By Zuko Komisa
The Transnet strike is going to cost the economy billions
When it returns to the negotiations under the auspices of the Commission of Conciliation, Mediation, and Arbitration (CCMA) on Wednesday, Transnet announced that it would make another attempt to put an end to the unions’ crushing strike.
The United National Transport Union (UNTU) and the South African Transport and Allied Workers Union (Satawu) demanded double-digit raises as the strike began its seventh day on Wednesday.
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Kaya Biz with Gugulethu Mfupi spoke to Busi Mavuso is CEO of Business Leadership South Africa who gave an analysis of the ongoing dispute and how it could possibly cost the economy billions.
LISTEN TO THE FULL CONVERSATION HERE:
Transnet had put up a new offer of between 4.25% and 5% across the board, according to a statement from Satawu on Tuesday, but the union will reject the “so-called amended offer.”
Mavuso argued that the dispute is costing South Africa a lot of money on a daily basis.
“I think against the backdrop of high unemployment, low growth and rising living costs, we are doing an injustice to ordinary South Africans. This is taking away about R8 billion that needs to traded on a daily basis, on cargo that’s going in and out.”
“If you look at what the impact of all of this is you will see that one day of loss of activity in ports results in a minimum of 10 days of recovery. Whatever these 3 or so days is… is setting us back as a country,” says Mavuso.
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