Khaya Sithole is a chartered accountant and host of Power Business. Tracey Davies is the executive director of non-profit shareholder activism organisation Just Share.
In response to proposed amendments that aim to improve transparency on wage inequality, business has deployed a barrage of conjecture-based scare-mongering to whip up opposition to the legislation.
It is, perhaps, a universal truth that the rich will express great concern about the need to tackle inequality, as long as they remain untouched by any measure proposed to reduce it.
This truth has been on vibrant display since the publication on 1 October of the Companies Amendment Bill for public comment. The stream of objections from corporate SA relates mainly to the bill's long-overdue provisions on wage gap disclosure, especially in relation to disclosing the gap between the highest and lowest paid employees.
Few corporate leaders who engage honestly would deny that the nature of inequality in this country is unrivalled in scale and depth and that tackling it should be our most urgent priority. Wage gap disclosure can help to create awareness of the prevalence and persistence of income and wealth inequality and improve our understanding of how they contribute to the wider manifestations of...