Employment and Labour concerns over Compensation and UIF Investments in Daybreak Foods

The Department of Employment and Labour, through both the Compensation Fund (CF) and the Unemployment Insurance Fund (UIF), has noted with concern recent media reports indicating that Daybreak Foods, an entity in which investments have been made via the Public Investment Corporation (PIC), is facing significant operational, financial, and reputational challenges.

As funds mandated to safeguard and grow the financial resources intended to benefit workers, including those injured on duty and those who are unemployed, the CF and UIF are committed to ensuring that all investments made on their behalf align with their respective investment policies and deliver sustainable, long-term returns.

Our investment principles emphasise rigorous due diligence, sound governance, and effective risk management. We expect all investee companies to uphold the highest standards of financial integrity, operational performance, and corporate governance.

The Department is currently engaging with the PIC to seek clarity on the status of this investment and to assess any potential impact on the portfolios of both Funds. Appropriate measures will be taken to protect the interests of our stakeholders and to ensure accountability.

Enquiries, 
Teboho Thejane
Departmental Spokesperson
Cell: 082 697 0694
E-mail: teboho.thejane@labour.gov.za 

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