Star 2024-05-02

THE SOUTH African Commercial Catering and Allied Workers’ Union (Saccawu) could be liable for nearly R9.4 million in damages to Massmart Holdings after its appeal against a Labour Court judgment was dismissed. This comes after Massmart sued Saccawu for damages of R9.38m as just and equitable compensation under Section 68(1)(b) of the Labour Relations Act (LRA) for losses the retail chain suffered after a strike turned violent. Massmart said it suffered millions of rand in damages as a result of unlawful conduct and offences during the course of an indefinite protected strike action called by Saccawu in November 2021 over wages and unilateral changes to working conditions by the retail group. The nationwide strike by Saccawu, which represents about 20 000 members at the retail giant, at times…

MTN NIGERIA Communications’ first quarter trading results do not paint a rosy picture, with subscriber numbers impacted by tighter government data controls and a net loss was reported due to further foreign exchange related losses. The group, which holds parent MTN’s biggest number of subscribers by country, increased its subscriber tally by 1.3% to 77.7 million in the quarter to March 31, but the figure was down by 2 million over the fourth quarter of 2023, due to the NIN-SIM directive, the telecoms group’s directors said in a trading update on Tuesday. The NIN is a digital identity unique to the cellphone SIM holder. It is used to match the individual with his or her biometrics (fingerprint and facial) data. Active data users increased 8% to 44.5…

MTN’s MANAGEMENT believe they are well positioned to deliver on their growth ambitions over the medium- term despite the tough environment that includes the devaluation of the Naira against the dollar, which in 2023 was the strongest headwind that the business faced. This was according to the integrated annual report released on Tuesday, which showed that president and CEO Ralph Mupita’s executive pay fell by R5.1 million to R70.64m for the 2023 financial year, after the group’s earnings and profits dropped significantly due mainly to the massive devaluation of the Nigerian currency, and high inflation. In the 2021, he had received R84m. He said in the report that a peak in the inflation cycle in some of the group’s markets, such as South Africa, Ghana and Uganda had been…

MANY ESTATE agents will be left unemployed and irreplaceable experience and knowledge will be lost, because of black empowerment rules being imposed on estate agents, Johan Roos, organiser of the Solidarity Communication and Marketing Network, said yesterday. The Property Practitioners Regulatory Authority (PPRA) has announced the requirement of level 8 black economic empowerment (BEE) scores for businesses in the real estate sector to obtain or renew their fidelity fund certificates. This will require black ownership of more than 50% of most businesses. Without these certificates, real estate agents cannot legally do business. Solidarity has warned there will be large-scale job losses in the real estate sector if the implementation of strict racial rules as a condition for issuing fidelity fund certificates is not prevented. “We are utterly concerned about these…

DR SAMUEL Mokgethi Motsuenyane was a towering, larger-than-life figure in the black business community due to his illustrious career and highly coveted accomplishments. Yet, he remained a humble soul who touched countless lives and empowered many business people as he continued to work long past his retirement age. Motsuenyane will now be remembered as a titan in the realms of business as he died peacefully on Monday “after a valiant and prolonged battle with illness”. He was 97. The news of his passing was confirmed by the Dr Sam Motsuenyane Foundation on Tuesday morning. The foundation’s chairperson, Professor George Lenyai, said Motsuenyane’s legacy extended far beyond his numerous professional achievements. “Dr Motsuenyane belongs to the ages; it will be an honour to him if we have learnt from him…

THE BLACK Business Council (BBC) has revived its call for the government to put the control of the African Bank in the hands of black people, particularly in memory of the late Dr Sam Motsuenyane, who led the establishment of the bank in 1974 and was its chairperson for 20 years. Motsuenyane, who has been hailed as the father of African Bank and a black business pioneer, passed away on Monday at the age of 97 after a long battle with illness. BBC president Elias Monage said on Tuesday that they cherished and adored the vision of the transformative agenda that Motsuenyane led during the early years of apartheid when he co-founded and led the National African Federated Chamber of Commerce and Industry (Nafcoc). Speaking on the sidelines of the…