Union cleared to strike over black employees' scheme at S.Africa's Sasol
(Adds Sasol comment)
JOHANNESBURG, June 14 (Reuters) - South African government
mediators on Thursday cleared the Solidarity trade union to
strike in a dispute with energy giant Sasol over its
plan to launch a share ownership scheme exclusively to black
Under black economic empowerment 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.
Sasol plans to sell 25 percent of its local operations to
mainly qualifying black employees in 21 billion rand ($1.58
billion) deal that would be vendor-financed by the company.
Solidarity called the scheme, dubbed Khanyisa employee share
ownership plan, "blatant discrimination against loyal Sasol
But Sasol, world leader in the technology that converts coal
and gas to fuel, defended the scheme on Thursday.
"The Sasol Khanyisa ESOP is not a company benefit or
compensation scheme," Sasol said in a statement.
"It was specifically designed to address the ownership
component of the broad-based Black Economic Empowerment Codes
and therefore primarily focuses on the inclusion of black
employees, as defined by the Codes."
Solidarity, which represents predominately white workers,
said it would seek a mandate from members to strike. It would
have to give Sasol at least 48 hours notice before going on
strike, under labour law rules.
Sasol said it would meet Solidarity leaders to establish
($1 = 13.2987 rand)
(Reporting by Joe Brock and Tiisetso Motsoeneng; editing by
John Stonestreet and David Evans)
First Published: 2018-06-14 12:14:27
Updated 2018-06-14 17:13:29
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