Attacq funds R2.4m collaboration with Property Point

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Property Point, established by Growthpoint Properties for significant enterprise development that delivers real, industry-specific results, will now manage Attacq's Enterprise Development Programme. Attacq will fund an intake to the value of R2.4 million to participate in a business incubation programme.

Norbert Sasse, CEO of South Africa's largest JSE-listed REIT, Growthpoint Properties, comments: "Property Point started in 2008 as an initiative to further Growthpoint's transformation goals through crucial enterprise development. Even then we knew the initiative had the potential for greater impact on a much larger scale. Today, with a well-established track record of proven results and positive impacts, Property Point has become a partner for like-minded industry leaders and organisations. We are delighted to welcome Attacq as Property Point's first partner."

Morné Wilken, CEO of the JSE-listed real estate capital growth fund Attacq, explains: "Collaborating for meaningful transformation in the property sector by growing small business is central to enterprise development. This is exactly what we aim to achieve by partnering with Property Point. By using a proven programme that is already delivering excellent results to South Africa's largest listed property counter, we can have the biggest possible impact in the shortest time, without having to reinvent the wheel."

Successful transformation, positive impacts

Shawn Theunissen, Head of Property Point and Growthpoint's Corporate Social Responsibility, reports that this maiden collaboration, partnering with Attacq, will boost successful transformation and enterprise development in the property industry.

Theunissen says: "Attacq's enterprise development investment will have desirable and far-reaching positive impacts, not only for everyone directly involved, but entire sector and South Africa as a whole."

For almost seven years, driven by Growthpoint, Property Point has been a catalyst for successful enterprise development in the South African property industry, steadily growing its capacity and results.

So far, 86 businesses have participated in Property Point's two-year programme, enabling them to generate results - well over the national average - of over R214.4 million in procurement opportunities and report revenue growth of 27.5%.

Property Point's incubation programme has already made significant strides in enterprise and supplier development through creating 904 jobs while empowering 2,500 people with best business practices. In addition, 43% of programme beneficiaries are black women owned enterprises and 95% of businesses continue running sustainably after graduating from Property Point.

Thanks to this new partnership, Attacq's enterprise development programme will now include targeted interventions to help develop SME's based on Attacq's unique needs.

Wilken adds: "Property Point's model and approach to enterprise development unlocks opportunities that will benefit Attacq, and entrepreneurs serving the entire industry too. We have joined this programme because it creates real supply chain opportunities, ensuring sustainable transformation and job creation. It will help meet our goals and targets for enterprise development and transformation, and enhance our understanding of small businesses in South Africa."

While Attacq is a relatively young company, it has strong roots in economic and social empowerment and is developing a solid track record of driving transformation.

"Transformation is a business imperative for us," says Wilken. "The benefits of our collaborative effort with Property Point go beyond a matter of mere compliance. With our like-minded partners, we're helping create an environment where SME's strive for excellence and where all businesses on the supply chain run at a higher level. When that happens, we all win."