The National Property Practitioners Council (NPPC) has welcomed the decision by the Property Practitioner Regulatory Authority to place its CEO on precautionary suspension pending the outcome of investigations into “maladministration and misappropriation of pension funds“.
Property Wheel first caught wind of the CEO’s precautionary suspension on the 28th of March 2022 when Real Estate Business Owners of South Africa (REBOSA) shared the PPRA’s media statement on their Facebook page:
“The PPRA Board is charged with the responsibility of playing an oversight role in the affairs of the property sector and when there are allegations of maladministration, the Board ought to act decisively in dealing with such allegations”, said the NPPC.
“The Board of the PPRA demonstrated decisive leadership by placing the CEO of the PPRA on a precautionary suspension pending the outcome of the investigations into allegations of maladministration at the PPRA. This is following numerous whistle-blowers’ reports and the report from Public Service Commission (PSC). NPPC supports the PPRA Board for its decision to place the CEO on a precautionary suspension as this can only make the investigation process independent, objective, and credible”, commented Joseph Sakoneka, CEO of the NPPC.
“Given the increased levels of uncertainty following the implementation of the new Property Practitioners Act and regulations, it is crucial that the industry and the regulator work closely to ensure that provisons of the new Act and its regulations are implemented effectively. Matters like this simply exacerbate the uncertainty and serve to erode public trust in state institutions”.
“Public trust in State Owned Enterprises (SOEs) is everything, and when that trust is tainted, then the institution becomes a shadow of its original state, public trust is thus the lifeblood of any SOE without which there is no SOE”, he said.
The NPPC also congratulated the newly appointed acting CEO Deliwe Nkambule on her appointment.
“We are looking forward to working closely with the leadership of the PPRA to ensure that transformation is realised in the industry and the new regulations are implemented effectively”.
