Protea Glen Mall: flight of a fine entrepreneur Mike Nkuna

The launch of the R360m Protea Glen Mall in Soweto last month represented not only the critical redirection of the country’s financial resources into the historically red-lined black areas but an important milestone in the development of a fine black entrepreneur, Mike Nkuna.

Through a vehicle called Masingita Properties, Nkuna has shattered the racialised glass ceiling that has marked South Africa’s commercial property industry.

South Africa’s commercial property industry carries value estimated around R780bn, a significant portion of which remains in the hands of white investors. An indication of black representation in the commercial property industry can be taken from the JSE’s listed property sector where direct black ownership remains far below the 10%. The JSE listed property sector is valued around R200m and can be considered to command better empowerment credentials.

A few black investors have entered the investment property game in the past few years but are still scratching the surface in the broader scheme of themes. These will include Sisa Ngebulana who has carved the Billion Group into a mainstream commercial property player and has spun out a JSE listed property portfolio. Other names are Saul Gumede of Dipula Properties and offcourse the infamous Roux Shabangu.

Nkuna has thus far built an investment property portfolio in excess of R400m which has a bias towards historically marginalised areas. His story dates back to the 1980’s and as such is an entrepreneur that has stood the test of the apartheid time. He did manage to adapt into the post 1994 era where politically activists switched into business and crowded out many black businessman of the pre 1994 era

Nkuna has been involved in various business sectors in what is now consolidated into an entity called the Masingita Group of Companies. This entity has a trail dating back to 1983. In 1989 Nkuna ventured into property development, construction and property management with a focus on black townships and rural areas. A statement by the company says the group “prides itself for with achievement of reversing the demeaning trend of substandard rural development and restoring the dighnity of black communities through the development of commercial infrastructure. . Since establishment the group has developed six commercial properties on its own and another four in partnership with Nedbank.

The Nedbank connection has flourished and is responsible for the delivery of the Protea Glen Mall. Protea Glen Mall is poised to capitalise on the rapidly developing middle income residential area of Protea Glen in Soweto which some experts have referred to as the “fastest growing suburb in the country”.

The centre houses more than 90 shops, including popular retailers such as Shoprite, Pick n Pay, Truworths, Edgars, Markhams and Clicks. Merchandise in the stores is of an upmarket nature which suits the more affluent status of the area. All the major fast food chains are represented in the centre including KFC, Macdonalds, Debonairs and Steers, as well as the major banks, Post Office, and cellular phone service providers.

In a statement released by the Nedbank recently, the bank said it funded through loan the Protea Glen Mall to the tune of R255 million and has also taken equity in the development. The Nedbank/Masingita connection is also responsible for the delivery of the Bara Mall, Diepsloot Mall Masingita Mall in Giyani and the acquisition of the Jabulani Mall which is also located in Soweto.

Outside the Nedbank fold Nkuna has also developed the Mangalani BP and retail centre, Masingita Plaza (retail development in Giyani), Sindowanye (copper recycling facility in Germiston) and the War College (South African National Defence Force accommodation and facilities in Pretoria).

  • Hi! my name is A
    I am just asking to meet mike nkuna but i don’t know what can i do to finally meet him so could you kindly assist me with some some information

    Note from the editor.
    This reader has provided full identity and contact details but we have withheld them as guided by our policy on such comment. As such if you can assist this reader you will have to via ujuh.co.za

  • Tatana Nkuna M xana Malamulele yi ta va na Mall wa kahle rini naa

  • Nikombela ti personal contact details ta tatana Nkuna.

  • Require a position in Project Management or Customer Service Management. @ Masingta Group of Companies . I am presently working for Telkom SA.

  • tatana nkuna hi lava filling station e maleria

  • Hello. My name is Winnie Makamu. I’m 23 years old and I’m a goal driven person. Caan I kindly set an appointment to meet with Tatana Nkuna, my contact details are writen below ….
    Inkomu

  • Dzunisani Judas Baloyi

    Eka Tatana Nkuna.Ni rhandza kuhoyezela development leyi minga eku yi endleni eGiyani, Soweto na tindhawu tin’wana.Xikombelo xa mina hileswaku mihi akela mall eka Malamulele.

  • Mr Nkuna you r simple the best

  • albert rikhotso

    Tatana Nkuna loko ndzi lava ku sungula bindzu ra logistic ra titiraka ndzi ngari sungul anjhani xo sungula mali ndzi kuma njhani yo sungula bindzu
    Inkomu

  • I had the opportunity to meet Mr Michael nkuna today addressing a group of youths. What a generous and humble man.im motivated.

    1. HI, Brain

      I am Martin from Mokopane, i hope you had a wonderfull time meeting the Great Man like Mr Nkuna.I am kindly looking for his contact details.I am looking forward to meet him to get some advice in property development around my area.

      Best regards,

      Martin

  • Eka tatana Nkuna. Khomisani sweswo. Burisanani na masipala wa Giyani. Nhluvuko awu yi amhlweni hi hala tlhero ra khale ka xibedlele xa Nkhensani

  • Mr nkuna. Ni nkhensa ngopfu mintirho ya nwina leyo saseka. Mina ni turha a ctm Thohoyandou as a store manager. Can u please give my contacts to your project manager or architects responsible in your properties. I need to offer the tiles deals for your building including. Maintenance. Contact details 0840215992

  • afternoon Mr Nkuna after going through you profile I got inspired as an urban planning student. I found you worthy to be a good mentor. therefore im asking for your help in this.I need a mentor to help me towards my dream. my cell no is 0793875568

  • After meeting Tatana Nkuna a humble God fearing hero when studying with his twin sons I felt honoured. Tatana you are our country’s pioneer business man we youth take inspiration from your work, May the mighty lord locate & cover you with his grace to give you strength to keep doing the best for our community, xekwembu xi mi’nike mekateko

    With Respect,
    Letlhogonolo

  • kulani merlot mahomane

    I’m honoured to know that we do have Vatsonga who are successful and making it
    Out there,is because of people like you that makes us want to go forward with our dreams and for me I really found an inspiration.you inspire me so much I wish one day I can be like you I really want to build a park that is having all kindly of games where people can relax and have fun you inspire me I know I can do it because you did it thank u for your unconditional love to the people your really a saint to me your an angel you give me hope as I’m a teenage and still have my whole life ahead of me thank you

  • CAN YOU PLEASE ASSIST ME WITH THE PERSONAL CONTACT DETAILS FOR TATANA NKUNA
    THIS CAN MAKE MY DREAM COME TRUE PLEASE

  • MR Nkuna I m proud of you you proofed that nothing is impossible more especially to black people.le rena rele ma Africa rea kgona.you are a good example PAPA NKUNA.kgotso e le atele

  • all people who need personal contact of mr nkuna call me on 0788766158

  • I also one of those who want to meet Mr Nkuna to get the information about the town development or land development

  • It is very motivating to see how Mr Nkuna have build his empire, I would like to meet well experienced people Mr Nkuna. I really believe that with your advice and guidance south Africa can have young business generation.
    You are really a Good example and a role model to us as New generation Mr Nkuna.

    I wish you many days on this earth.

  • Hi mina Derrick Sithole nilava Tatana Nkuna. Valungu va mina vana company leyi yinga le ku mbombeme leni mara va lava funding. Avana Bee

  • Good day Mr Nkuna

    Am a young man with ambitious who’s willing to open a small plumbing company. I have an Experience in faculties. Specializing in plumbing and other maintenance duties. I have more than 10years and I will appreciate for you assistance.
    If even in Giyani if there’s a space for plumber am willing to go an work therein now am working in Feenstra group on facilities
    Thanks Joseph

  • Dear Mr Nkuna

    My name is Matsietsi, I have five years experience in office Administration. I wish to set an appointment and meet with you.

    Should you wish to contact me my number is 073 472 9548.

    Your assistance will be highly appreciated.

    Regards
    Matsietsi

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