Who would invest in a family that is suspected of being involved in something shady?
Well this is what has happened in South Africa. With President Zuma being shown up as an ineffectual leader especially after his self grandification and misuse of company money in Nkandla and then his not being a good leader in choosing his team he has brought the family (call it Black South Africa since we are talking about Black Business empowerment) into disrepute. The only way to bring back the investors is to remove that family and place people who are deemed competent in their place. This cannot happen when white male employees over the age of 50 years are being pensioned or retrenched off of our companies. People done invest in a country they invest in the companies in that country. See the 3 videos below on this page as how wealth is created.
What's more after the Companies Tribunal Seminar I got a ride with a lady from Rand Water and in the drive back to Sandton from Gallagher she was telling me how they were not happy with B-BBEEE either. The concept is misunderstood by both sides and is not helping with job creation. She was telling me about the need for respect. In her story she was saying that white senior managers are not giving black managers the chance to prove themselves and decisions they make are either being vetoed or simply trashed.
Beauty was telling me about her job where she was employed in human relations and how things can progress from bad white decisions. Apparently her company was taken to CCMA for discharging a black worker. What happened was that the boss on an off day shouted at the employee who took it personally. The employee ran to CCMA instead of looking for another amiable way to sort the problem. A company Tribunal may have helped in this circumstance.
The CCMA awarded the worker with the case and a year’s wages. The company appealed the case and lost yet again. Things take time and each case the delinquent worker won not only his pay but all the benefits and perks associated with his position in time scale in the company. This is not the only case Beauty told me but there about 12 such cases she knows about.
Had the company filed at the companies tribunal when the CCMA served them they could of not only saved themselves a lot of money but if the worker was worth his weight retained a good worker.
The tribunal is not there to judge but to hear both sides of the case and then to make recommendations, which could or could not further litigation for the matter.
Think wise and use the tribunal first.
What is BBEEE about actually Its not about empowering people but rather getting more money out of you. At a seminar I recently attended I was surprised to see so many companies offering BBEEE services so I looked closer. Some how I landed up on a database that demands R910 from you for listing your BBEEE status. The company markets its self as Opportunities Network. The company is about rating and keeping your BBEEE status up to date. I also came across another company that tells you how to go about being screwed. WHY on earth would a white business owner want to give 51 % of their company to some one else? Other than the gov demands it.