Sipho Mabena
Premium Journalist
4 minute read
25 Sep 2019
6:00 am

Don’t panic, Friday’s bank strike ‘will have little impact’

Sipho Mabena

Experts say the planned strike will hit those who rely on cash the hardest, but electronic banking will not be affected - just make sure you get cash on Thursday.

Picture for illustration. Picture: iStock

The looming banking sector “total shutdown” will have little or no impact on services other than causing panic, economists have said as banking institutions ensure clients of usual operations, although the poor would be most affected due to their reliance on cash. The South African Society of Bank Officials (Sasbo), the country’s largest financial sector trade union, affiliates of the Congress of South African Trade Unions (Cosatu), has vowed to bring the sector to a standstill on Friday. The trade union has advised people to ensure they have enough cash by the end of Thursday as there will be no...