South Africa: Thavhani Mall showcases economic opportunities

South Africa: Thavhani Mall showcases economic opportunities

<h3>Thavhani Mall in Thohoyandou may be a regional shopping centre, but it has been created with its community at heart and carefully planned to have substantial and meaningful benefits for its local economy.</h3>

The almost 140 stores will open on 24 August to become the largest shopping centre in the growing town of Thohoyandou, it will also launch significant economic opportunities for local people and businesses.

From day one, Thavhani Mall has been a local initiative. Seven years ago, local businessman Khosi Ramovha of Thavhani Property Investments had the vision for a regional mall in Thohoyandou. To achieve the vision, this local owner partnered with leading South African shopping centre developers and investors, Flanagan & Gerard Property Development and Investment, which secured the co-investment of JSE-listed retail REIT Vukile Property Fund.

“Thavhani Mall’s founding vision was inspired by the extremely positive impacts a large mall can have on its community. This foundation has ensured the golden thread of community runs throughout all areas of the initiative. We have gone to great lengths to invite and enable local participation in the mall,” says Ramovha.

With opening preparations under way, the mall’s focus on being an economic asset for its local community has become clear in its service provider selection, tenant mix and retailer employment initiative

“As part of our local stakeholder outreach we pass on numerous opportunities at Thavhani Mall to the TBF, which then distributes the opportunities to their stakeholders,” explains Paul Gerard from Flanagan & Gerard Property Development and Investment.

“There is virtually infinite demand for a finite number of job opportunities. Looking at these numbers, every job that is created is needed and makes a difference. The mall is having a very real positive impact with the jobs it has created. We have also made it very clear to the mall’s retailers that they need to ‘employ local’,” emphasises Gerard.

“Thavhani Mall will be a significant boost to the local economy and its future. It will also offer the community the biggest and best selection of shopping and leisure options in a mall they can be truly proud of,” concludes Gerard.

Source: BizNis Africa

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