You are currently viewing our desktop site, do you want to download our app instead?
Moneyweb Android App Moneyweb iOS App Moneyweb Mobile Web App

NEW SENS search and JSE share prices

More about the app

Eskom offers workers 1.5% wage increase

Far below the above-inflation demands made by its trade unions.
Image: Waldo Swiegers/Bloomberg

South African state power utility Eskom on Monday said it was offering a wage increase of 1.5% to workers, far below the above-inflation demands made by its trade unions.

The struggling company, which produces the vast majority of the power in Africa’s most industrialised nation, has previously warned that disputes during the current round of wage negotiations could impact its ability to supply electricity.

It began wage talks with the National Union of Mineworkers (NUM), the National Union of Metalworkers of South Africa (NUMSA) and Solidarity early this month.

NUM demanded a salary increase of 15% in the 2021/22 financial year but would also consider a multi-year agreement, while NUMSA wants a one-year 15% salary increase and Solidarity is seeking a 9.5% annual increase over multiple years.

Inflation is currently around 3%.

Eskom said in a statement that its wage offer was conditional on labour representatives accepting amendments to staff conditions of employment including overtime rates and travel time. Negotiations are ongoing.

The utility, which is choking under more than R460 billion ($32 billion) of debt, imposes regular power cuts as it grapples with repeated faults at its ailing coal-fired power stations.

COMMENTS   5

Sort by:
  • Oldest first
  • Newest first
  • Top voted

You must be signed in to comment.

SIGN IN SIGN UP

Now we know suddenly load shedding is all the rage again in Gauteng

Give them -150 % and they will accept !! Mathematically challenged individuals !!!

How dare they ask for any increase?

This is just the beginning! Later we shall learn that government relented and offered a 6% salary increase plus a “kiss and make up” bonus of R5,000 (probably tax free like before).
The Corrupt ANC have absolutely no “backbone” and are readily intimidated by the unions, the taxi associations, the Cape gangsters, the construction mafias, etc.
The usual Corrupt ANC activity: Say one thing, do the exact opposite, preferably do nothing.

End of comments.

LATEST CURRENCIES  

USD / ZAR
GBP / ZAR
EUR / ZAR
BTC / USD

Podcasts

INSIDER SUBSCRIPTIONS APP VIDEOS RADIO / LISTEN LIVE SHOP OFFERS WEBINARS NEWSLETTERS TRENDING PORTFOLIO TOOL CPD HUB

Follow us:

Search Articles: Advanced Search
Click a Company: