Ramaphosa signs big change for companies in South Africa

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President Cyril Ramaphosa has signed the Companies Act into law, which brings big changes to pay disclosure.

South African President Cyril Ramaphosa signed amendments to the country’s Companies Act which will require firms to disclose the pay gap between their highest- and lowest-paid workers.

The Companies Amendment Act “addresses public concerns regarding high levels of inequalities in society by introducing better disclosure of senior executive remuneration and the reasonableness of the remuneration,” the Presidency said.

 

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