Government is expected to conclude the legislative process for the Employment Equity Amendment Bill in September 2022, in what is expected to be the vanguard of a new transformation push for the country.
The government is expected to conclude the legislative process for the Employment Equity Amendment Bill in September 2022, in what is expected to be the vanguard of a new transformation push for the country.
Their task will be to propose ways to improve representativeness in board and executive roles, create an equitable workforce, expand black skilled labour and increase the overall participation of black people in the economy. Further, the proportion of black people in executive roles among reporting entities fell to 39% in 2019 from 45% the previous year.Regulators are also attempting to address this imbalance through other means, with Songhai Advisory pointing to the controversial Burger King deal as a recent example.
“The deal was consequently blocked on grounds that HDPs would lose their 68.56% stake in Burger King SA, but it was later cleared after counterparties agreed to terms including the formation of an employee ownership scheme.”The advisory firm said that it expects the legislative process for the Employment Equity Amendment Bill to be concluded before September 2022.
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