Samwu inks above-inflation wage agreement in the water industry

The Money Show

• The SA Municipal Workers' Union (Samwu) has reached a one-year pay deal for a 7% raise for workers in the water industry represented in the Amanzi Bargaining Council. The growth rate surpasses the inflation rate of 5.2% observed in April and May. The largest municipal union, Samwu, which represents more than 160,000 of the almost 300,000 municipal employees in the nation, and the water boards of South Africa have an agreement that will last from July 1 to June 30, 2025. Speaking about this arrangement with host Motheo Khoaripe is national media officer Papikie Mohale.
  
• The escalation of geopolitical risks brought about by the continuing conflicts, which started with Russia's invasion of Ukraine and proceeded with the outbreak of hostilities in the Middle East. Due to this, there is now a greater demand for gold, which is often regarded as a safe haven asset. The rush for protection, the increase in gold recycling, worries about inflation, and central bank purchases are additional motivators. Morningstar South Africa's Senior Investment Analyst Michael Kruger goes into further detail on this in a lengthy interview with host Motheo Khoaripe.
• In May 2024, mining production decreased. Seasonally adjusted mineral sales at current prices decreased by 8.0% from April 2024 to the same month in 2024. Nonetheless, sales did exhibit a noteworthy trend, increasing by 9.8% in May compared to April. Following monthly fluctuations of 8.9% in March and -0.2% in April, this occurred. Host Motheo Khoaripe chats with Sitef & Co. founder and director Mihlali Sitefane to provide more details.
• In South Africa, there have been several odd weather events in recent months. These have included tornadoes that are unique in the KwaZulu-Natal area of South Africa, floods in the Eastern Cape, and mid-latitude cyclones in the Western Cape. The increase in global temperature resulting from a rise in carbon emissions is one of the primary causes of climate change. 2024 is one of the two years in which temperatures have reached record highs. Lee-Anne Bac, Director, Tourism Specialist Unit, BDO South Africa, talks about the extent of the damage with host Motheo Khoaripe.
• Scientists have criticized the government's most recent census, arguing that it is so flawed that it cannot be relied upon to track the success of critical programs like children's vaccinations or to allocate cash and resources. Stats SA's projection of 62 million people for the 2022 census is exaggerated by one million, and there are similarly significant discrepancies at the district and municipal levels. Dr. Pali Lehohla, a former statistician-general from South Africa, shares the tale with host Motheo Khoaripe.

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