30 April 2007By Nick Wilson

Akhona Properties, 100% owned by black women, is changing direction and repositioning itself as a property investment company.

The small company has earned a solid reputation as a property manager over the past few years but recently sold its standalone property management business to Broll Property Group, one of the big local names in the field.

Akhona also acquired a 25,1% stake in Broll. Its joint venture property management business with Broll, called Akhona Broll, still exists and manages a R1,5bn property portfolio.