Property mogul Mike Nkuna addresses rumours of Kaizer Chiefs takeover bid

Property mogul and Kaizer Chiefs board member Dr Mike Nkuna has addressed rumours suggesting his intention to purchase the club.

Nkuna, a prominent South African businessman, sits on the club’s board. Recent rumours suggest a potential takeover and change of ownership structure.

However, Dr Nkuna has refuted these claims, stating he has no intention of taking over ownership and dispelling talk that he plans to bring in new players and management.

Nkuna’s denial comes at a time when the club is struggling for consistency regarding results. Chiefs parted ways with head coach Molefi Ntseki earlier this season. The club is currently searching for a replacement to lead them forward.

Cavin Johnson is currently holding the fort as interim coach and oversaw their recent exit from the Nedbank Cup.

The Soweto giants lie seventh on the DStv Premiership table, with 29 points and 17 points behind leaders Mamelodi Sundowns, effectively ruling them out of the title race.

It stretches their trophy drought to nine years, with their last trophy being the 2014/15 PSL title. While Dr. Nkuna remains dedicated to his role on the Kaizer Chiefs board, his primary focus lies in property development.

DR MIKE NKUNA’S FULL STATEMENT ABOUT KAIZER CHIEFS RUMOURS

“It is regrettable that the current statements circulating on social media referencing to intentions by Dr Mike Nkuna to purchase Kaizer Chief are false. He has expressed his reluctance for any administration [role] of the Kaizer Chiefs F.C., thus refuting the assertion to bring in players and new management.
“Noteworthy Dr Nkuna remains a committed board member of Kaizer Chiefs F.C while his primary focus is on property development.”

Dr Nkuna founded Masingita Group of Companies, a 100% progressive black-owned company specialising in property development, construction, and asset management.

Under their property portfolio, they have Jabulani Mall and Protea Glen Mall in Soweto, Masingita Plaza and Masingita Mall both in Giyani, Mphephu Plaza in Siloam, Morena Mall in Mmabatho, Makhado Crossing in Makhado, Stimela Crossing in Barberton, Mpumalanga.

They also own Masingita Crossing in Malamulele, Zebediela Plaza in Zebediela, Boitumelo Junction in Welkom and Nkuna Kraal in Nkuzana.

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