The South African Institute of Black Property Practitioners (SAIBPP) held its Annual Convention and Gala Dinner at the Theatre on the Track at Kyalami Business Park on Friday 20th April 2007.

The event sponsored by RMB Properties and Old Mutual Properties aimed to deliberate and define the Second Wave of Empowerment for the property sector.  Ownership without influence or control was sighted as the pitfall for many BEE deals in the first wave of empowerment.

Business personalities such as Ezra Ndwandwe, Nedbank Property Professional of the year Rali Mampeule, Chairman of transformation charter Andy Tondi and the Honourable Minister of Public Works, Thoko Didiza, were some of the distinguished guests to address the institute during the convention and dinner sessions.

SAIBPP agreed on the need for skills and capacity building in the second wave of empowerment, as opposed to transfer of ownership without control and influence.  A panel discussion chaired by Dijalo Properties MD, Saul Gumede, concurred that the charter presented only a framework, and government could potentially use government leases as a bargaining chip to drive transformation in the sector. According to Rali, 95% of the residential estate business is predominantly white, with a 30% chunk shared amongst the top 5 firms such as Chas Everitt.

Balisa Mangxaba, a Director at Auction Alliance went on to highlight the opportunities presented by auctions for SAIBPP members. He indicated the exponential growth of the industry in the past 3 years, further entrenching auctions as an international growing means of buying and selling property.
 
In her speech, the Minister challenged SAIBPP to review their mandate and deliberate on what impact they intended to have in the mainstream economy, as a pressure group or an organisation that pushes transformation issues in the property market.
 
Formed in 1996, SAIBPP has over the years geared itself to transform the property industry by ensuring that Black professionals are represented and play a meaningful role in the mainstream economy. At the Annual general meeting held on the same day, Nyakezi Madikizela, former Deputy President was elected as the new President of SAIBPP.