Business Day Spotlight
PODCAST | The SA banking industry is balanced on a knife edge
The banking strike is in focus in this edition of Business Day Spotlight
In this edition of Business Day Spotlight our focus is on the banking strike, in which thousands of banking workers were set to take to the streets to protest the retrenchments in the sector.
The strike was due to take place last Friday but was held back by a court ruling.
Our host, Mudiwa Gavaza, is joined by Kaizer Moyane, Nedlac convener for Business Unity SA (Busa), together with Business Day political writer Luyolo Mkentane, who has been covering developments in the strike.
Last week, the labour court interdicted the planned strike to shut down the country’s banking sector as lawyers representing Busa, Cosatu and finance union Sasbo battled it out for judge Hilary Rabkin-Naicker to rule in their favour.
In this discussion, Mkentane provides some of the history of the case and who the different players are. Busa wanted to stop thousands of members of finance union Sasbo from going ahead with the planned action.
Moyane explains Busa’s position on the matter, giving technical context and explanation of what has happened so far and what needs to happen.
The discussion ends by looking at the possible effect of such a strike as the interdict has not eliminated the possibility of labour action in future.
Cosatu is due to have its own strike planned for early October to protest the same matter.
Listen in to hear the full discussion about these and other issues.