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eNCA Reports NUM, Numsa Have Accepted Eskom Wage Offer

SOUTH AFRICA
  • eNCA reports that both the NUM and Numsa unions have accepted the 7% pay rise offer from Eskom, in a deal that should end weeks-long strikes that have prompted load-shedding and various blackouts.
  • Recall that today, unions are meeting with Eskom management to further discuss last week’s pay rise offer - appears that unions are now accepting the 7% offer that had previously been rejected.
  • No meaningful reaction in USD/ZAR on the headlines, but the pair is off the session's best levels. Pair trades just above 16.40, with 16.4660 the session high.
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  • eNCA reports that both the NUM and Numsa unions have accepted the 7% pay rise offer from Eskom, in a deal that should end weeks-long strikes that have prompted load-shedding and various blackouts.
  • Recall that today, unions are meeting with Eskom management to further discuss last week’s pay rise offer - appears that unions are now accepting the 7% offer that had previously been rejected.
  • No meaningful reaction in USD/ZAR on the headlines, but the pair is off the session's best levels. Pair trades just above 16.40, with 16.4660 the session high.