Windfall for Vodacom employees

Vodacom will spend R1.1-billion on an employee share ownership scheme as part of its R17.5-billion broad-based black economic empowerment deal – the biggest BEE deal in the telecommunications sector. The scheme will benefit 4‚637 permanent employees in South Africa.

“The employee share scheme effectively is for all employees‚ but black employees and [especially] black female employees will obviously get the lion’s share‚” Vodacom Group CEO Shameel Joosub told Business Day.

It was targeted more towards general staff as opposed to management‚ he said.

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By: Nick Hedley

Source: TMG Digital.