Management Business News Features

“Changes proposed to South Africa’s Basic Conditions of Employment Act (BCEA), Labour Relations Act (LRA) and Employment Equity Amendment Bill (EEAB) will have a significant impact on how employers conduct their business in 2013,” says Cooper.

According to government’s National Development Plan (NDP,) which aims to eliminate poverty and reduce inequality by 2030, South Africa can realise its developmental goals by, amongst other things, drawing on the energies of its people; building capabilities; and promoting leadership and partnerships throughout society.

Over 52% of SA executives are unaware of pending changes, which will affect the reporting of leases and will markedly alter balance sheets, thereby inter alia impacting debt-to-equity and return-on-investment ratios.

The latest research by the African Management Institution (AMI) shows that the continent is severely lacking in managers with the skills to advance its economy. “Africa is a continent that is going through an economic growth spurt and is brimming with talent but is tragically short of the skills needed to support this,” says Director of the University of Cape Town’s Graduate School of Business (GSB), Walter Baets.