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BusinessLive reports that more than 460 domestic workers will own a portion of Durban’s exclusive R3.1bn Oceans Umhlanga development, thanks to the generosity of their wealthy employers.
The mixed-use development has been hailed as one of the largest investments in KwaZulu-Natal and construction is due to start in the next few months. The project is set to create 15,000 direct and indirect jobs and will create 2,500 permanent jobs once it is completed. During the launch, developers Vivian Reddy and Rob Alexander revealed that they had decided to buy their four domestic workers shares worth R10,000 each. The gesture from the founders seems to have caught on with other well-heeled investors. Since the launch, more than 460 other employers have decided to buy shares at the project for their domestic workers.
- Read this report by Nce Mkhize in full at BusinessLive
Get other news reports at the SA Labour News home page