Today's Labour News

newsThis news aggregator site highlights South African labour news from a wide range of internet and print sources. Each posting has a synopsis of the source article, together with a link or reference to the original. Postings cover the range of labour related matters from industrial relations to generalist human resources.

mboweniANA reports that the National Union of Metalworkers of SA (Numsa) said on Thursday it was disappointed by the appointment of former central bank governor Tito Mboweni as new finance minister, adding that it spelt doom for workers.  

President Cyril Ramaphosa on Tuesday announced Mboweni as the new finance minister after Nhlanhla Nene resigned after admitting during testimony before a state capture commission that he should have been more upfront about his meetings with the controversial Gupta family.  Numsa president Andrew Chirwa said while he was the SA Reserve Bank governor, Mboweni had promoted maintaining high-interest rates with a negative impact on the economy and resulting in massive job losses as hundreds of manufacturing companies closed down.  He added that:  “Mboweni is hostile to the working class majority.  During his tenure as governor of the Reserve Bank, he bent over backwards to champion the neo-liberal macro-economic policies of the governing party.”  He accused Mboweni of displaying “extreme arrogance” at the time by refusing to accept a memorandum of demands from Numsa members picketing against the effects of “the extreme social and economic difficulties that they were experiencing”.

Get other news reports at the SA Labour News home page