Racial exclusion from Sasol share plan means strike is possible

May 28, 2018

BREAKING: VAAL TRIANGLE - The CCMA has ruled that workers at Sasol, including those in the Vaal Triangle, are allowed to strike over the exclusion of white staff from an employee-shareholding plan. Labour union Solidarity registered a dispute with the Commission for Conciliation, Mediation and Arbitration, or CCMA, after Sasol introduced benefits that it said would exclude workers based on race. The deputy general secretary at Solidarity, Deon Reyneke, told Bloomberg the commissioner ruled in the union’s favour saying that this is a strikeable dispute. The matter was referred to the CCMA for conciliation before a certificate allowing permission to hold a strike is awarded, he said. Sasol has struggled to improve its empowerment structure since the outgoing plan, known as Inzalo, failed to pay out to more than 250 000 black South Africans who participated in the transaction after the stock was battered by a slump in crude prices. Sasol said in an emailed response they remain confident they have designed the Khanyisa transaction to incorporate what they consider to be the most appropriate and best features of broad-based black economic empowerment structures. It said the plan is aimed at specifically advancing the transformation of the South African economy and Sasol.
PHOTO: (Supplied)

 

 

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