Ascension Properties: Tsundzukani Mhlanga

Tsundzukani Mhlanga has been the Financial Director of Ascension Properties since 18 January 2016.

Tsundzukani Mhlanga is a qualified Chartered Accountant (SA) with an MBA from the University of Cape Town’s Graduate School of Business. She completed her Financial Management articles (TOPP) at Edcon Holdings Limited and in 2009 joined Pembani Coal Carolina Propriety Ltd, where she held the position of Finance and Procurement Manager. 

Prior to joining Ascension, Tsundzukani was acting Chief Financial Officer of Alexkor SOC Ltd. She served on various board subcommittees, and oversaw the finance, procurement and risk management functions of Alexkor as well as its joint venture operations. She was appointed Financial Director of Ascension Properties in January 2016. 

2016 – Present    Independent Consultant
2016 – Present    Financial Director, Ascension Properties
2014 – 2016         Acting Chief Financial Officer, Alexkor SOC Ltd
2014                       Group Manager: Finance, Alexkor SOC Ltd
2012 – 2013         Chief Financial Officer, Alexkor RMC JV
2009 – 2011         Finance and Procurement Manager, Pembani Coal Carolina                                        (Pty) Ltd
2006 – 2009         TOPP Trainee, Edcon

2013 – 2014         MBA, University of Cape Town
2004                       B. Com, Accounting, University of KwaZulu-Natal
1999 – 2001         B. Com, Accounting Science, University of Pretoria 

About Ascension Properties Ltd: Ascension Properties Ltd was founded in August 2006. It is a black-managed and substantially black-owned property loan stock company listed on the JSE. The company is a property income fund, focusing on commercial office buildings in South Africa, with a strong focus towards government and other empowerment sensitive tenants. 

The fund converted to a Real Estate Investment Trust (REIT) in line with the new REIT legislation in June 2013 and its capital structure consists of A and B Linked Units. Each Unit consists of one share and one debenture. 

Ascension Properties Ltd reported a revenue of R533.595 million in 2016.