Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)Codes of Good Practice on Broad-Based Black Economic EmpowermentProperty Sector Charter3. Objectives of the Property Sector Charter |
| (3.1) | This sector code aims to promote the objectives contained in section 2 of the B-BBEE Act as these relate to the property sector and, in particular, but without limitation: |
| (3.1.1) | Promote economic transformation in the property sector in order to enable meaningful participation of black people including women, the youth and people with disabilities; |
| (3.1.2) | Unlock obstacles to property ownership and participation in the property market by black people; |
| (3.1.3) | Promote property development and investment in under-resourced areas which enhances basic infrastructure, encourages investment and supports micro and small enterprises; |
| (3.1.4) | Achieve a substantial change in the racial and gender composition of ownership, control and management and enhance the participation of black people (including black women) and designated groups in the property sector; |
| (3.1.5) | Promote the effective advancement of employment equity in the property sector and encourage diverse organisational cultures; |
| (3.1.6) | Increase the pool of intellectual capital amongst black people, particularly black women, in the sector by focusing on attracting new entrants and developing appropriate curricula; |
| (3.1.7) | Address skills development in a manner that accelerates the advancement of black people (especially black women and black employees with disabilities) with increased investment in the skills development and training of new entrants; |
| (3.1.8) | Enhance entrepreneurial development and increase the number of B-BBEE firms and SMMEs providing services and products to the sector whilst promoting sustainable growth of such firms; |
| (3.1.9) | Increase the procurement of goods and services from B-BBEE suppliers; |
| (3.1.10) | Facilitate the accessibility of finance for property ownership and property development; |
| (3.1.11) | Encourage good corporate citizenship amongst enterprises in the sector, including participation in corporate social investment projects and adherence to triple bottom line accountability; |
| (3.1.12) | Promote investment in and contribute to growth of the sector; and |
| (3.1.13) | Enhance uniformity and consistency in the application of the principles contained in the charter. |