Akani Properties unveils R500million shopping mall in Zeerust, North West Province

For immediate release

Attention: News Editors

In Zeerust today – 9 November 2023 – Akani Properties, a black-owned and managed property development, management and investment company announced the official unveiling of a R500 million Autumn Leaf Shopping Mall in the Ramotshere Moiloa Local Municipality, in the transit town of Zeerust, North West Province.

The 18000m2 Autumn Leaf Mall, which opened its doors to the shoppers on 26 October, has major retail tenants such as Checkers, Mr Price, Truworths, PEP, Clicks and major banks such as Capital Bank and others – within a short travelling distance for the locals who had to travel to either Rustenburg or Mafikeng to access premium brands.

This shopping mall development, which includes a taxi rank and a fuel station, by Akani Properties in conjunction with the Municipal Employees Pension Fund, is a first phase of a mixed-use property development that will include a hotel and a private hospital. The development will transform Zeerust into a bustling transit town and economic node on the border between South Africa and Botswana.

With a total project budget of R499million, the mall development procured materials from local suppliers and employed local SMMEs and local labour. The total procurement spend was about R70 million on civils contractors, a local labour spend running into millions of rands and close to 500 jobs were created during the duration of the project.

The launch ceremony was attended by local and provincial dignitaries including the North West MEC of Economic Development, Virginia Tlhapi, Cllr Dinah Pitso, Executive Mayor of the Ramotshere Moiloa Local Municipality, local business leaders, traditional leaders and more than 500 local community members.

In her keynote address, Virginia Tlhapi, the North West MEC of Economic Development said, “The N4 road and Botswana border remains Ramotshere Moiloa’s important competitive advantage which should be harnessed through continuous infrastructure development and diversification”.

She urged the local municipality to continue to exploit the linkages created by the capital city Mafikeng which houses government administration and Rustenburg which is the mining mecca of the province and Zeerust is straddling the two and will continue to benefit economically.

This new retail centre will serve the greater Zeerust area that includes townships such as Ikagaleng, retail travellers from Gaberone in Botswana and those travelling to and from Namibia.

Akani Properties Chairman, Zamani Letjane said, “We are excited to add Autumn Leaf to our growing portfolio of retail assets in South Africa. Investing in peri-urban towns such as Zeerust is in line with the investment thesis of our client, the Municipal Employees Pension Fund which believes that peri-urban towns such as Zeerust present growth opportunities and will stem the tide of migration to big cities and contribute to job creation and economic growth in this largely rural province of North West.”

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Issued by Aphinko Consulting, a strategic communications company on behalf of Akani Properties. For all media queries, please contact Salmina Kgaje on Cell: +27 62 327 8894 or Email: salmina@aphinko.co.za