Thungela employees have a reason for smiling.
They just received a huge bonus.
Thungela’s Sisonke Employee Empowerment Scheme (“Sisonke” or the “Scheme”) paid its first allocation of R387m to employees.
This first disbursement is based on the dividends declared for the 2021 full-year results as well as the 2022 half-year results. More than 3 500 employees are set to benefit.
Formerly termed the Employee Partnership Plan (EPP), Sisonke will now be referred to as the Employee Empowerment Scheme.
Sisonke, is an isiZulu word meaning ‘we are together’.
The name was decided through a staff competition and is reflective of the company’s purpose.
“This is a milestone for the business and indeed all eligible Thungela employees. It is a testament to Thungela’s vision to responsibly create value together for a shared future,” said Paulos Soviya, chairman of Sisonke’s board of trustees.
“Sisonke intends to ensure that one of the most important stakeholders, Thungela employees meaningfully benefit from the growth and profits of the business. We are proud and humbled that this is a reality. Thungela employees and their families will benefit from the commitment and hard work that has contributed to our success and we thank them for their contribution,” said the executive head of human resources, Lesego Mataboge.
“The successful launch of Sisonke Employee Empowerment Scheme is because of fruitful engagement between the employer, National Union of Mineworkers (NUM) and the board of trustees. We are confident that Sisonke will create real benefits for employees,” said employee representative Bongani Mahungela.
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