B-BBEE Commission reveals property sector transformation challenges

THE Commission on Broad-Based Black Economic Empowerment (B-BBEE) has expressed concerns about the lack of transformation in key areas of the property sector.

- THAMI MAGUBANE [e-mail]

A study by the commission titled “South Africa's Transformation Landscape 2013-2023” has found that the sector is lagging behind in several indicators of transformation on the B-BBEE scorecard.

The study tracked macro and sector compliance trends and progress across key B-BBEE elements such as ownership, management, enterprise/supplier development, skills development, among others, over the sample period 2013-2023.

Its concerns are shared by black business leaders who are calling for a more interventionist approach by the government to transform the sector. They warned that without a more “direct approach”, the sector, particularly private property development, is unlikely to transform.

Tshediso Matona, the B-BBEE commissioner, tabled the study during a meeting held in Durban on Saturday. The meeting examined what has been achieved by the policy and identified shortcomings and the future of this policy.