This news aggregator site highlights South African labour news from a wide range of internet and print sources. Each posting has a synopsis of the source article, together with a link or reference to the original. Postings cover the range of labour related matters from industrial relations to generalist human resources.
TechCentral reports that several former executives at Dimension Data are caught up in a fraud scandal following a forensic probe into the December 2019 sale of The Campus, its iconic head office in Bryanston, Johannesburg.
The developments have created a crisis for Dimension Data, putting the sale of The Campus in jeopardy. The company also risks losing its broad-based black economic empowerment rating. This comes after Dimension Data’s parent company, Japan’s NTT, appointed the international law firm Herbert Smith Freehills to conduct a forensic investigation into allegations brought forward by a whistle-blower. The developments are likely to prove a big test of the leadership skills of newly appointed Dimension Data CEO Werner Kapp, who took over the reins from the long-serving Grant Bodley on 1 April 2021. Speaking on Thursday, a Dimension Data spokesman declined to name the executives concerned. However, the company said the former executives had failed to disclose their personal financial interest in the sale of The Campus. This has created a crisis for Dimension Data – and for parent NTT – because such disclosure is required under the Companies Act and “could affect the validity of the transaction”. As part of the sale transaction, Dimension Data agreed to set aside 15% of its equity in its SA business for a new empowerment-based staff share scheme, which would also include selected white and black senior managers of the IT group.
- Read the full original of the detailed report in the above regard by Duncan McLeod at TechCentral
Get other news reports at the SA Labour News home page