Human Settlements Minister Mmamoloko Kubayi has defended her appointment of Property Practitioners Regulatory Authority (PPRA) chairperson Steve Ngubeni, who has a history of financial misconduct allegations amounting to millions of rand.
Kubayi launched the PPRA in February to succeed regulatory body the Estate Agency Affairs Board (EAAB). She said the new body’s main functions would include regulating the affairs of all property practitioners; to allow for transformation in the property sector and provide for consumer protection. In contrast to the EAAB, the PPRA would have more reaching power – including inspections without notice – and more serious consequences for non-compliance, the minister said.
