Business Unity South Africa has withdrawn its representatives from the Unemployment Insurance Fund board and NEDLAC structures. The move follows years of concerns over ineffective governance and mission drift at the fund.
Business Unity South Africa pulled its representatives from the Unemployment Insurance Fund board and NEDLAC last week. The group cited repeated failures to reach quorum at meetings and a lack of consequence management.
BUSA head of social and labour market policy Sanelisiwe Jantjies said the issues date back to 2022. She stressed that the withdrawal is unrelated to separate litigation over employment equity targets.
The Department of Employment and Labour said continued engagement is the best way to achieve reform. BUSA maintains the fund should focus on short-term insurance rather than venture-style investments.