Sector has shown that those who use BEE policy to build operating business will be celebrated by society for inspiring the next generation A STRONG argument can be made that unlike the resources sector, which has captured most of the headlines around black economic empowerment (BEE), in the listed property sector empowerment policies have worked.In 2010 the Department of Public Works declared that it would only sign long-term (nine year, 11 month) leases with property companies with BEE credentials. This initially caused outrage as the incumbent landlords deemed it unfair and voted with their cheques by refusing to give tenant installation allowances to government departments as part of a lease renewal process.It was not long before the headlines again pointed to the failings of the policy as the light was only shone on leases that were signed under controversial circumstances, such as the highly publicised lease between Roux Shabangu and public works.Mr Shabangu entered into a 10-y...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.