Big six bank Absa, cited for not complying with some of South Africa’s employment equity laws, has insisted it was never issued a verdict of non-compliance and says it is fully compliant. Moneyweb EmploymentEquity
Big six bank Absa, cited for not complying with some of South Africa’s employment equity laws, has insisted it was never issued a verdict of non-compliance and says it is fully compliant. Responding to Moneyweb, the bank strongly denied to having been issued findings in any form, of non-compliance by the Department of Labour.
Affirmative action Mncanca-Bede previously said the biggest issue was in the affirmative action area, an employment policy that seeks to give previously disadvantaged groups equal opportunities. According to the department, the three banks have not been fully complying with the latest employment equity rules, introduced in 2018. As a result, they are not compliant with Section 20 of SA’s Employment Equity Act.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Banks lack affirmative action at executive levelTwo of the banks have expressed their intention to settle out of court. The third insists it is not in the wrong. Moneyweb Banking
Read more »
Banks lack affirmative action at executive level | The Citizen💸 👔 Three big-league South African banks found non-compliant with employment equity laws 📉🏛 Read more on TheCitizenBusiness👇
Read more »
Absa slashes forecast for SA’s economic growthGDP downgraded as severe load-shedding continues to weigh heavily on business confidence
Read more »
Standard Bank defends use of fossil fuel in AfricaJust Share says the bank’s exposure to coal mining, oil and gas and power generation from fossil fuels rose 21% in 2022
Read more »
Reserve Bank clarifies ‘spelling error’ on new banknotesReserve Bank governor Lesetja Kganyago says it highlights an important debate in South Africa.
Read more »
Reserve Bank sharpens its tools for interest rates in South AfricaThe deputy governor of the Reserve Bank explains a system update that could influence interest rates.
Read more »