Property flounders, building cements upswing
Management control targets are down in real estate, while construction companies reached 81.87%, up from 68% in 2022: Sanlam Transformation Gauge report
30 July 2023 - 07:10
Transformation continues to take a back seat in the property sector, with B-BBEE scorecards falling further in 2023, according to the Sanlam Transformation Gauge report.
Companies in this sector scored 32% of their management control target in 2023, from 35% last year and 39% in 2021. Black ownership also regressed to 65% of the target in 2023, down from 67% in 2022 and 78% in 2021. However, there were improvements in the targets for skills and enterprise and supplier development, it said...
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