Register now for Fin24 Dashboard and get access to portfolios, watchlists, financial comparison tools, and a whole lot more to help you achieve your financial goals.

Data provided by McGregor BFA
All data is delayed
Loading...
Where am I? Home
 
Prices are delayed by 15min.
Join the Fin24.com conversation about JSE-listed stock by using every time you tweet.

Minister wants tougher EE fines

Sep 16 2009 21:01

Related Articles

Its because he's black: ANCYL

Women forge ahead despite bias

Manyi: 'I'll hit where it hurts'

Employment equity 'too slow'

EE deadline approaches

Female stamp of BEE approval

 

Top Stories

Sizeable drop in petrol price expected

May 24 2012 17:31

The Reserve Bank will maintain current interest rates, and a sizeable reduction in the local petrol price is expected, says governor Gill Marcus.

Income inequality divides SA - survey

May 23 2012 22:00

Economic liberation or the lack thereof is the most divisive issue in the country, according to a survey.

Interest rates unchanged

May 24 2012 15:29

The Reserve Bank will maintain current interest rates, says governor Gill Marcus.

 
Share Share line Print

Cape Town - Tougher fines should be considered for failure to meet employment equity targets, Minister for Women, Children and the Disabled, Noluthando Mayende-Sibiya, said on Wednesday.

Speaking at a University of the Western Cape graduation ceremony, she said it was unacceptable that, 15 years into democracy, the economy was still dominated by white men.

There was no indication that companies' spending on skills development was being targeted at training women and blacks into senior echelons.

"It is within this context that I firmly believe that much tighter legislative framework with stiff fines is required to drive both gender and racial transformation," she said.

"Increasing the fine for failure to meet employment equity targets to 10 percent of companies' turnover as recommended by the Employment Equity Commission should be seriously considered if we are to accelerate the pace of both gender and racial transformation."

The fine is currently capped at R900 000.

Among the graduates at Wednesday's ceremony were 207 women members of the National Education, Health and Allied Workers Union, whom the union supported in studying for a Higher Certificate in Economic Development.

Mayende-Sibiya said this showed it was possible to take practical steps to meet gender equity targets.

Public and private institutions should stop making excuses that there were not enough women with capacity and skills to occupy leadership positions.

"If you cannot find them, train and groom them into those senior positions," she said.

She also said her ministry was developing a legislative framework to drive South Africa's process towards achieving the 50/50 gender equality target set by the African National Congress.

- Sapa

 
 
Comment on this story
0 comments
Comments have been closed for this article.
Facebook's intrinsic value
May 23 2012 11:32

When it comes to judging a company’s worth, value investors like Warren Buffett look at intrinsic value. By that measure, Facebook’s shares are worth less than $10. A Reuters analyst breaks down the math. (Reuters)

NicolaaSmith

Items with an underlying monetary nature Utility, scarcity and exchangeability are the three basic attributes of an economic item which, in combination, give it economic value. All economic items are exchangeable and money is generally the generally accepted medium of exchange. All economic items t... Read their blog...

Recently updated
Podcasts
The Sishen saga

Legal expert Peter Leon on the increasingly complex legal wrangle over the Sishen Iron Ore mine. Time: 8:17 Listen Here...

Before you list

Is the clarion call of the JSE calling? Listen to Fin24’s expert panel discussion before you list your small business. Time: 17:29

Compare and Buy

Compare and apply for hundreds of financial products from many suppliers.

Credit cards Medical aid Current accounts Think Money

Money Clinic

Money Clinic Do you have a question about your finances? We'll get an expert opinion.
Click here...

Loading...