Trade dept reiterates commitment to helping Coke employees get shares

Minister Ebrahim Patel said the agreement will strengthen a more inclusive transformation and BBE model.

Picture: Supplied.

JOHANNESBURG - The Department of Trade and Industry on Friday reiterated its commitment to the Coca-Cola beverages employee BBBEE ownership scheme - which it said would give employees a significant stake in the company.

Thousands of truck drivers and various employees, who claim part-credit for Coke's local success in getting the soft drink across the country, will now own about 20% of Coca-Cola's equity.

Minister Ebrahim Patel, together with the managing director of Coca-Cola, announced the agreement during a media briefing.

Patel said the agreement would strengthen a more inclusive transformation and BBE model.

“Coke will include worker participation on the board of the corporation. Workers will have two seats on the board and this will help bring insights and concerns of the workers to the company.”

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