Key findings of the 2017 State of Transformation Report:
• Small Sample-Reflective of industry Outlook. Few large companies- high market value – dominate the sector
2. Industry Performance
• Reasonable effort-slow pace. Varying industry have varying level of implementation commitment
• Commercial reasonable effort, Residential lesser progress & Public sector not active role in transformation agenda.
3. Property Sector B-BBEE Recognition Level
• Level 4 on previous recognition level. Cautioned interpretation because new recognition level could be 6
4.Performance in Employment Equity, Management Control and Skills Development
• Under-performance in Employment Equity, Management Control and Skills Development as a package.
• Employment Equity: Very low target for middle & senior management
• Management Control: Higher Independent none-executive directors but low voting rights
• Skills Development: Difficult to achieve if no Employment Equity and Management Control are not progressing
5. Skills Development
• Lack of investment in Skills Development perpetuates lack of transformation. Sector & academic collaborate in developing curriculum for current & future trends.
6. Performance of Enterprise Development and Socio-Economic Development
• Good achievement Enterprise Development and Socio-Economic Development– future create & grow sustainable enterprises
7. Performance of Economic Development
• Poor performance of Enterprise Development– in future need to targeted at the poorest areas of the country
Gazetted the AMENDED PROPERTY SECTOR CODE to close gaps & used other legislation/policy for transformation at required pace.