Dear Colleagues
We are pleased to share a significant update following our recent consultations with the Chair of the PPRA. Effective immediately, valid BEE certificates will now be accepted, allowing the 2,400 + firms and their agents who were facing deregistration to continue their operations without interruption when they apply for new FFCs next year.
This means agencies with a turnover of more than R2,5 million per annum can obtain a ‘Valid’ BEE certificate from a registered SANAS verification agency without having to meet the minimum 40 points (BEE Level 8) on the scorecard. As before, agencies can obtain a Level 8 Non-Compliant valid BEE certificate.
For your reference below is the letter from the PPRA Chair confirming this positive outcome.
letter-to-the-rebosa-board-dr-ngubeni-13-august-2024
Throughout our communications and webinars, we have consistently advocated for a negotiated resolution as the most expedient and cost-effective path forward, rather than engaging in lengthy and costly legal processes. We are pleased that this collaborative approach has yielded the desired result, demonstrating that constructive dialogue can indeed lead to beneficial outcomes for all parties involved.
While this development is a considerable win for our industry, it also serves as a reminder of the importance of continued commitment to transformation. The transformation of the real estate sector remains a cornerstone of our mission to build a vibrant and inclusive economy, and we must all contribute actively to this effort. In line with this, Rebosa will be announcing new initiatives to further advance our shared goals.
We would like to express our sincere appreciation to PPRA Chair, Dr. Steven Ngubeni, for his consistent engagement with us and his pragmatic approach in arriving at this decision. The strong working relationship we have with the PPRA has already resulted in several important good outcomes this year, including the action iro accreditation fees by many HOAs, the retention of 50% of interest on trust accounts by agencies, and the scrapping of historical penalties.
Finally, we extend our heartfelt thanks to you, our members. It is your unwavering support and membership that empower us to tackle these industry challenges and advocate on your behalf.
Kind regards
Jan
