The Township Retail Investment Summit (TRIS) 2024, sponsored by Nedbank Corporate and Investment Banking (CIB) Property Finance, and in partnership with Exemplar, brought together over 160 delegates at Alex Mall to explore the potential of township retail. With over R32 billion of current funding in township, rural and non-metro retail projects, Nedbank CIB Property Finance is a key player in driving sustainable development and economic empowerment.
The summit brought together key stakeholders from corporate companies, developers and entrepreneurs to explore growth opportunities in township economies. This year’s event highlighted the rising importance of township retail as a key driver for the country’s economic future.
'We are proud to support TRIS 2024 as it aligns with our core values of promoting inclusive growth and sustainability', says Vanessa Murray, Divisional Executive of Property Finance at Nedbank CIB. 'Retail in townships is crucial in addressing socio-economic challenges, and through our funding, we’ve supported the growth in townships such as Soweto, Alexandra, Tembisa, and Mamelodi. We see huge potential in the township economy and are excited about the opportunities ahead.'
Township retail has evolved from an overlooked market to a critical component of the country's broader economic growth strategy. This is reflected by strong trading densities, very low vacancy rates and increasing demand from both national and local tenants who are looking for space in these centres. Exemplar's township malls, including Alex Mall, are part of a portfolio that has seen 8.9% like-for-like rental income growth. These centres continue to drive foot traffic and act as community hubs, highlighting the sustained demand for physical retail in these areas.
'Who would have thought, 41 years ago, when we started developing in rural areas, that township and rural areas would become such a focal point for investment? Today, this sector has proven its resilience and potential', says Jason McCormick, CEO of Exemplar. 'We're thrilled to see the growing recognition of township retail and the interest from corporates. The vibrancy and energy here are unmistakable, and we look forward to seeing this event continue to grow, highlighting the opportunities in this unique and dynamic part of the economy.'
A highlight of TRIS 2024 was the Kasipreneur Competition, where township entrepreneurs pitched their ideas to industry experts. Winners, including Girl Boss Africa, Moko Originals and Afro Tribe Hair Studio, showcased the innovation within township economies. This competition, a TRIS initiative, aims to spotlight and support emerging businesses in townships by providing them with a platform to gain visibility and connect with potential investors and partners.
'The township retail economy holds immense untapped potential, and it's time for businesses to focus on finding solutions that address the unique challenges in these areas', says Stacy Saggers, Commercial Growth Director at KANTAR. 'By investing in infrastructure and empowering local communities, we can unlock real growth and create meaningful impact where it’s needed most.'
Nedbank CIB’s commitment, through its Property Finance division, to driving township retail development extends far beyond funding. With its deep sector expertise and strong partnerships, the bank continues to shape innovative retail solutions, ensuring long-term growth across these communities.
For more details go to tris.co.za.
