The Property Practitioners Regulatory Authority (PPRA) has, in its endeavor to transform the property sector and implement the transformation programmes as enumerated under Sections 20 and 21 of the Property Practitioners Act, 22 of 2019, issued a tender for an incubation programme to assist small black property businesses to grow and scale.

Section 20(3)(d) of the PPA, 22 of 2019 in particular provides that:

“The Authority must from time to time – introduce measures to be implemented, which may include incubation and capacity building programmes to redress the imbalances of the past”.  

The incubation programme is aimed at assisting black principal property practitioners that need financial support in order to grow and scale. PPRA had a meeting with a group of black principal property practitioners to conduct a needs analysis as a basis for drafting the terms of reference for the incubation programme so to ensure that there is an alignment between challenges encountered by black property practitioners and the implementation of the incubation programme. This was PPRA’s effort to solve the challenges that black practitioners face with the practitioners themselves through consultation. 

Based on the engagement with the practitioners, it was apparent that black principal property practitioners face the following challenges:

• Lack of access to property stock;
• High marketing costs;
• Lack of funding to purchase computer equipment such as printers to print things such as offer to purchases (OTPs), lease agreements etc.

NB: The list of challenges above is not exhaustive.

Herein below are the critical dates of the incubation programme that was issued by the PPRA:

We hope that this communique clarifies any uncertainty but if not, kindly contact us for further clarity.

Issued by:                                                      

Ms. Thato Ramaili                                                                             

Chief Executive Officer (Acting)

Property Practitioners Regulatory Authority