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equity
KEY HIGHLIGHTS OF THE NEW EMPLOYMENT EQUITY ACT REGULATIONS
Designated employers with 50 or more employees must align their EE plans with these targets to ensure equitable representation. Non-compliance could result in hefty penalties of up to R1. 5 million or 2% of annual turnover. It is crucial to note that over 200 employees have already faced Labour Court for prior violations.
Starlink yet to apply for SA operating license despite Elon Musk's B-BBEE claims
Elon Musk has claimed that South Africa's Black Economic Empowerment laws are preventing Starlink from operating in the country, but regulatory authorities confirm the company has not applied for a license.
Starlink yet to apply for SA operating license despite Elon Musk's B-BBEE claims
Elon Musk has claimed that South Africa's Black Economic Empowerment laws are preventing Starlink from operating in the country, but regulatory authorities confirm the company has not applied for a license.
uMkhonto weSizwe Party criticises Cyril Ramaphosa’s presidency as 2024 ends
As 2024 ends, the Mkhonto We Sizwe (MK) Party has strongly criticized President Cyril Ramaphosa's administration for failing to address South Africa's key issues, including unemployment, corruption, and service delivery failures. They condemned the unequal impact of load-shedding, worsening inequality, and the government's inability to combat violent crime. MK Party spokesperson Nhlamulo Ndhlela called for accountability and urged citizens to consider alternatives in the 2025 elections, positioning the party as a vehicle for meaningful change.
SA Rugby’s equity deal dilemma
The deal could help SA Rugby make the most of the Springboks’ status as world champions.
Pandor says she regrets declining ANC's deputy president position
Pandor said she never imagined the ANC being in bed with the Democratic Alliance (DA) in government.
EFF calls for the removal of DA MP Ronaldo Gouws over racist and homophobic remarks
The Economic Freedom Fighters (EFF) has issued a strong condemnation of Democratic Alliance (DA) Member of Parliament Ronaldo Gouws, accusing him of making racist and homophobic remarks in various public videos.
Oil climbs, equities sink as Iran blasts fan Middle East escalation fears
It is now clear that the escalating shadow warfare between Israel and Iran has finally ignited the powder keg in the Middle East, an analyst said.
ActionSA petitions Human Rights Commission to take WesBank to the Equality Court
This morning members of ActionSA led by its national spokesperson, Lerato Ngobeni, picketed outside the South African Human Rights Council offices to hand over a formal complaint regarding recent damning allegations that WesBank is overcharging its black clients.
Commission for Gender Equality bemoans low security at some shelters
The Commission for Gender Equality (CGE) has red-flagged low-security standards at some safe shelters across the country and raised further concern about the vetting of security personnel.
Equity winners in a higher-for-longer interest rate environment
For most individuals and companies, higher short-term interest rates are a bad thing. But there are some winners.
Words on Wealth: How funds have performed over the long term
We need to consider inflation, because, if you haven’t beaten that, your savings have eroded over time.
Evaluating the Cabinet-approved SOE plan against a mixed global track record of full or partial privatisation
It has already stirred significant debate and discussion – and rightly so, because full or partial privatisation by countries around the world has been met with mixed success.
Black ownership requirement for Tourism Equity Fund revised
The TEF was launched in January 2021 by the Department of Tourism to provide a new financial support mechanism to stimulate investment and transformation in the tourism sector.
Gender disparities dog JSE Top 40 companies
South African women only hold 35% of board positions, on average, or 180 out of 515 board positions among JSE Top 40 companies, while their representation in executive roles is a paltry 25% or 115 out of 468 executive roles.
10 startling facts about why South Africa is the most unequal country in the world and who the other nine are
The World Bank's data shows that the top 10% of South Africans possess 80. 6% of the country's financial assets, while the poverty rate is 20%, almost double that of similar nations
BRICS members urged to unite to strengthen copyright law in music
This pivotal gathering provides an opportunity to address the lack of synergies in copyright legislation and the ongoing exploitation of women in the music industry within the individual BRICS countries.
How to overcome barriers and promote gender equity in the hospitality industry
Empowering women results in greater performance and, more importantly, creates a more dynamic and resilient workplace, says Hellen Lebone, Regional Human Resources Director for Hilton Africa and Indian Ocean.
KZN’s trimmed scholar transport budget raises fears
Equal Education junior organiser Tiny Lebelo said that of the almost 300 000 pupils that need transport, only 80 000 are being serviced. This after the Department of Education cut the scholar transport budget from R457 million to R266 million for the coming financial year.
South African Indians and coloureds are considered black Africans to us - ANC SG Fikile Mbalula
The amended Employment Equity Act empowers Labour Minister Thulas Nxesi to set employment equity targets for 18 economic sectors with some contesting it was at the disposal of coloured and Indian South Africans.
Good news for sub-Saharan Africa as dealmaking expected to increase
Merger and acquisition activity levels have been slower in South Africa and sub-Saharan Africa over the last year, mostly due to the unreliable supply of electricity (which has been particularly challenging in South Africa), geopolitical uncertainty, supply chain blockages and challenging global economic conditions. However, many private investors are sitting on investments they need to exit in the near term, and we therefore expect to see an increase in activity going forward, although, due to the challenging local and global conditions, it's currently unclear exactly when this will be. By Angela Simpson and Lydia Shadrach-Razzino
Unisa recommits itself to social justice, equity at university’s 150 anniversary celebration
The event was attended by chancellor of Unisa and former president Thabo Mbeki, as well as chairperson of the the university’s council, Mashukudu J Maboa, and other dignitaries.
Asset managers are ‘at a turning point’ – report
It shows that 2022 was one of the worst years for investors since 2008, the year of the global financial crisis.
Capitalworks closes deal for biggest foreign investment in boat build sector
Robertson and Caine was sold to Vox Ventures, a subsidiary of PPF Group, an international investment company.
Portfolio committee backs amended Employment Equity Act
The committee says the existing Employment Equity Act already required employers to establish their own employment equity targets by considering both national and provincial demographics as outlined in section 42.