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SA companies forced to reveal pay gap between bosses, workers - and investors must approve

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Minister of Trade, Industry, and Competition Ebrahim Patel has tabled detailed amendments to the Companies Act dealing, among other things, with gaping hole between high paid and low paid employees in SA

Listed and state-owned companies will, in the future, have to disclose the pay gap between the highest and lowest-paid as well as the average and median pay of all employees, according to amendments to the Companies Act, which have been introduced into Parliament.

This is in addition to the disclosure of director pay, which is already a standing requirement of the act. On Tuesday, Minister of Trade, Industry and Competition Ebrahim Patel briefed the Portfolio Committee on Trade, Industry and Competition on proposed amendments to the act. The committee will hold public hearings on the proposed changes in October. Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.

 

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