Ina Opperman
Business Journalist
2 minute read
6 Oct 2021
5:20 pm

Numsa steel workers strike is bad news for SA’s economic recovery

Ina Opperman

Experts are worried the effect of a drawn-out strike in the steel industry on the economy, with fears of a repeat of the 2014 strike.

Image: iStock

The steel strike bodes ill for economic recovery in South Africa as a whole and not only for the steel and manufacturing industry. There is also a concent that the indefinite labour action will drag on as it did in 2014, when the strike lasted four weeks and wiped R6 billion from the country’s gross domestic product. According to Oxford Economics, the memorandum of the National Union of Metalworkers of South Africa (Numsa) handed over at the march to the Metal and Engineering Industry Bargaining Council on Tuesday was riddled with fighting language, saying the union was "declaring war" and...