SASOL: 55,308 0 (0.00%)
South Africa's Solidarity union to strike at Sasol over black staff scheme
(Adds Sasol comment)
JOHANNESBURG, Aug 28 (Reuters) - South Africa's mainly white
Solidarity union said on Tuesday it had threatened Sasol
with a strike over a share ownership scheme offered
exclusively for black staff unless its workers were also
included or received a similar offer.
The energy giant has sold 25 percent of its local operations
to qualifying black employees, a foundation and the black public
in a 21 billion rand ($1.5 billion) deal that has been
vendor-financed by the company.
The world leader in technology to convert coal and gas to
fuel has defended the scheme, saying it was not a benefit but a
mechanism designed to meet South Africa's rules on black
Under the rules, South African companies are required to
meet quotas on black ownership, employment and procurement as
part of a drive to reverse decades of exclusion under apartheid.
The union said the scheme excluded white staff and foreign
nationals, and its workers should be included or offered other
It said a majority of its members had voted to serve a
48-hour strike notice but added that did not necessarily mean
that it would hold the industrial action after 48 hours.
"This type of crude racial exclusion cannot be tolerated any
longer. These white workers are also valuable," Solidarity Chief
Executive Dirk Hermann said in a statement.
Sasol said in a statement that the purpose of the scheme,
called Sasol Khanyisa, was meant to create a "meaningful
financial benefit for approximately 230,000 black shareholders,
including qualifying black employees."
"Notwithstanding the absence of specific dates of the
planned strike action, Sasol has activated contingency measures
to minimise potential disruption to our operations," it said.
Shares in Sasol were little changed at 556.73 rand as of
($1 = 14.6363 rand)
(Reporting by Tiisetso Motsoeneng
Editing by James Macharia and Edmund Blair)
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