MAIN IMAGE: Thato Ramaili – PPRA CEO, and Jan le Roux – CE of Rebosa
Editor
The PPRA arranged an open online consultation on 2 September for property practitioners about an important application brought by Rebosa. The issue on the table is BEE Certificates.
The PPRA recently acknowledged that estate agencies with turnovers in excess of R 2.5 million need only provide valid BEE certificates (not necessarily compliant) when applying for or renewing their FFCs. While the industry has applauded this, obtaining a BEE certificate is still costly (several thousand Rands, in excess of R 10,000).
Exempt property practitioners from the requirement for a valid BEE certificate
Jan le Roux, CE of Rebosa, explains, “Since almost all such valid certificates would be non-compliant, it occurred to us that the money spent on obtaining these certificates could be better spent by contributing R6,000 per applicant to the Transformation Fund. This contribution need only be made once every three years when applying for a three-year FFC”.
Rebosa believes that the funds raised in this manner can be applied in a positive manner to promote real transformation in the industry and is hopeful that the PPRA will see its way clear to granting this exemption for the three-year period applied for.
It is also more affordable for property practitioners
This is an ongoing story, and Property Professional will keep you updated with any new developments.
