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Jet-setting property billionaire Ngebulana's firms headed for 'financial demise,' claimant says

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Rebosis and Billion Group's Sisa Ngebulana.
Rebosis and Billion Group's Sisa Ngebulana.
Elvira Wood

Retail and commercial property giant the Billion Group and its JSE-listed real estate investment fund Rebosis are heading for the financial skids, it is claimed in court papers.

In an application pending before the North Gauteng High Court, Sandton-based businessman Zunaid Moti is seeking an order sequestrating the trustees of the Amatolo Family Trust. The trust is the major shareholder in Rebosis and sole shareholder of the Billion Group, headed up by Sisa Ngebulana.

Moti says the trust owes him R125 million for shares in Rebosis which he bought and then sold back to the trust in an off-market trade in August last year.

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