South Africa: Sacci Calls On Numsa to Return to Negotiations

The South African Chamber of Commerce and Industry (SACCI) calls on the leadership of NUMSA to delay the industrial action scheduled to start next week in the metal and engineering industry. If NUMSA is truly committed to cooperation with Government and Business to work towards a more prosperous South Africa, then it should return to the negotiating table and not put South Africa's economic stability at risk. This is especially pertinent given the severe economic impact of the prolonged platinum strike. A review of the industrial relations framework is also necessary to find ways to balance the rights of workers and the broader economy.

South Africa has less than six months left to convince credit rating agencies and the international community in general of our stability as an investment destination, which will require above-average levels of production and economic activity. The strike by the metalworkers will effectively erase the opportunity for South Africa to redeem itself and government bonds will most certainly be downgraded. This will in turn lead to higher cost of credit for the entire economy, from large corporate bonds to consumer credit.

...

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.