Fri Oct 28 19:53:12 SAST 2016
Gender equality - Stock image
Security guards get two years’ pay after being fired for being women

Twenty-eight female guards were unfairly dismissed by a security company because the client‚ Metrora.

More directors are quitting, 'creating a worrying vacuum for South Africa's fledgling economy'

By unknown | Aug 10, 2007 | COMMENTS [ 0 ]

Robert Laing

Robert Laing

On Monday, Anglo Platinum chief executive Ralph Havenstein quit. On Tuesday it was AngloGold Ashanti's Bobby Godsell, and on Wednesday Harmony Gold's Bernard Swanepoel.

Never mind the workers, are the bosses on strike?

The number of directors in South Africa fell by nearly 7percent to 2932 from last year's 3139, a census by the Businesswomen's Association found.

The survey found while the number of female chief executives grew from seven to eight, the total number of chief executives dwindled from 343 to 318.

"A cursory glance of the newspapers confirms what we've all been suspecting for some time that more and more directors are quitting their board positions, creating a worrying vacuum for South Africa's fledgling economy," Institute of Directors in Southern Africa executive director Tony Dixon said.

Although the real reasons so many chief executives are quitting may not be made public, "they may be rather cruder than most are willing to admit", Dixon said.

One source of frustration for local corporate heads in South Africa is still hobbled with economic handicaps like parastatal monopolies while its global competitors are working fast to make their economies more efficient.

Unlike developed countries, which are cutting red tape and doing all they can to make their business community more competitive, South African entrepre-neurs find the list of political imperatives that they have to accommodate keeps growing.

Dixon said: "There is a pressing need for the government to reduce the red tape that threatens to hold back significant economic growth over the next few years."

South Africa is rapidly losing some of its best directors to overseas companies.

"While the demand for skilled directors is steadily increasing in the country's growing economy, the pool of suitably experienced candidates continues to shrink at a disturbing rate," said Dixon.


Login OR Join up TO COMMENT