Mike Nkuna
Mike Nkuna Biography
BornMichael Khazamula Nkuna
Known forBeing a businessman

Michael Khazamula Nkuna is an award-winning South African businessman.

Background

Mike Nkuna grew up herding cattle and later worked in his father's butchery in Soweto.[1]

Businesses

Mike Nkuna is the Executive Chairman and founder of Masingita Property Investment Holdings (grounded on real estate, real estate management, property investment and investment holdings). He is a pioneer developer of property in previously disadvantaged areas.[2] In July 2021, Nkuna's Bara Mall, Protea Glen Mall and Jabulani Mall were among those that were damaged in the unrest which started in KwaZulu-Natal and spread to Gauteng, hitting Soweto, Vosloorus, Mamelodi and Katlehong the hardest.[3] In July 2021, Nkuna's commercial property portfolio in the township was estimated at over R2-billion. His business empire survived the volatile 1976 uprising.[4]

Nkuna's Masingita Group of companies owns:

  • Masingita Shopping Centre - Giyani
  • Aeroton Convenience Centre - Nasrec
  • Masingita Plaza - Giyani
  • Mangalani Convenience Centre - Soweto
  • Mangalani Convenience Centre - Giyani
  • Mangalani Shopping Centre - Malamulele
  • MotorTown - Giyani
  • Bara Mall - Soweto
  • Jabulani Mall - Soweto
  • Masingita Mall - Giyani
  • Diepsloot Mall - Diepsloot
  • Masingita Towers - Sandton
  • Protea Glen Mall - Soweto
  • Makhado Crossing- Venda

Mike Nkuna also acquired franchises in various retail and filling stations brands and operates these facilities:

  • Exel Garage - Malamulele
  • Shell Garage - Giyani
  • Sasol Garage - Bosworth, Alberton
  • BP Garage - Soweto
  • Shell Garage - Soweto

He is also a shareholder and director of the following companies:

  • Xisaka Investment and Trading (Pty) Limited.
  • Sindawonye Granulators and Processors (Pty) Limited.
  • Leopont 299 Properties (Pty) Ltd.
  • Masingita Property Investment Holdings (Pty) Ltd.
  • Vlaming (Pty) Ltd.
  • Illungile Consulting Services.
  • AuctionInc (Pty) Ltd.
  • Periscopic Masingita (Pty) Ltd.
  • Marble Group which owns VW and Audi Centre Polokwane.[5]

Net Worth

While Nkuna's net worth is unknown, his Protea Mall was valued at R700-million while his Jabulani Mall was worth an estimated value of R1.4 billion in July 2021.[4]

Awards & Honours

The University of Johannesburg conferred a Philosophiae Doctor honoris causa on Mike Nkuna. He was conferred with the Honorary Doctorate on the basis of his outstanding contributions as one of the most successful commercial and retail property developers in South Africa.[2]

References

  1. Soweto's modest mogul, DRUM, Published: July 28, 2017, Retrieved: August 20, 2021
  2. 2.0 2.1 Nkuna, Khazamula Michael (Honorary Doctor of Philosophy), University of Johannesburg, Published: No Date Given, Retrieved: August 20, 2021
  3. Poloko Tau, Property tycoon Mike Nkuna determined to have Soweto malls operating within two months, City Press, Published: July 26, 2021, Retrieved: August 20, 2021
  4. 4.0 4.1 Tshepo Mongoai, Soweto businessman Mike Nkuna disappointed after two of his malls vandalised during unrest, SABC News, Published: July 14, 2021, Retrieved: August 20, 2021
  5. [https://m.facebook.com/billionairementorsa/photos/a.373911149692250/690235648059797/?type=3 Billionaire Mentor], Facebook, {ublished: April 9, 2019, Retrieved: August 20, 2021