developed well-known shopping centres like Hemingways Mall, Mdantsane City Shopping Centre, Forest Hill City Shopping Centre and more recently Baywest Mall and BT Ngebs City Shopping Centre. I have also worked for Eskom as the senior to chief legal adviser for a period of seven years, then corporate consultant. During this time, I specialised in property, financial and engineering legal disciplines. I joined one of my clients in Eskom Treasury and ultimately traded money markets and capital markets. I also headed up project and structured finance. It is through this experience over the years that made me deal and find solutions to complicated commercial matters and financial market exposure. I left employment and started my own business developing homes. Once I had built up a balance sheet, I started acquiring commercial property and eventually developed large regional shopping centres in South Africa. “In running my business, I was CEO from running a small entity with no balance sheet and built it up to listing and eventually to what it is today. My exposure to complicated commercial matters and financial markets structuring transactions remains indispensable in the day-to- day running of this business in my role as CEO. I understand that, before undertaking any project, you need to do your homework properly. I research the needs of my potential clients, the personalities involved and experiences in engaging a similar service to what I give. “Additionally, in development projects, you undertake rigorous market research before you commence with the development of a shopping centre. In doing this you highlight potential risks and mitigating actions from a planning perspective. On acquisitions, we conduct thorough due diligence investigations of the buildings, the structure, mechanical, fire compliance, lease agreements, etc. more so on retail as we focus on trading performance, trade densities, footfall, growth and optimal tenant mix.” With regards to Rebosis, currently the firm has a number of ongoing projects which are helping drive it to success, as Sisa discusses. “My ongoing strategy is that of growth of income and quality of assets, which is a hard combination to find. In the current financial year, Rebosis concluded a landmark transaction with Billion Group for the acquisition of two dominant regional shopping malls, and management companies that effectively internalised all Rebosis management with 226 staff members. The business is currently positioned as a retail focused fund consisting of large dominant shopping malls that enjoys a sovereign underpin on its commercial portfolio. “The Portfolio has enviable property assets that are of a superior quality and that are well looked after internally. Our business is staffed with experienced and highly skilled management teams with in depth knowledge of the business. We also have ensured that the business is on sound footing with systems, processes and well-defined accountability and reporting structures. “To continually achieve excellence, I have always surrounded myself with competent people who challenge me as I do not settle for mediocrity. I have always looked for and found people with my same drive and we make sure that we keep pushing each other to greater heights.” The fund has overcome many challenges to achieve the success it enjoys today, thanks to Sisa’s leadership. He discusses his biggest challenge and how he worked to prosper despite this. “The biggest challenge has always been to try make and keep the largest investors happy given their divergent views and focus. Most were sceptical analysts that lack experience and base their views on their own spreadsheet outcomes. I have found opportunities in most challenges and more than regular interaction with shareholders and analysts proved critical to my success, more so when faced with competitors who thrive on criticising anything that would make them look good. “Recently in the acquisition transaction with Billion Group, I experienced massive pushback from analysts as they questioned whether I was the buyer and the seller (having developed the assets under Billion Group and Billion Group then selling the assets and the management business to Rebosis). There was a lot of enmity in the market, distrust and unwarranted negative publicity. It took a toll on me as competitors, sceptics and some analysts worked tirelessly to sabotage the process. I worked hard and went straight to my Board and shareholders to build back their trust and I ended up in a stronger position than when the whole transaction started. Six months later, we concluded the transaction with 88% shareholder approval, which is exceptional. It was just one more lesson on that perilous role to leadership success and the journey was worth the price.” As he looks towards the future Sisa has a number of invigorating developments planned for both himself and the fund which he shares with us in his concluding comments. “Looking ahead at Rebosis, our future aspirations are to continue to build on the success path of the Rebosis assets and improving quality of existing assets and income. This could include possible takeovers of other listed property funds such as the recently concluded takeover of Ascension Properties Limited by Rebosis, which took two years to conclude. “With regards to my own career, considering that I run two roles as CEO of Rebosis and Billion Group, I will be retiring as CEO of Rebosis with effect from 30 September 2017. This will allow for a smooth hand over for the next four months to the newly appointed CEO, Mr Andile Mazwai. Rebosis has grown into a very large fund and it has become necessary to have a full time CEO to drive growth aspirations. I have accepted an invitation from the Rebosis Board to take up the position of non-executive Deputy Chairman, effective from 1 October 2017. “Therefore, overall, I will be focusing on my role as Chairman of New Frontier Properties, Deputy Chairman of Rebosis and Executive Chairman of Billion Group. Having been the founder of these companies, operating at a higher level will enable me to have a far greater impact on strategy and focus from a helicopter view without the day-to-day management stresses and activities. This will in turn allow me to draw on my previous leadership successes and positively impact and guide leadership activities of these entities. Alongside this, I also intend to focus on other macro leadership matters affecting society and my philanthropic activities. All of this provides many great opportunities for both myself and Rebosis.” Photo credit: Devin Lester Photography Contact Email:
[email protected] Address: 3rd Floor, Palazzo Towers West, Montecasino Boulevard, Fourways, JHB, South Africa Phone: +27 11 511 5335 Web Address: www.rebosis.co.za