Tuesday, January 23, 2018

Unequal South Africa

Shoprite’s chief executive, Pieter Engelbrecht, earned 1 332 times more money than the average salary of an employee.

Naspers’ chief executive Bob Van Dijk earned 264 times more than an average worker.

Steinhoff’s former chief executive Markus Jooste earned 234 times more.

Siphokazi Mthathi, Oxfam SA’s executive director, said this was why she believed capitalism to be a “crime against humanity”, as companies with gaping wage inequalities, which are entangled in graft, continue to reward billionaires at the expense of ordinary workers.
“We outline in the report that the wealth that the marginalised produce, but don’t benefit from, should be considered a crime against humanity. The humanity we are talking about are the 3.7 billion people who continue to be excluded from benefits, yet their labour is extracted to feed and bolster the profits of the wealthy. Free market capitalism has not worked for the majority of the world’s people,” Mthathi emphasised.

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