Media Statement News

The PPRA’s board decides to formally charge suspended CEO

Joseph Sakoneka, CEO of the NPPC.

The Property Practitioners Regulatory Authority’s (PPRA) board has taken a decision to formally charge their suspended CEO with maladministration, fraud, and the misappropriation of pension funds following the preliminary findings of a recent forensic investigation.

The findings apparently reveal evidence of criminality and corruption including inter alia; flouting of procurement processes (including but not limited to) quotation cover ups and collusion with service providers; misrepresentation regarding the appointment of service providers where goods were not delivered but paid for; the routine appointment of certain service providers; the flouting of the Pension Fund Act resulting in the payment of over R1 million in arrear contributions and most concerningly, the irregular appointments of staff, some of whom do not meet the minimum qualification requirements but who were hired without due processes being followed.

The National Property Practitioners Council commends the PPRA’s board for conducting a thorough, transparent, and fair process and in particular, its Chairperson Steven Ngubeni who has faced numerous personal attacks. CEO of the NPPC, Joseph Sakoneka, says: “The restoration of the credibility of the PPRA is critical for the industry. To this end, the PPRA board needs to remain steadfast on its objective to conclude the investigations expeditiously and not be defocused and side-tracked by any sideshows concocted to muddy the waters and discredit the investigations”.

“It is most unfortunate that at a time when there is so much uncertainty in the industry and the PPRA is supposed to be actively working on implementing the new Property Practitioners Act, fast-tracking transformation and providing leadership and guidance, there is a leadership vacuum that prevents critical decision-making and progress”, comments Vuyiswa Ramokgopa, Chairperson of the NPPC.

The NPPC wishes the PPRA board all of the very best in its endeavours to overcome the leadership challenges in an effort to build a credible and service-orientated regulator that will serve the property industry with distinction and by extension the Republic of South Africa by creating economic opportunities for many and ultimately transform the sector”, concludes Sakoneka.