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Title:

Property Sector Transformation Charter

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the significance of the property sector in SA economy; that the sector ... The Property Sector Transformation Charter Indaba was held ... with sound business ... – PowerPoint PPT presentation

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Title: Property Sector Transformation Charter


1
Property Sector Transformation Charter
  • Portfolio Committee Presentation
  • 14 September 2005

2
INTRODUCTION
  • Recognising
  • the transformation developments in other sectors
  • the significance of the property sector in SA
    economy
  • that the sector needs to transform and
  • the challenges faced by the sector in achieving
    broad base economic empowerment
  • In line with Governments BEE Strategy, the
    Property Stakeholders initiated a transformation
    process which was launched by the Minister by end
    of 2004.

3
Process
  • Steering Committee made up of all stakeholders
    (public and private sectors)
  • Exco management of the process
  • Technical teams technical drafting
  • Administration day-to-day affairs.

4
CONSULTATION PROCESS
  • Representative of the EXCO have been on road
    shows to present the draft charter, and hear
    concerns of stakeholders in the provinces.
  • The Property Sector Transformation Charter Indaba
    was held in Gauteng as part of a continued
    campaign to consult with stakeholders.
  • A steering committee meeting on regular basis to
    get agreement of the framework and scorecard.

5
Framework document
  • Preamble
  • Challenges facing the property sector
  • Objectives of the Charter
  • Application and governance
  • Elements of the Framework
  • Regulatory issues
  • Gender transformation
  • The scorecard
  • Definitions

6
Elements of the scorecard
  • Ownership
  • - Voting rights
  • - Economic Interest
  • Control
  • Employment Equity
  • Skills Development
  • - skills spend
  • - learnerships
  • - mentorships

7
Elements of scorecard (contd)
  • Procurement
  • Enterprise Development
  • Residual
  • - CSI
  • - Development in under-developed areas
  • - Gender transformation policy (Ministers
    comments)

8
Scorecard
  • Ownership
  • Control
  • Employment Equity
  • Skills Development
  • Procurement
  • Enterprise Development
  • Residual

9
Issues
  • Targets are valid for 5 years.
  • Review progress after 3 years
  • Consistent with sound business practice.
  • First reports to be produced year ending 31
    December 2006.
  • Submission 31 March 2007

10
Way Forward
  • Charter document submitted to Minister
  • Minister sent document back with comments for
    reconsideration by stakeholders
  • Submission to DTI
  • Cabinet approval
  • Gazeting as Code of Good Practice
  • Establish Charter Council

11
THANK YOU
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