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White Sasol employees granted permission to strike

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South African energy and chemical company (Saso)l employees were reportedly granted permission to strike due to an employee-shareholding plan that excludes white staff.

Labour union, Solidarity which represents majority of white workers reportedly lodged a complaint with the Commission for Conciliation, Mediation and Arbitration (CCMA). 

The matter was reported after the energy company allegedly introduced certain benefits that would exclude employees, based on their race, reports Fin24. 

These plans were put into place in order to tackle economic inequalities stemmed from the past. The plan of note, called Khanyisa, will reportedly discriminate against white workers as it disregards them. 

The matter that was taken up by Solidarity was first referred to the CCMA, following which a certificate was awarded which granted workers permission to enter a strike. 

In other Sasol news, AYO Technology Solutions’ share price surged 20% on Friday as the group’s recently announced deal with energy giant Sasol continued to add gloss to it.

AYO’s stock ended the trading week at R36, valuing the group north of R12 billion. The company, a spin-off of African Empowerment Equity Investments, last week said it had signed a multi-year information and communication technology services contract with Sasol. 

It would provide and manage Sasol’s entire global technology network, communications and security services. The contract is rumoured to be in excess of R2bn. 

The company said the deal “is expected to have a material impact on the revenue and earnings of AYO Technology”.

Kevin Hardy, the chief executive of AYO, said the company was well positioned to take significant market share and to challenge and disrupt the South African ICT landscape. “AYO is looking to disrupt in everything it does and to challenge the status quo in the industry” said Hardy. 

“The group has attracted some very exciting acquisition propositions, which will further enhance AYO’s already substantial offering and will underscore our positioning as a truly transformed market leader and innovator.” The group’s “Go to” strategy aims to capture between 5 and 8% of the vast South African ICT market by 2022. 

The listing of AYO in December was the largest ever black empowerment listing of an information and technology group in South Africa.

 


 

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