SACTWU’s HCI stake comes under scrutiny as 171 eNCA jobs face axe
The proposed retrenchment of 171 eNCA employees has highlighted the competing interests facing SACTWU, which represents workers but is also HCI’s major shareholder, with HCI the ultimate holding company of eMedia Holdings.
The Southern African Clothing and Textile Workers' Union (SACTWU), a trade union with significant ownership in corporate group eMedia Investments, is facing scrutiny over its dual role as a trade union and major investor in eMedia Holdings, where 171 eNCA employees face possible job cuts. SACTWU's ownership interest in HCI, eMedia Investments' majority shareholder, creates a potential conflict of interest when eNCA begins retrenchment consultations. eNCA's managing director stated the proposed restructuring is due to declining television news consumption patterns. eMedia declined to comment on the retrenchment process, while SACTWU has not yet responded to inquiries.
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