Ceppwawu members led the march to Sasol Head Office in Sandton on Monday, 19 Marching where they submitted a memorandum demanding answers on Inzalo Share Scheme.
Workers said they waited waited for the past ten years to benefit from the proceeds of the Company’s BBBEE empowerment scheme.
“This will no longer happen because according to the Company, share trading did not do well resulting in Inzalo shares yielding no returns.
“This statement from the Company is ironic in many ways.
“By merely enlisting workers as BBBEE shareholders the Company’s BEE rating improved from nothing to level six and it benefited the business of the Company,” said the Deputy General Secretary, Chief Seatlholo who added that workers too must benefit in the proceeds.
The Union said dividends were paid out in the process and as such their members saw it as evidence of positive performance of their shares in the process.
The Company was accused of refusing to divulge who constituted the board of trustees of Inzalo Share Scheme so that they are held accountable for failure to disinvest when oil prices plummeted.
“What is the Company hiding from workers, union members want to know,” added the deputy general secretary who further mentioned that union members see it as corporate daylight robbery.
The march by Ceppwawu members was said to have been joined by workers who are members of other unions and former Sasol employees who were retrenched and now their dreams of better redress are shattered down.
The union called for unity in these trying times.
The deputy secretary general also mentioned that they are sympathetic with members of the public who also invested their money in Inzalo but have lost out.
“We call on all who are cheated like us to join us in action or alternatively to apply pressure of Sasol in their own legal manners.
“Activist investment is what we need if the previously disadvantaged communities are to be empowered in the truest sense of empowerment.”
He concluded by saying, “The Company has unveiled the new share scheme known as Khanyisa into which when Company employees participate it will help shore the Company’s BEE rating from level six to level eight.
“More casualties are anticipated and investor activism must never wither.”