Trade and Industry Minister Ebrahim Patel said the country was making progress in bringing workers into ownership and representative structures in the private sector.
Patel held a briefing with CEOs and unions on employee ownership structures ahead of International Workers Day on Saturday.
The government policy has seen over 150,000 workers become part owners of the companies they work for through shareholding.
Patel said the government had begun to prioritize empowerment schemes that provided workers with equity or shares in the companies they worked for.
“Coca-Cola has just completed its legal work for the transfer of shares to its 8,000 employees”
Cosatu’s Tony Ehrenreich welcomed the progress and said worker empowerment was critical to transformation across the economy.
“Ultimately anything that we do around public policy has to have an impacted on the lives of our people. It has to reduce the level of inequality”.
Meanwhile, Patel said the government was in the process of establishing a framework that would ensure workers were also represented on big company boards.
-EWN
In other news – Again! Shona Ferguson exposed
From working together to spending time together and showering each other with expensive gifts, we can’t help but love the Fergusons. It’s also hard to miss the couple goals that he’s always serving with his wife, Connie, and it’s been 20 years.
It then came as a shock when Vatiswa Ndara wrote a long letter exposing the unfair treatment that he had received from Ferguson Films, Learn More
