Growthpoint, Attacq enter R2.4m growth agreement
JSE-listed Growthpoint Properties reported on Monday that its Property Point division had teamed up with South African capital growth property firm Attacq to further its business incubation programme.
Property Point would manage Attacq’s enterprise development programme, while Attacq would fund an intake to the value of R2.4-million to participate.
“Property Point started in 2008 as an initiative to further Growthpoint’s transformation goals through crucial enterprise development. We knew the initiative had the potential for impact on a much larger scale.
We welcome Attacq as our first partner,” Growthpoint Properties CEO Norbert Sasse commented.
Attacq CEO Morné Wilken said collaborating for meaningful transformation in the property sector by growing small business was central to enterprise development.
So far, 86 businesses had 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 had already made significant strides in enterprise and supplier development, creating 904 jobs while empowering 2,500 people with best business practices.
In addition, 43% of programme beneficiaries were, to date, black women-owned enterprises and 95% of businesses continued running sustainably after graduating from Property Point.