Following tools being downed for more than six days and wage negotiations in a deadlock, industry figureheads are concerned that South Africa's economy will continue to lose billions as export and import activity falters.
A strike by South African ports and freight-rail workers entered a sixth day on Tuesday as talks to end the labour action that is curbing mineral exports remained at an impasse.
South Africa's economy can not handle an en masse strike at Transnet and the stakes are higher than they have ever been with the country on its knees, says the Steel and Engineering Industries Federation of South Africa.
The current strike at Transnet will cost South Africa's economy billions making the country's financial position even worse - possibly triggering further negatives, says the CEO of Business Leadership South Africa (BLSA), Busi Mavuso.
South Africa’s port and freight-rail operator declared force majeure across all of the nation’s harbors after its employees began a strike over wages. Mining stocks dropped.
Labour unions at South Africa’s state-owned ports and freight-rail company threatened to begin a strike this week after rejecting its latest wage offer, a move that may curb shipments of coal and other minerals.
Deutsche Bank AG is beefing up its investment banking team and services in Africa’s most developed economy as part of a plan to grow on the continent.
South Africa’s state-owned port and rail company Transnet is gauging interest from developers to rejuvenate a half-century-old building that is also one of Africa’s tallest.
The Department of Public Enterprises (DPE) is working with Transnet and stakeholders, including the KwaZulu-Natal provincial government, eThekwini municipality and Eskom to stabilise operations at the Port of Durban.
The US Embassy calls for South Africa to take a stance against Russia; bottlenecks because of Transnet infrastructure has had a major impact on South Africa's largest coal supplier; The City of Tshwane continues its campaign of cutting off utilities;…
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