- Business formations from different sectors in South Africa's economy believe there needs to be sector-by-sector consultation
- This is in regards to the Employment Equity Amendment Bill that many believe the above clause is needed for
- Business Unity SA (BUSA) Chair of Social Policy Kaizer Moyane stated that it was important for consultations to be had with all sectors
Business formations representing different sectors in the economy of South Africa addressed Parliament's Portfolio Committee on Employment and Labour regarding the Employment Equity Amendment Bill.
It claimed that it needed to have a clause for appropriate sector-by-sector consultation in order for the bill to work.
The amendments to the Employment Equity Act of 1998 aim to allow the Minister of Employment and Labour to set targets in specific sectors with the intention of accelerating transformation in each sector, and inevitably the economy.
Business Unity SA's Chair of Social Policy Kaizer Moyane stated that the requirement to consult all sectors was left out of the Amendment Bill despite there being an agreement reached among all social partners of the National Economic Development and Labour Council.
Moyane stressed the importance of consultation among all sectors. Consultation should be conducted with respective industry bodies where targets are set based on important information relating to the economic challenges faced in the industry.
According to News24, Moyane stated that the amendment of the Employment Equity Act will result in employer's being forced to use the sectoral targets fixed by the minister in its employment equity plan, making consultation with employees pointless.
TimesLIVE reported that BUSA understands the agenda of the contentious bill to accelerate transformation in the workplace and that BUSA was not opposed to the goal, provided it is implemented in a constitutional manner.
In other business news, Briefly News recently reported that over 75% of South Africans have used all their money up before month-end. A surveyed study commissioned by the South African early wage solution provider Floatpays, indicated that 76% of South Africans have depleted their money on a regular basis by the end of the month, while 57% of South Africans tend to use all of their money up during the month.
A data intelligence platform based in the United States known as Proof of Impact for Floatpays conducted the study. The economic landscape in South Africa has shifted dramatically since the surfacing of the Covid-19 pandemic in 2020.
Economic uncertainty such as not being able to pay employees their full salaries as well as a dramatic increase in unemployment as more and more businesses are forced to close are just some of the shifts that have been noted.
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