Transnet and UNTU bury the hatchet as strike comes to end

South African industries across the board uttered a collective sigh of relief yesterday (17 October) when the week-long Transnet strike was finally resolved.

Ian taylor j Oq Jbvo1 P9g unsplash

The strike brought ports to a standstill and severely affected imports and exports. This was particularly acute at Durban, serving Toyota and other major exporters, and Gqeberha, which serves Volkswagen and other major exporters.

On Monday, Transnet reached a three-year wage deal agreement with the United National Transport Union (UNTU), which represents more than 50% of unionised staff. It is expected that the other unions will follow suit, and news reports already indicate that many workers are returning to their stations.

The deal includes a 6% increase in year one, a 5.5% increase in year two, and a 6% increase in year three, as well as medical aid and housing allowance increases.

Some analysts were surprised by the fact that the union, which until recently demanded a 12% wage increase, settled for a below-inflation deal.

The deal will apply to all workers in the sector (including non-unionised employees) with effect from 1 October.

More Industry News stories

Interest rate drop is good news, says NADA

Interest rate drop is good news, says NADA

The Reserve Bank (SARB) has announced a 25-basis-point cut to the repo rate, reducing it to 7%. As a result, the prime lending rate for commercial banks will drop to 10.50%.

  • 1 August 2025
AAAM appoints new project manager

AAAM appoints new project manager

The African Association of Automotive Manufacturers (AAAM) is accelerating its efforts to strengthen industrialisation and develop Africa's automotive value chain through the appointment of a new Project Manager.

  • 1 August 2025
AI investments put insurance companies at risk

AI investments put insurance companies at risk

While artificial intelligence (AI) investments offer substantial growth and profitability opportunities for insurance companies, they also introduce new risks that could significantly impact financial performance and credit ratings if not properly managed, according to Morningstar DBRS analysts.

  • 1 August 2025