Herbert Penny, the great-grandfather of the current CEO Conrad Penny formed a property company in Cape Town in 1906. The Johannesburg off-shoot of the company was formed by Herbert Penny's eldest son Magnus Penny before WWII. Magnus Penny’s eldest son, Erral Penny, formed what is now Penny Brothers in 1957. Erral Penny’s son Conrad Penny is now the CEO of Penny Brothers, having joined the company on 01 July 1970. He has remained with the company for 45 years. Two of his children have joined him as specialist consultants.
Empowerment policy and practice in the Company/firm
We have a list of P.D.I.s (Previously Disadvantaged Individuals) with whom we have dealt and will deal in the future.
As each project is especially packaged to fit the client's specific requirements, the Consultants and Participants obviously vary from project to project.
As a result of this, it is more efficient for those participants to share in the profits of that specific project than to be shareholders of a general nature.
Such a system also allows those PDI's to be engaged with no venture Capital outlay or risk of financial loss. Amounts paid out vary from project to project.
We are currently forging formal links with a well known Black Empowerment financial services group.
The company has evolved into a "one-stop property supermarket".
We offer the widest range of land services available in the country and invite anyone to challenge this statement.
Our consultants are especially selected for their area of expertise to provide our panel with a wide but harmonious range of services.
Our typical Modus Operandi is to "package" the consortium of consultants to "fit" the task at hand.
Our goal is to provide a quality project, within budget and on time!
The Company is also well experienced in the field of property broking and syndication's and for the introduction of finance, etc. into any