South African industries across the board uttered a collective sigh of relief yesterday (17 October) when the week-long Transnet strike was finally resolved.
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.
Given the ongoing discussions about logistics efficiency, diesel price volatility and the broader freight performance outlook in South Africa, Dealerfloor publish commentary from Banie Claasen, Managing Executive for Specialised Lending Products at Absa Business Banking on this important topic.
The South African motor industry continues to defy expectations by posting another month of exceptional growth.
According to a Reuters report, Renault is engaged in active discussions with several automobile manufacturers, including China's Chery, as the French company explores opportunities for collaborative production and distribution agreements.
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Given the ongoing discussions about logistics efficiency, diesel price volatility and the broader freight performance outlook in South Africa, Dealerfloor publish commentary from Banie Claasen, Managing Executive for Specialised Lending Products at Absa Business Banking on this important topic.
The South African motor industry continues to defy expectations by posting another month of exceptional growth.
According to a Reuters report, Renault is engaged in active discussions with several automobile manufacturers, including China's Chery, as the French company explores opportunities for collaborative production and distribution agreements.
