Business Leadership South Africa (BLSA) chief executive Busi Mavuso has warned against sections of the Draft Companies Amendment Bill that will impact South Africa’s attractiveness as a place to do business.
In an article published on BusinessDay, Mavuso said that there were two critical issues with the bill:
- Listed companies are going to be required to disclose the ratio of the top-paid to the bottom-paid 5% of workers;
- A requirement to identify shareholders who are the “true or beneficial” owners of shares in a company.
“Taken together, these elements diminish the attractiveness of South Africa as a place for companies to do business by adding to all the other onerous compliance requirements.
“Why would a company, local or foreign, want to list on a South African bourse when we’re putting up so many obstacles while others are doing all they can to attract them? Already we have a problem with
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