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New law will reveal South Africa’s huge pay gaps | SA News

When amendments to the Companies Act are signed into law, companies will have to disclose the gap between the highest-paid and the lowest-paid employee. Graphic: Lisa Nelson

Amendments to the Companies Act will compel companies to reveal the gap between the lowest paid worker and the chief executive, essential information in a country often described as the most unequal in the world.

The amendment to Section 30 of the Companies Act has been passed by Parliament and is to be signed into law by the President.

It will compel JSE-listed companies and public companies like Eskom to disclose pay ratios, and give shareholders binding voting power on remuneration…

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