Growthpoint Properties, one of South Africa’s largest property investment companies, is planning to launch a R250 million black empowerment scheme linked to corporate social investment (CSI).
- The scheme will be focused on supporting black-owned businesses and entrepreneurs in the property sector, with a particular focus on township and rural areas.
- Selected black-owned businesses will receive funding, mentorship, and training through the scheme, with the aim of promoting economic transformation and job creation.
- Growthpoint’s efforts to promote transformation in the property sector, which has traditionally been dominated by white-owned businesses, will be supported by the scheme.
- The scheme will be financed through Growthpoint’s CSI budget, which is assigned each year to support social development initiatives in South Africa.
- The details of the application process and selection criteria for the scheme are yet to be announced as it is still in its planning stages.