Freight association: Transnet strike costing SA hundreds of millions
The strike at Transnet is costing the South African economy between R100 million and R1 billion a day.
That's the calculation of the South African Association of Freight Forwarders.
The industrial action began late last week after wage talks collapsed.
READ: Protesting Transnet workers attempt to block routes at Durban port
Transnet declared a force majeure.
The United National Transport Union and the South African Transport and Allied Workers Union and the logistics company met at the CCMA on Monday where a new offer of up to 5 percent was tabled.
SATAWU has rejected it, saying it's below inflation.
The freight forwarders association's Devlyn Naidoo says the strike must be urgently resolved.
"The current inactivity blocks more than R8 billion worth of goods each day. Secondly, the unintended consequences of the port strikes will be far worse than our energy crisis if left unattended as the shock to our economy could not have come at a worse time.
ALSO READ: Protracted Transnet strike could have dire consequences for FDI, warns economist
"Neither Transnet nor labour seems to understand the full extent of the damage. Simply put, we cannot run on a contingency plan for any length of time as the water side and land side are too integrated and spill over into one another. A one-day loss in port activity results in operationally a minimum of 10 days of recovery."
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