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Strike Action Across Public Unions Could Amount to 800,000 Workers

SOUTH AFRICA
  • Strike action across a number of public unions became more likely yesterday as four unions representing as many as 800,000 workers were issued with strike certificates, according to BusinessDay. The certificates give the unions the right to give seven-days notice to their employers before undergoing industrial action, and follow the failure of negotiations to pass a wage deadlock.
  • Eskom’s future coal-fired power generation plans could cost as much as R170bln, according to the Daily Maverick, but critics have warned that such spending is comparable to historic investment in coal, and has only resulted in deteriorating services. The report is adding pressure to Eskom’s board to pivot toward renewable energy.
  • In a splash piece for news24, Stanlib’s chief economist Lings has flagged that the next six months will be tougher for South Afrrica, with riding global inflation and interest rates to contain economic activity.
  • South African press picks apart yesterday’s speech from SARB governor Kganyago, flagging his view that inflation may have peaked in South Africa, but the central bank cannot yet claim victory over inflation.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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