24 April 2024 - Midday News Bulletin by South African Government published on 2024-04-24T09:05:29Z President Cyril Ramaphosa yesterday addressed the Inaugural Worker Share Ownership Conference at the Sandton Convention Centre in Johannesburg. The conference aimed to serve as a platform for advocacy for Employee Share Ownership Plans (ESOPs). It celebrated their successes, raised awareness, and explored collaborative solutions to further promote their implementation. ESOPs gained prominence in South Africa in the late 1980s, notably with schemes introduced by Anglo-American and De Beers. This initiative was fuelled by the Broad-Based Black Economic Empowerment Act (B-BBEE Act) of 2003 and subsequent amendments, which mandated companies to adopt broad-based ownership schemes, including ESOPs. Genre News & Politics