Fin24 reports that Economic Development Minister Ebrahim Patel announced on Thursday that government would be looking to creating opportunities for workers to participate as shareholders in companies and having representatives on company boards.  

Delivering his budget speech, Patel said:  "We must build our own economic co-determination model in which workers and investors cooperate in growing the economy, creating more jobs and ensuring that the wealth generated in the economy is more fairly and equitably distributed.”  He went on to state:  “High levels of economic concentration and racially-skewed ownership profiles stunt economic growth, prevent entry of new players, reduce consumer choice, limit the levels of innovation and dynamism in the economy and feed a growing resentment among black South Africans of the failure to realise the vision of the Constitution.”

• Read this report by Liesl Peyper in full at Fin24
• See too, Patel: Werkers moet aandele kry, at Netwerk24 (limit on access)

Get other news reports at the SA Labour News home page