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Unions Embark on Indefinite Steel/Engineering Strike, Parties Compete for NMB Metro

SOUTH AFRICA

LOCAL NEWS

  • Union Numsa and steel engineering groups set to embark on a national strike today over wage disagreements with employers.
    • Analysts have warned that they could be damaging to the construction sector, given the 'indefinite' nature of the strike – especially amid SA's fragile recovery. Marches are planned for the Eastern, Northern & Western Cape and KZN
  • The DA & ANC have both been fiercely campaigning in Nelson Mandela Bay with eh ANC hoping to retain 51% of the vote there.
    • Political analyst says he does not believe either party will have an outright majority in the metro with voters disappointed with the DA-led coalition and the ANC having no track record of success there
  • State insurer Sarisa says it needs additional financial assistance from the Treasury on top of the R3.9bn already provided.
    • R5.8bn has already been paid out of ~R25bn in claims. Sarisa says this amount will be concretised in the 2022 budget
  • Major insurance companies set to increase insurance premiums for unvaccinated clients. Sanlam has joined Discovery life, saying new applications for personal life cover from Sanlam Individual Life take into account an individual's Covid-19 vaccination status.

Data:

  • 0815BST: Sep Standard Bank SA PMI exp at 50.1 vs 49.9 prior
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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