Cosatu Says Union Treatment of Ramaphosa Unacceptable, But a Warning to the ANC

LOCAL NEWS

• Union Cosatu says Ramaphosa being chased from its rally is unacceptable, but a warning to the ANC. Ramaphosa was unable to make an address at the Royal Bafokeng stadium on Sunday as union striking workers from Sibanye-Stillwater refused to calm down as the strike enters the third month. Cosatu says this event reflects workers’ growing frustration. – News24
• Analysts say they’re doubtful that Sibanye will cave to demands for a R1000/m raise, even as workers threaten to intensify strike action starting from today.
  • A meeting between mine management and government was scheduled to be held on Monday with workers still pushing for R1000/m vs SSW’s offer of R850/m. operations at the mine remain at a standstill - EWN
• Labour Union economist says the future of unions does not look good in SA unless the reinvent themselves. Says membership has dropped drastically in recent years – EWN.
  • This is a positive for SA’s fiscal consolidation push as the unions are a key obstacle to labour market reform and compressing the public sector wage bill. Wage negotiations started on Friday and will be a key barometer of union power with govt pushing for a 0% real increase for the next 3 years

Data:

• 0800BST: Apr Absa Manufacturing PMI, 60.0 prior