Too white to sell property: The government has warned that bla | South Africa Reports

Too white to sell property: The government has warned that black ownership will be a mandatory requirement for doing business in the real estate sector.

On 13 March 2024, the Property Practitioners Regulatory Authority (PPRA) announced that BEE [Black Economic Empowerment] is now a precondition for doing business. “Property practitioners” with less than 40 points on a BEE scorecard will be refused their Fidelity Fund certificate, making it illegal for them to continue operations.

[Whites] will now be forbidden from benefitting from any property transaction without handing shares to a black partner.

Tens of thousands of estate agents, property developers, property administrators, landlords, direct property sellers, auctioneers, property advisors, and other practitioners will all be affected by this new regulatory standard.

https://www.capeindependent.com/article/sakeliga-warns-of-coming-prohibition-against-minority-owned-property-companies