OLD MUTUAL R4bn COVER

Old Mutual today announced that it is making R4 billion worth of cover available to approximately 430 000 registered healthcare workers across South Africa. Unlike with traditional cover offered, this is neither a product nor a policy and no premiums will be recovered on it.Instead, the cover will be freely accessible to registered healthcare workers on the frontlines of the Covid-19 pandemic who are selflessly working to ensure the wellbeing of impacted South Africans everywhere, every day. Explaining the initiative, Interim CEO Iain Williamson said that the business’s decision to…

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FIRST RAND CUTS PAY

FirstRand Limited today announced that the group’s CEO, COO and CFO, and the CEOs of its largest businesses, FNB, RMB and WesBank, will forego 30% of their salaries for three months. FirstRand CEO, Alan Pullinger, said that the group wanted to demonstrate unity with the President and his ministers, who on Thursday night made the same pledge.“The President’s request is meaningful, and we believe he is right to ask business leadership to step up and make the same sacrifice, particularly given what is at stake for our country,” he said.…

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NEASA RESPONDS TO NUMSA

The National Union of Metalworkers (NUMSA) has lashed out at NEASA in response to factual statements made by NEASA, emanating from certain demands NUMSA has made to employers during the COVID-19 lockdown. The statements made by NEASA were all based in law and aimed at clearing up the legal position, which was entirely misrepresented by NUMSA. The lockdown was not implemented due to the fault of either the employer or the employee but is a necessary measure enforced by government. The result hereof is that the contract of employment between…

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