South Africa to consider financial inclusion in new industrial policy

South Africa is considering legislative amendments for South Africa’s industrial policy to galvanise inclusive growth and build local industrial capacity. Trade and Industry Minister Ebrahim Patel stated that the new policy would include amendments to the company law to ‘tackle the gross injustice of excessive pay and give representation at board level to workers’. The Ministry will also appoint a taskforce to review the Black Economic Empowerment (BEE) framework to assess concerns that firms were not creating sufficient opportunities for their black workers to own shares.