Vodacom Opposes Order to Pay Ex-Employee Billions of Rand [BNN Bloomberg (Canada)]
VODACOM GROUP LTD S/ADR (VDMCY)
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Source: BNN Bloomberg
billions of rand in compensation for an idea he proposed more than two decades ago. The SCA ruled earlier this month that Kenneth Makate should be compensated within a range between 29 billion rand ($1.5 billion) and 55 billion rand, according to calculations by local online news outlet, MyBroadband. A previous order by the Constitutional Court said Vodacom's CEO Shameel Joosub should work out fair compensation - which Joosub calculated at 47 million rand at the time. The latest move by Vodacom will put a pause on the pay out order by the Supreme Court. The ruling by the SCA contained aspects “which do not accord with the spirit of the law and that the judgment and order are fundamentally flawed,” the company said in a statement on Wednesday. The “orders are unintelligible, incomprehensible, and vague rendering them incapable of implementation and enforcement,” Vodacom said. The case has gone back and forth for many years as Vodacom and Makate wrangle over compensation for the
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