Has real change come to SA business or is it all just talk? Insiders are divided on the state of transformation.
Indications are that the jury is out on business transformation; at least that’s the impression judging from the latest plans by SA’s Commission for Employment Equity. According to the commission, defaulting companies and individuals are to be named and shamed, while fines for non-compliance are to be increased. Most importantly, “zero tolerance” must be shown to the guilty, which “must result in prosecution”.
In a strongly worded letter in the commission’s 2008/09 annual report, Jimmy Manyi, chairperson of the commission, expresses his displeasure at the rate of transformation in SA business thus far.
Says Manyi: “It is disconcerting ... that all 106 companies that were reviewed were found to be in breach of procedural and substantive compliance. The majority of these companies were in the top 100 JSE-listed companies, which implies that they have the resources to implement the act.
11.06.2010 / Agbiz in the news