In previous essays, I've shown how most South African state-owned institutions are crumbling…
The SABC management and finances are in constant disarray, so is Eskom, Sanral, SAA, the postal service and the education system…
Just look at this quote from Robert McNamara, ex-president of the World Bank, during visit to South Africa in 1982.
"I have seen very few countries in the world... ››› more
The Medupi power plant has made the headlines over the past few years as delays and rising costs continue to plague its opening.
And now work at Eskom's power plant is under further strain as interruptions hit the plant's construction for a second day.
Let's take a closer look at what's going on…
Eskom claims workers are blocking other workers from entering Medupi
Earlier today, E... ››› more
This morning, Eskom announced that it sacked around 1,000 workers who embarked on a one-day strike at its Medupi power plant.
The workers are not employees of Eskom, they're employed through contractors.
Let's take a closer look at what happened…
The dismissals follow a one-day strike at Medupi
A spokesman for Eskom says that around 1,000 workers at the “Medupi power plant have ... ››› more
Yesterday, reports suggested that the government was considering private investment into Eskom to help rescue the ailing power supplier.
Eskom is facing a funding gap of R225 billion. And last week, the parastatal stressed how critical a state its finances were in.
Let's take a closer look at what's going on…
Eskom’s future needs clarity and South Africa needs power
The Democrat... ››› more
Last week, Eskom took steps to ensure the National Union of Mineworkers (NUM) couldn't go on strike. In spite of this, around 450 workers staged a walk out in protest last Tuesday.
Yesterday, the union told Eskom that it demands a 12% wage hike at a small demonstration at the power supplier's headquarters.
Let's take a closer look at what's going on…
The NUM delivered a memo containi... ››› more
To find out what will be happening in the markets this week... Read below
Strike over?
The metal workers strike is supposedly over. The big union, NUMSA, and the main employer's body, SEIFSA, agreed to the terms of a new deal. Unfortunately a smaller grouping of employers, NEASA, is not happy with the deal and has locked out some workers. They claim that they shouldn't be ... ››› more
Earlier today, the National Union of Mineworkers (NUM) expressed its dismay that Eskom went to court to obtain an interdict to prevent any strikes taking place.
Eskom used its leverage as providing an essential service to obtain the court order.
Yet, despite this, hundreds of employees took part in a walk out today.
Let's take a closer look at what's going on…
The NUM is furious w... ››› more
Late yesterday afternoon, when it emerged the metalworkers strike was over after parties agreed on a deal, the rand strengthened slightly.
But by early evening it was already losing ground.
So what's going on with the local currency? Let's take a closer look…
The rand struggles to hold its ground
The rand traded weaker against the dollar this morning, reports Fin24. Offsetting the... ››› more
After downing tools on 1 July, the unions representing the striking metalworkers and the employers' representative agreed to a new wage deal today.
This brings an end to a four-week strike that saw some car manufacturers stopping production.
Let's take a closer look at the new wage deal…
Metalworkers should return to work tomorrow
This afternoon, the general secretary of the Natio... ››› more
The metalworkers strike is now four-weeks old. But again, there are glimmers of hope that involved parties will agree to a new wage deal.
The National Union of Metalworkers of South Africa (NUMSA) has suggested that a new development could help to bring an end to the strike. But the union is remaining guarded until it discusses these developments with its members.
Let's take a closer look at... ››› more
Earlier this week, a state proposal raised hopes that metalworkers would bring an end to a strike that is now in its fourth week.
The new proposal, which employer bodies reluctantly agreed to, looks likely to fall through. Today marks the deadline for accepting the deal.
Let's take a closer look at why the odds are stacking up against a resolution…
The NUMSA aren’t happy with changes ... ››› more
The metalworkers strike is now in its fourth week. But it looks like an end is in sight after employers accepted a new wage deal today.
The National Union of Metalworkers of South Africa (NUMSA) and other unions have until the end of the week to accept the new deal.
But the employers' representatives say the deal comes with a cost. Let's take a closer look…
The new wage deal sees wage h... ››› more
Yesterday it emerged that the six workers unions involved in talks have lowered their wage demands to the employer representatives.
More than 220,000 workers downed tools on 1 July. The strike has already led to stoppages in production at some car manufacturing plants.
Let's take a closer look at the new demands…
Talks over the weekend could bring an end to the metalworkers strike
Ove... ››› more
South Africa is heading down a dangerous path.
One described as rampant and uncontrolled unionism that if not halted, will become unaffordable.
For five months, Amcu lead crippling strikes in the platinum sector. A strike that won workers about R36,000 over three years, but cost them R52,000 in lost wages.
Then as soon as the platinum strike ended, NUMSA announced it would strike. And alr... ››› more
As the strike by metalworkers enters its third week, a speedy resolution doesn't look likely. Talks have reached a deadlock.
The Steel and Engineering Industries Federation of Southern Africa (SEIFSA) announced earlier today that it's withdrawn its latest wage offer.
The National Union of Metalworkers of South Africa (NUMSA) rejected the final offer by employee representatives on Sunday.
... ››› more
Last week was rather volatile as local and international news kept the market under pressure. On the local front, the NUMSA strike had its first full week. When the strike first started, I had expect it to be reasonably short as it seemed that a compromise increase of about 10% would be acceptable to both parties. However, as the week progressed, I have changed my view.
No end in sight
The... ››› more
Imagine knowing what news was going to be released in advance? How much would that help your trading? Would you ignore that information because “all you really need are technicals?” Of course not and yet, that is what many traders do.
Take me for example. During the NUMSA strike, I was able to bank 192% profit from it. And next time, you can too!
Let me prepare you so you don’t miss... ››› more
Since over 220,000 metalworkers affiliated with the National Union of Metalworkers of South Africa (NUMSA) downed tools a week ago, the rand has been under immense pressure. But with news emerging today that the strike may be nearing an end, the rand has firmed slightly. Let's take a closer look at what's going on with the local currency…
The rand claws back some ground
The rand strengthened... ››› more
Last Tuesday, saw the start of a mass strike by over 220,000 members of the National Union of Metalworkers of South Africa (NUMSA). As the strike reaches its second week, talks are to continue to bring it to an end. The strike has already led to the closure of car plants. Let's take a closer look at what's going on…
Metalworkers want wage hikes of up to 15%
Earlier today, the NUMSA said talk... ››› more
On Friday, around 2,000 workers at Impala Platinum (Implats) downed tools in a wildcat strike at the platinum producer's Marula mine. This comes just weeks after the five-month long strike in the platinum sector came to an end. Let's take a closer look at what's going on…
NUM members want higher wages
Employees of Impala “affiliated with the National Union of Mineworkers (NUM)” began str... ››› more
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