Pact aims to speed up property industry transformation
18 November 2020 | Web Article Number: ME202021316
THE Property Sector Charter Council (PSCC) has formed a partnership with business accelerator Property Point (PP) to develop and fast track the participation of black entrepreneurs in the property sector.
In a joint statement, the two organisations described the move as a “critical step” in consolidating support for small, micro and medium (SMME) businesses and bringing them into the property value chain.
In the initial phase of partnership, 50 black property businesses will be placed in the two-year programme, with the prospect of further impact through the creation of jobs, and downstream services.
The PSCC represents 25 industry organisations and associations that are members and are signatories to the Property Sector Code. In addition to the 50 businesses to be identified for the first phase, the partnership also provides for PSCC member organisations to partner up with Property Point for implementation of their enterprise and supplier development needs.
Current funding partner of Property Point are Growthpoint, Attacq, Fortress REIT, Pareto Holdings, Public Investment Corporation and SEDA.
Portia Tau-Sekati CEO of the PSCC said South Africa needed an ecosystem of support for businesses in the Property Sector. “We need to go beyond box ticking and compliance to affect purposeful and impact-based transformation.
“We understand that times are tough in the sector and will remain so for the foreseeable future, however now is the time for resetting our thinking and focus on how we build our economy and stimulate the Property Sector through supporting entrepreneurs and proving market access - leveraging on the power of collaboration,” she said.
Shawn Theunissen, Property Point’s founder described the agreement as a significant milestone which would “help drive more inclusive growth and participation in the sector as well as the broader economy”.
“The 2020 data from the B-BBEE Commission released just a few months ago, in their generic form, are clear that we are seeing low to stagnating levels of black empowerment across industries. Together with our new partners, we aim to debunk this trend and apply the tried and tested methodologies which have previously resulted in 270 black businesses becoming sustainable and profitable over the past 12 years,” he said.