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South Africa: Banking Sector Strike Likely to Impact SARS Pay-Outs
SAnews.gov.za, 23 September 2019
The South African Revenue Service (SARS) on Monday urged taxpayers to conduct any tax transactions ahead of the anticipated banking sector strike later this week. Read more »
Banking Sector Strike to Cripple South African Transactions
As many as 50,000 workers will protest retrenchments in the banking sector in a nationwide strike that will see ATM and card transactions, as well as tax-related payments, affected.
InFocus
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The country faces an unemployment rate of 29% with well over half of its youth unemployed, Statistics South Africa has said. The report comes after President Cyril Ramaphosa warned that many South Africans are in danger of losing their jobs when he spoke at the University of Johannesburg's 25 Years of Democracy Conference.
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Standard Bank has announced that it will realign its retail and business banking delivery model to the changing needs of customers, amid rapid adoption of digital banking products and services. This will see the banking group close 91 branches with 1,200 job losses in the pipeline but the bank says it may be less, as some staff will be reskilled for other positions.
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