(3 minutes read)
South African workers demonstrated against the country’s rising cost of living triggered mainly by record-high fuel prices and increased costs for basic foods. Reports indicate that around 1,000 workers marched to the Union Buildings-the seat of the government in Pretoria- calling for containing prices
South African workers demonstrated against the country’s rising cost of living triggered mainly by record-high fuel prices and increased costs for basic foods. Reports indicate that around 1,000 workers marched to the Union Buildings-the seat of the government in Pretoria- calling for containing prices.
South Africa’s economy is still reeling from the negative impact of the COVID-19 pandemic. An estimated 2 million jobs were lost, indicating the country’s 35% unemployment rate. This was compounded by the Russia-Ukraine war with the gas price reaching record highs despite the government’s suspension of an increase in the fuel levy earlier this year.
South Africa’s inflation now is at 7.4%. Added to this, there are rampant power cuts, which are affecting both industry and households alike. The state-owned power company, Eskom, is unable to generate adequate electricity. South African Federation Trade Unions (SAFTU) General Secretary Zwelinzima Vavi addressed thousands of workers and hit hard at the rising prices and spiraling cost of living. Eskom proposes to increase electricity prices despite it failing to provide an uninterrupted power supply for industry and households. This will also add to the spiraling inflation.
Read Also:
https://trendsnafrica.com/botswana-and-namibias-ban-on-south-african-farm-products-hit-exports/
https://trendsnafrica.com/coal-exports-from-south-africa-to-eu-picks-up-since-10-august/
Both powerful trade unions- the Confederation of South African Trade Unions, and the South African Federation of Trade Unions are blaming the ruling party, the African National Congress, for the poor state of the country’s economy.
