Today's Labour News

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easterncape thumb100 ANA reports that Eastern Cape MEC for Eastern Cape Rural Development and Agrarian Reform, Mlibo Qoboshiyane, is expected to visit the Magwa Tea Estate in Lusikisiki next month for the first harvest following four years of dormancy.  

As part of the processes to rescue the province’s two tea estates, the provincial government resolved to issue an expression of interest call aimed at attracting the private sector to invest in the incorporated tea estate.  Majola Tea Estate was incorporated into the Magwa Tea Estate following a court process after workers resolved to join the two estates to form a single incorporated estate.  This year a new shareholding structure was developed to attract private sector investors.  The proposed new shareholding structure of the incorporated tea estate would give the private investor a controlling 51% shareholding, 26% to the community, 13% to the employees of the tea estate and government would hold 10%.  Stakeholders associated with the tea estate operations are being consulted and engaged in the process of the business rescue plan as well as on the long-term financial sustainability of the tea estate.

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