Laurence RappChief Executive Officer
Mike Potts Financial Director
Sedise MosenekeExecutive Director
Ina LopionAsset Management Director
BCom (Hons), Wharton Executive Programme
Laurence has extensive experience in the financial services environment, spanning investment banking, private equity, retail banking and insurance and asset management. He was previously a director of Standard Bank, having headed the Insurance and Asset Management division and, prior to that, being in charge of the Strategic Investments and Alliances division.
Appointed: 1 August 2011
CA(SA), HDip Tax Law (Wits)
Mike is a founding director of Vukile and prior to joining Vukile was an independent adviser to the Bridge Capital Group on property transactions, property portfolio assembly, financial structuring and capital raising. Before that, he was managing and fiancial director of the South African group that forms part of the UK-based Hanover Acceptances Group and was involved in the restructuring of the South African group and the introduction of effective management reporting systems and strategic planning methodologies. Michael was also a non-executive director of Hanover Acceptances Limited (United Kingdom) and Outspan International Limited for six and seven years, respectively.
Appointed: 17 May 2004
Sedise is responsible for Vukile’s Sovereign tenant sub portfolio and for jointly driving Vukile’s overall portfolio growth and transformation objectives. He was chief executive of Encha Properties from 2004 until Vukile’s acquisition of a portfolio of government-tenanted properties from Encha in 2013. He is a past president of the South African Property Owners Association (SAPOA) and is the non-executive chairman of Encha Property Services. Sedise also sits on the board of Nu-Hol Group, an upmarket residential and commercial property development and investment company. He is a member of the South African Institute of Black Property Practitioners (SAIBPP).
Appointed: 1 August 2013
BSc, University of Stellenbosch, Sanlam Executive Development Programme: Manchester Business School
Ina has 22 years' property experience and six years' life insurance experience within the Sanlam Group. She is responsible for asset management within Vukile, managing both the Vukile portfolios and the Synergy portfolio which is managed on an outsourced basis by Vukile.
Appointed: 1 January 2010
Steve BooysenIndependent non-executive director
Peter MoyangaIndependent non-executive director
Mervyn SerebroIndependent non-executive director
BCom, BProc, BCom (Hons), Stanford Executive Programme
Anton is a director and co-owner of Imalivest, an investment group. He also serves as a non-executive director on the boards of University of Pretoria, JSE Limited, Sanlam Limited and certain Sanlam subsidiaries and African Rainbow Minerals Limited. Anton has made his career in investments as a chief executive officer having led the team that built Gensec Limited into a leading South African investment banking group.
Appointed: 17 May 2004
Steve is the former group chief executive offier of Absa Group Limited. Steve also serves on the boards of Steinhoff International Holdings Limited, Clover Industries Limited, Effiient Financial Holdings Limited and Senwes Limited.
Appointed: 20 March 2012
Peter is an owner operator franchisee of the world-renowned fast foods franchise McDonald’s with whom he has seven restaurants. Previously, Peter held a senior management position with McDonald’s Corporation for 10 years. In addition to his business interest, Peter is also a director of Reach for a Dream Foundation.
Appointed: 17 May 2004
Mervyn is the former chief executive offier of Vusani Property Investments, a fully empowered privately held consortium embracing retail and offie properties. He spent 32 years with the OK Bazaars Group within which he held a number of key positions and directorships, including that of group managing director. Mervyn was integrally involved in the establishment of a South African Bone Marrow Registry after the untimely death of his son Darren of leukaemia. He is also the chairman of Reach for a Dream Foundation, a director of the Innovative Cancer Care Foundation and chairman of Syenap.
Appointed: 17 May 2004
Hatla NteneIndependent non-executive director
Nigel PayneIndependent non-executive director
Renosi Mokate Independent non-executive director
Hatla, a registered quantity surveyor, has over 25 years of experience in project management, cost engineering and contract administration. He is the executive chairman of Mvua Property Partners, a commercial property investment fim, and serves as a non-executive director of AECOM South Africa, Calgro M3 and Don Group.
Appointed: 25 October 2013
CA(SA), BCom (Hons), MBL
Nigel serves on the boards of The Bidvest Group Limited, JSE Limited, BSi Steel Group Limited and Mr Price Group Limited, where he holds the position of chairman.
Appointed: 20 March 2012
BA (Lincoln University, Pensylvania), MA, PhD (University of Delaware)
Renosi has over 27 years’ experience in the field of development economics and planning and has served in various academic and executive roles. She is a former executive director of the World Bank as well as a deputy governor of the South African Reserve Bank. She currently serves as a director of Bidvest Bank and is chairperson of the Government Employees Pension Fund.
Appointed: 11 December 2013
Johann NeethlingDirector : Corporate Services/Group Company Secretary
FCIS, M.Com , JSE Sponsor Development Programme
Johann is an experienced corporate services executive with 18 years' experience in the areas of assurance, corporate finance, governance and company secretariat. He has significant experience in the execution and implementation of corporate actions within the listed property sector. Johann is the Past President of Chartered Secretaries Southern Africa.
Appointed: June 2010
Managing and reducing the environmental footprint of our properties and having a safe and healthy workforce, are vital components of Vukile’s strategy.
During the past financial year we implemented various measures to reduce energy consumption at our properties and to increase recoveries from tenants. Some of the measures included replacing and retrofitting light fittings and motion sensors in some of the properties as per the audit reports received from the consultants. In addition we are exploring photo-voltaic technology and other energy efficient methods to manage our overall electricity consumption and costs.
We will now proceed with a second phase which continues the energy management process that was started in financial year 2013. The focus will now be on the shopping centres which are larger users of electricity, by monitoring the remote meters installed on various equipment to identify what can be done further to reduce consumption of common area electricity. Various controls will be installed to regulate the use of air conditioning, heating, fans, lighting and other energy consumption as identified.
Health and safety are of paramount importance to the group. In terms of the property management agreement between Vukile and its property managers, they assume responsibility to ensure that all properties comply with the Occupational Health and Safety Act (OHS) on an ongoing basis. In addition Vukile has retained the services of specific health and safety consultants to conduct audits on a rotational basis to ensure the highest standard of care and compliance.
Our core values are in line with being a responsible corporate citizen and we are intent on taking transformation and social responsibility very seriously by making a positive difference.
Transformation remains a strong pillar in Vukile’s critical success factors. The group led by example when it concluded a significant empowerment transformation transaction with Encha Properties effective from 1 August 2013. The transaction has been acknowledged by the sector as a landmark and field-changing deal. The uniqueness of the transaction makes it an industry first when it comes to meaningful, sustainable and value-preserving transformation.
The transaction was based on mutually beneficial and commercially acceptable terms for both Vukile and Encha. The deal not only assisted Vukile in its value enhancing growth strategy, through the acquisition of four investment-grade properties, but also bolstered the group’s management control, black ownership, employment equity and preferential procurement status.
A special purpose vehicle has been created within Encha to assist it in acquiring more Vukile units and to ensure that Vukile’s empowerment credentials are not diluted through future rights offers or issues of shares. The special purpose vehicle is designed to ensure the long-term alignment of interests between the two companies and the broader Vukile shareholders base. Other such measures include an undertaking by Encha to hold all its Vukile units for at least eight years, to grant Vukile the right of first refusal to any other Encha properties; and to offer Vukile, in the first instance, all property-related corporate opportunities in South Africa to exploit.
The composition of our board of directors and executive team has been transformed through the appointment of three new non-executive directors namely, Hatla Ntene and Renosi Mokate, and Sedise Moseneke as an executive director. Sedise will be responsible for driving the overall transformation strategy of Vukile in line with the Property Sector Charter guidelines in addition to the asset management of the portfolio acquired from Encha.
A permanent transformation sub-committee has been established and comprises members of the executive team, property managers, asset managers and verification agencies. Sedise Moseneke is responsible for the performance of the transformation sub-committee. Its main purpose is to implement, monitor and enhance Vukile’s transformation platform and strategy. A world-class, modern and technologically advanced IT analysis toolkit has been acquired to further assist in accurate and reliable outcomes.