Only 5% of chief executives are women and the gender pay gap is most pronounced in the top JSE-listed companies, according to a PwC report released on Thursday.
pandemic disproportionately affected women’s remuneration and partially reopened gaps that had already been closed.
South Africa ranks relatively high on the WEF’s pay gap index, at 18. However, according to the index, the country made very little progress in closing the pay gap between 2006 — when the WEF first started tracking wage parity — and 2021. Iceland, Finland and Norway top the index with the smallest gender pay gaps.
The PwC report noted that current draft legislation aimed at addressing wage inequality did not directly address the gender pay gap. Amendments to the Companies Act, published for public comment in 2018, do not make the provision for the disclosure of the gender pay gap.Ebrahim PatelAccording to Patel, the bill will require disclosure of wage differentials in companies and stronger governance on excessive director pay.
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