Herman Mashaba, speaking at the launch of a R200m FNB business development fund targeting small enterprises in Sandton, has spoken out clearly against the debate on the so-called minimum wage, which he regards as a terrible mistake and argues that small enterprises will suffer. He endorses the virtues of the capitalist system, which provides goods and services and adds value to the lives of many. He asked what has been achieved during the last 20 years to enable enterprises to flourish and concludes that as a country we have failed dismally. He calls for a legislative framework that can develop small enterprise.
Samuel Mungadze’s report Mashaba believes minimum wage concept is a mistake first appeared in Business Day yesterday.