Property sector charter launched
Thabo Mokgola
1 November 2004
Public Works Minister Stella Sigcau on Monday launched the Property Sector Transformation Charter process that will serve as a strategic framework for effective transformation in the property sector over the next decade and beyond.
Speaking at the launch in Johannesburg, Sigcau said the charter would be accompanied by a scorecard to gauge the performance of business against set targets.
"The process will help accomplish a greater sense of unity through cooperation but will also address economic and social problems associated with the property sector," she said, adding that government expected the industry to set targets to achieve the charter objectives.
"However, should this not be achieved the department will be forced to intervene in whatever way appropriate."
Sigcau said the industry had demonstrated a sense of maturity by initiating discussions to draft a transformation charter that seeks to cultivate an environment that
promotes broad-based black economic empowerment.
The charter aims to bring meaningful changes in ownership, control, skills development, employment equity, procurement, enterprise development and corporate social investment in the sector.
Sigcau said appropriate structures have been established to facilitate the widest possible involvement in the discussions and other forums.
To this end, the Property Sector Transformation Charter Committee (PSTCC) brings together all constituencies to debate and finally reach consensus on the charter drafts, said Sigcau.
She said technical teams had also been established to enable an in-depth understanding of the various focus areas of black economic empowerment and how they should apply in the context of a property sector charter.
"The Steering Committee will draw from the experiences of other sectors that have successfully launched their charters. Care will also be taken to align the property sector charter with the
construction charter and the financial sector charters, where relevant."
The final charter is expected to be launched in the second half of next year.
Source: BuaNews
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