Growthpoint B-BBEE ownership scheme

Growthpoint Properties achieves a Level One B-BBEE rating

Published on: 30/09/2021

Growthpoint Properties has significantly improved its Broad-Based Black Economic Empowerment (B-BBEE) performance, becoming the first JSE-listed REIT to achieve a Level One B-BBEE Contributor certification according to Property Sector Codes and joining the select handful of listed companies to have achieved South Africa’s highest transformation rating.

The tremendous progress Growthpoint has made on its purposeful transformation journey speaks for itself. Six years ago, at the beginning of 2015, it had a Level 6 B-BBEE rating. Now, in 2021, Growthpoint’s Level 1 B-BBEE rating shows notable success in accomplishing transformation at ownership level. It also reflects particularly meaningful transformational impacts through learning programmes, procurement spend, and enterprise and supplier development. This accomplishment demonstrates Growthpoint constant drive for tangible ways to increase B-BBEE participation at all levels of its business, and in different disciplines and skills.

Estienne de Klerk, SA CEO of Growthpoint Properties, comments, “Growthpoint is committed to transforming South Africa and empowering South Africans. We have worked hard to take our transformation journey forward and improve. As a company, we believe in doing the right thing and strive to improve the social and material wellbeing of individuals and communities so all participants in South African society can thrive. Growthpoint is playing its part in economic and social transformation and will continue to make empowerment a priority.”

Shawn Theunissen, Growthpoint’s head of Corporate Social Responsibility and Transformation, says, “As the largest primary South African listed property company, Growthpoint is in a unique position to create meaningful transformation across our business, within the property industry and beyond. Our progress in transformation also furthers our clients’ procurement programmes. Growthpoint’s new rating gives us a 135% B-BBEE procurement recognition level and will support our tenants’ and third-party development clients’ procurement scorecards too.”

Honeycomb BEE Ratings certified Growthpoint Property Services’ B-BBEE rating in line with the Property Sector Codes. Growthpoint creates space to thrive with innovative and sustainable property solutions. It is a FTSE/JSE Top 40 Index company, a constituent of the FTSE EPRA/NAREIT Emerging Index, has been included in the FTSE4Good Emerging Index for five successive years and the FTSE/JSE Responsible Investment Index for twelve years. Growthpoint’s group property assets were valued at R152.8bn at 30 June 2021. It is invested in real estate and communities across South Africa, Africa, Europe, the UK and Australia. It owns the biggest portfolio of green-certified buildings in Africa, providing quality spaces that work best for its clients. Growthpoint is an established leader in tailor-made developments across all commercial property sectors.