Property hurdles loom for black entrants, says SAIBPP

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True black empowerment in the property sector is still rare, says Nkuli Bogopa, President of the South African Institute of Black Property Practitioners (SAIBPP). True black empowerment in the property sector is still rare, says Nkuli Bogopa, President of the South African Institute of Black Property Practitioners (SAIBPP).

The traditionally white male property industry is far from a true reflection of South Africa’s demographics, judging from the number of blacks participating.

True empowerment in the property sector is still rare, Nkuli Bogopa, President of the South African Institute of Black Property Practitioners (SAIBPP) told SA Commercial Prop News in a telephonic interview on Friday Last week.

She explained that one of the biggest questions for blacks wanting to work in the property business is whether the industry dominated by white males will award them contracts.

According to statistics from the Royal Institute of Chartered Surveyors (RICS), about 70% of world wealth comes from real estate. In Africa and South Africa where economic development is a priority, the property sector can be a driver of the growth that is needed, explained Bogopa.

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However the majority of the population, about 80%, is excluded from this sector. “This does not create an equitable economy,” she said. We need inclusion and transformation to create an equitable economic environment, she explained.

From the barriers to entry faced by young people from disadvantaged backgrounds in becoming estate agents – a profession perceived to be lily-white – to the difficulties black people face when trying to enter into property development, the problems are manifold.

But, according to some in the industry, change is happening, albeit slowly.

The upcoming 2016 SAIBPP Annual Convention will provide a much-needed platform for professionals within the South African property industry to not only network and share information but to also engage in meaningful dialogue around transformation within the industry.

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The overall theme will be underpinned by the robust interrogation of topics including land reform, property ownership, public sector transformation policy and sustainable economic development.

The second day of the conference will address the ‘Land Issue’.

The 2016 SAIBPP Annual Convention speakers and panellists include a range of key industry stakeholders and decision makers from public and private sector, and funding institutions, such as Paul Serote, Head of Property Management Trading Entity; Kevin Roman, CEO of Mowana Property Group & COO of Pareto Limited; and Boni Muvevi, Gauteng Partnership Fund, CEO.

“This year marks SAIBPP’s 20th Anniversary and we believe that it’s time for honest reflection on the slow pace of transformation in SA, and our industry in particular. This conference represents a strategic, practical and solutions-orientated  approach to dealing with the current challenges facing the various stakeholders in the property sector. For instance, beyond legislation, what practical interventions do we now need to apply in order to see radical transformation in the property sector,” says Bogopa.

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She says property and/or land ownership is one of the key foundations of wealth creation and the basis upon which our currently stagnant economy will be rebuilt.

"The industry is valued at R5.8-trillion according to Property Sector Charter excluding the value chain and associated services. Black people are still largely excluded from the entire value chain which is unacceptable and unsustainable 22 years into our democracy,” she added. 
 
The SAIBPP Awards dinner will wrap up the 2-day programme where industry professionals, will once again honour property industry leaders that have excelled in their respective disciplines and companies that have succeeded in demonstrating a commitment to transformation. This year will see the introduction of a new award category honouring excellent academic achievement.

“The theme of this year’s Annual Convention will therefore, open up a strategic dialogue about the specific interventions that are required to achieve radical transformation in the property industry in the next 20 years,” she said.

Read more on:

Property Sector Charter Council  |  Kevin Roman  |  SAIBPP  |  Nkuli Bogopa  |  Paul Serote  |  Boni Muvevi
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