Transnet, unions to resume wage talks on Wednesday

This follows the first day of conciliation on Monday, which ended with the parties agreeing and signing the picketing rules and picketing sites for the current industrial action.

Workers affiliated to trade unions Satawu and Untu downed tools late last week after wage talks collapsed.

This forced the state-owned ports and rail operator to declare force majeure.

Transnet upped its wage offer to 4.5% to 5% on Monday, but this was rejected by the unions.

It claims the offer is too far below inflation.

READ: Freight association: Transnet strike costing SA hundreds of millions

“Transnet is hopeful that the unions will formally table their position, to enable the company to assess its feasibility, taking into account affordability and sustainability imperatives for the business, balanced with the needs of employees,” the company said in a statement. 

“Transnet remains committed to a speedy resolution to the current impasse, to enable the business to focus its attention on the sustainable turnaround and improvement of operations.” 

Economist have warned that a protracted strike has the potential to cripple an already-struggling local economy.  

The industrial action is said to cost the economy at least R1 billion a day.