Catzavelos posted the video on social media while holidaying in Greece.
“Amazing sea and not one k****r in sight”, he said to the camera.
The family business St Georges of which Catzavelos was a director lost at least two contracts as a result of the video.
The Economic Freedom Fighters (EFF) has also filed charges of racism against him.
The Kathrada Foundation’s Executive Director Neeshan Bolton says: “As soon as possible, we will engage with the Human Rights Commission on how best to take this thing forward. We are also in discussions with members from the Hellenic community in South Africa to look at joint actions with them and tomorrow onwards we will be in discussions with various legal people looking at other options that are available.”
Adam Catzavelos’ video caused such a stir on social media that there was a domino effect almost immediately.
Companies that had associated themselves with his family business quickly distanced themselves from him while his family released a statement announcing he had been sacked.
The statement reads in part, “The family of Adam Catzavelos is appalled by the video in question. It is abhorrent and we fully disassociate ourselves from the sentiments expressed. We reject racism in any form. Adam Catzavelos has been dismissed with immediate effect front he family business and his minority shareholding will be unwound as soon as practically possible.”
Users on Social Media have also reacted with distaste to Catzavelos’ video: