Ebrahim Patel, Minister of Trade, Industry, and Competition, highlighted the significant increase in job creation attributed to Employee Shared Ownership Programs (ESOPs).
Speaking at the inaugural Worker Shared Ownership conference in Sandton, Johannesburg yesterday, Patel noted that since 2019, the worker-shared ownership program has been gaining momentum, aiming to drive economic growth and reduce poverty and inequality in the country.
He stated, "To address inequality while also promoting growth and social cohesion, one aspect of this program is the initiative to encourage more meaningful worker ownership and participation in the economy. Today, workers across South Africa have the opportunity to become owners in the companies they work for, enabling them to make substantial contributions to the success of those companies."
