Retail property is one of the clearest windows into South Africa’s real economy — and few people see the picture as clearly as Itumeleng Mothibeli, MD South Africa at Vukile Property Fund. Fresh off hosting Vukile Tenant Day, Itumeleng joins Kaya Biz to unpack what tenant behaviour is revealing about business confidence, consumer stress, and the shifting dynamics across township, commuter, urban and rural malls. He breaks down rising cost pressures, rental affordability challenges, right‑sizing trends, and the green shoots emerging in high‑density retail nodes.