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

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
0:00
play article
Subscribers can listen to this article
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.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
USD/ZAR
14.39
(-0.9)
GBP/ZAR
19.82
(-0.7)
EUR/ZAR
17.24
(-0.6)
AUD/ZAR
11.11
(+0.2)
JPY/ZAR
0.13
(-0.7)
Gold
1,736.60
(-0.5)
Silver
25.43
(+0.3)
Platinum
1,174.03
(+1.2)
Brent Crude
63.67
(+0.6)
Palladium
2,679.39
(-0.6)
All Share
67,812
(+1.1)
Top 40
62,084
(+1.1)
Financial 15
12,163
(+0.1)
Industrial 25
88,847
(+1.0)
Resource 10
69,024
(+1.8)
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
Yes, and I've gotten it.
21% - 1267 votes
No, I did not.
52% - 3140 votes
My landlord refused
28% - 1688 votes
Vote