KwaZulu-Natal Human Settlements and Public Works MEC, Jomo Sibiya, says despite legislative and policy interventions to eradicate inequalities in ownership of property, in practice, skewed patterns of ownership, participation and benefit remain.<\/p>\n
\u201cBlack people continue to be significantly under-represented in ownership of property, whilst administrative, legal and financial constraints restrict the ability of black people to participate in the property market,\u201d Sibiya said.<\/p>\n
The MEC was presenting a progress report on the department\u2019s Programme of Action focusing on transformation of the property sector on Thursday.<\/p>\n
Sibiya noted that commercially, direct property ownership is dominated by institutional investors; large private owners; collective investment schemes; property loan stocks; and listed property entities, with government being the largest commercial player.<\/p>\n
\u201cThe commercially driven activities surrounding property, including development, management and sales, rests largely in white-owned hand\u2026.we are here today to proclaim our determination to change the status quo,\u201d Sibiya said.<\/p>\n
Sibiya said for the next 365 days, transformation of the property sector will be on top of activities and focus for him and the provincial department.<\/p>\n
\u201cIn discharging our responsibilities regarding the management of immovable assets, we will use our procurement spend\/budget to fast-track the entry of those who have been previously marginalised into this sector.\u201d<\/p>\n
According to the figures of the landlord out of 178 leases, there are 79 Indian leases; 37 Whites; 15 Black Africans; 08 Whites\/Blacks (partnership); 08 Whites\/Blacks\/Asians (partnership); 01 other organs of states; 05 Non-Government Organisations (NGOs); 01 Technical and Vocational Education and Training (TVET) college; and 24 municipalities.<\/p>\n
\u201cThe 15 Black Africans who have leases with government \u2013 14 are males and only one female. We are saying as South Africans and the people of KwaZulu-Natal, this is not what we see continuing. If we fail to work collectively to change these figures, we will be accused of prolonging the suffering of the people of this province, especially those who have endured the impact of the apartheid policies,\u201d he said.<\/p>\n
Property Transformation Task Team<\/p>\n
As part of changing these figures, the department has established a dedicated Property Transformation Task Team, including members drawn from government departments such as the Office of the Premier, Economic Development, Tourism and Environmental Affairs, as well as the Provincial Treasury.<\/p>\n
The MEC said the Head of Department has been mandated to ensure representation of stakeholders, including NGOs; civil society; youth formations; people with disabilities; Small, Medium and Micro Enterprises (SMMEs); co-operatives; community property associations; industry bodies; and the private sector at large.<\/p>\n
\u201cWe are planning ongoing consultations with all spheres of government [including] national and municipalities because we want a clear development trajectory for taking our province to a better future. My message to the task team is based on the principle of \u2018One Strategy and Plan for All.\u2019<\/p>\n
\u201cWe are aiming at ensuring an agreed set of objectives and targets, [and] want to ensure that there is a common platform for all. We want to see the resource commitments of departments, municipalities and public entities in order to achieve true transformation of the property sector,\u201d he said.<\/p>\n
The department wants to reach agreements on a monitoring, evaluation, reporting and review framework which will track its performance, and be hold accountable to deliver on the commitment.<\/p>\n
Enterprise development<\/p>\n
Sibiya said the department is also determined to increase the number of SMMEs and co-operatives in the property sector, and undertakes to ensure sustained support for entrepreneurial development in the sector.<\/p>\n
\u201cWe will work with the private sector in this regard and other industry bodies. We are already exploring ways and means of working with companies in the private sector to ensure that a certain percentage of their net profit before taxation is used for [the] development of small players.\u201d<\/p>\n
The development of small players may include any or all of the following:<\/p>\n
\u2022\tManagement, business development and technical skills transfer;<\/p>\n
\u2022\tTechnology transfer, establishment of administrative systems,<\/p>\n
\u2022\tCost control systems and infrastructure support;<\/p>\n
\u2022\tDevelopment of entity credit resources with suppliers; and<\/p>\n
\u2022\tDevelopment of entity financial capacity and\/or financial assistance. <\/p>\n<\/p>\n
Source: South African Government News Agency<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"
KwaZulu-Natal Human Settlements and Public Works MEC, Jomo Sibiya, says despite legislative and policy interventions to eradicate inequalities in ownership of property, in practice, skewed patterns of ownership, participation and benefit remain.\u201cBlack …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"yoast_head":"\n