Tuesday, 26 September 2017

Cosatu will strike nationally over state capture.

Trade union federation Cosatu. File image
CAPE TOWN - South Africa’s economic hub of Gauteng is expected to take a huge knock when thousands of Cosatu members down tools and embark on a national strike tomorrow.

The planned national shutdown by the labour federation was against the scourge of corruption and the capture of key state institutions by rogue elements in close proximity to the ruling elite.

Cosatu national spokesperson Sizwe Pamla said the country was struggling with a 38% unemployment rate and about 10 million people who were without jobs, while more than 17 million were on social welfare.

“This is happening while South Africa is losing roughly R147 billion a year from the money illegally taken out of the country,” he said.

Gauteng was viewed as one of the provinces that would be hit the hardest by the Cosatu strike. According to the provincial treasury, the province dominated the country’s economy, accounting for more than 40% of manufacturing, 33% of electricity and gas production and water output. The province’s construction sector accounted for more than 43%, while the wholesale and retail trade stood at over 35%.

The national strike follows Economic Development Minister Ebrahim Patel’s recent remarks that corruption cost the gross domestic product at least R27bn annually as well as the loss of 76000 jobs that would otherwise have been created.

Full story at IOL.

By Luyolo Mkentane.

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