We hope this message finds you well.
The Association of Black Securities and Investment Professionals (ABSIP) is reaching out to our valued members in response to the recent signing of the Employment Equity Amendment Bill by President Cyril Ramaphosa. We are concerned that this new legislation may undermine the progress that the sector has made on transformation and hinder our collective efforts to achieve diversity, inclusivity, and equity.
We believe that the new rules exempting companies with less than 50 employees from BBBEE compliance regardless of their annual turnover will have a negative impact on the representation of black professionals in the workplace. This will not only delay our progress towards diversity and inclusivity, but it may also reverse the gains we have made to transform the face of SA Inc. The legislative journey of the Bill can be found on this link https://pmg.org.za
In light of these developments, we are calling on all ABSIP members to submit their
views and opinions on this matter. We need your collective input to draft a comprehensive submission regarding this development. Your comments and inputs are essential to our ability to influence the legislative process.
Please submit your comments and inputs to Thulebona Mhlanga by Friday, 28 April 2023. We value your voice and look forward to hearing your thoughts on this matter.
Thank you for your continued support of ABSIP.
Employment Law Alert PDF-Download