National Minimum Wage Act in Force from 2019
After a long delay, President Cyril Ramaphosa has finally signed the National Minimum Wage Bill into law.
The National Minimum Wage Act sets South Africa’s first National Minimum Wage at R20 an hour, equivalent to R3,500 per month, depending on the number of hours worked, and creates a phase-in period for farm workers, forestry workers, domestic workers, welfare sector and care workers, due to their vulnerability to disemployment.
An exemption may only be granted if the employer cannot afford to pay the minimum wage and after meaningful consultation with every trade union representing affected employees or the affected employee him/herself in absence of a trade union.
“The President’s signing of the new law comes four years, to …
Labour Law Amendment: Parental Leave
President Cyril Ramaphosa has also signed the Labour Laws Amendment Bill into law.
The bill is notable as it was not introduced by ANC lawmakers but was instead tabled as a private member’s bill by the ACDP’s Cheryllyn Dudley. The Labour Laws Amendment Bill allows for parental leave, adoption leave and commissioning parental leave to employees as follows:
- An employee, who is a parent of a child, is entitled to ten consecutive days of parental leave;
- An employee, who is an adoptive parent of a child below the age of two, is entitled to:
- Adoption leave of at least ten consecutive weeks; or
- At least ten consecutive days of parental leave.
An employee, who is a commissioning parent in a surrogacy agreement, is entitled to…
The Country celebrates and Rand strengthens as Gigaba resigns
What a relief when the news hit the internet last night that Malusi Gigaba, Chief Incompetent, and Minister of Home Affairs, finally resigned.
His move was almost as eagerly awaited as once Jacob Zuma’s as he is one of the last ministers in cabinet that kept close ties to the Guptas and lied to the People as well as to the Courts.
His testimonies around the citizenship he granted to the Gupta Brothers while receiving them also “privately”, his lies under oath in front of court (perjury), his sex-tape that circulates on Social Media and him showing the finger in Parliament ae just a tip of the iceberg, which describes Gigaba’s political failures. His agonising visa rules for travelling children and openly xenophobic policy towards s…
Mboweni calls for Closure of SAA
While finance minister, Tito Mboweni, had no room for maneuvers during his Mid-Term Speech, he now speaks up on his plan for saving the state coffers!
Speaking at an investor conference in New York, Mboweni noted that decisions over the future of the state carrier SAA were ultimately not under his control, but that it was difficult to see a turnaround for the airline. “It’s loss-making, we are unlikely to sort out the situation, so my view would be close it down,” Mboweni said. “Why I say close it down is because it’s unlikely that you are going to find any private sector equity partner who will come join this asset,” Mboweni added.
In May SAA reported losses of R5.7 billion over the financial year. During the Mid-Term Budget Mbowe…
No Sparks flying from Mid-Term Budget - only Concerns
It was Tito Mboweni’s first real appearance, not an easy feat to step in front of Parliament and Public with a Mid-Term Budget that was almost solely concocted by his corrupt predecessor, the Butcher of Finance Nhlanhla Nene. He and his team had ample time to prepare and when Mboweni took over only weeks ago there was hardly any time to establish his own course. But would that have really been so much different from what was presented yesterday?
Any current Minister of Finance has very little to work with. The South African economy is treading water at one place with 0.7% anticipated GDP growth, a projection that we do not share. However, what we share are the facts: South Africa is in a recession and the inflation rate, officially qu…
What to expect from the upcoming Mid-Term Budget?
Spoiler Alert, the answer is “nothing”!
The upcoming Medium-Term Budget on 24 October 2018 will not go down in history as to be remembered, you can be sure of that! Newly appointed Minister of Finance and former Reserve Bank Governor, Tito Mboweni, has not had enough time to develop his own fiscal policy and beside that he is tasked to administer funds within such high fiscal as well as political constraints that there is virtually no room for a “big one”. The budget to be presented had long been done by the team under Nhlanhla Nene and he will more or less read out his predecessor#s findings.
But that does not mean we are not looking forward to Mboweni’s new office and especially him sharing his vision where the fiscal future of t…
Tito Mboweni succeeds Nhlanhla Nene and Rand Gains manifest
The rand held gains made ahead of President Cyril Ramaphosa’s announcement on Tuesday afternoon that former Reserve Bank Governor Tito Mboweni would be the new finance minister. Ramaphosa made the announcement from Tuynhys in Parliament. Mboweni is replacing Nhlanhla Nene with immediate effect.
Mboweni replaces Nene
The president said that Nene submitted his letter of resignation this morning. Last week Nene testified at the State Capture Inquiry that he had met with members of the Gupta family several times between 2009 and 2014. He had not previously acknowledged these meetings.
The rand was trading 0.67% stronger at R14.75 ahead of Ramaphosa’s announcement, having firmed on speculation that Mboweni …
Unemployment in Figures
Employment in SA’s non-agricultural formal sector dropped by 69 000 between March and June 2018, Statistics SA announced on Wednesday in its latest Quarterly Employment Statistics (QES) bulletin. The QES results are based on a sample survey conducted by Stats SA and include findings on employment in the non-agricultural formal sector. Stats SA reported that non-agricultural formal sector employment dropped from 9 817 000 in March 2018 to 9 748 000 in June 2018.
This was largely due to decreases in:
- community services (-67 000 or -2.5%);
- manufacturing (-13 000 or -1.1%);
- mining and quarrying (-2 000 or -0.4%) and
*transport (-2 000 or -0.4%).
Increases were reported in:
- trade (7 000 or 0.3%);
- business services (7…
180 degree turn by Gigaba: New Immigration Rules to be introduced
Minister of Home Affairs, Malusi Gigaba, surprised yesterday when announcing new visa rules to come, easing the access to South Africa for skilled workers, reverse some of the documentation required for travelling children and implementing negotiations with other countries for visa-free access to South Africa.
Has Playboy Gigaba turned from Saulus to Paulus? Surely not! His hand had to be forced by President Ramaphosa to contribute to the government’s efforts to stimulate economy and to stop boycotting Tourism and Businesses in need of critical skills. We all need to remember that it was Gigaba, who introduced insane conditions for travelling children and thereby costing the tourism sector billions of Rand in revenue, only justified b…
Heritage Day - Braai Day - Shaka Day
Heritage Day is one of the newly created South African public holidays. It is a day in which all are encouraged to celebrate their cultural traditions in the wider context of the great diversity of cultures, beliefs, and traditions that make up the nation of South Africa. The question of National or Cultural heritage is, however, not without its complications.
In a country of eleven different official languages and a turbulent recent political past, one is obliged to ask, for instance, whose heritage it is that South Africans are being called to celebrate. Another point of contention is that in a former settler colony such as South Africa, one person’s heritage is another person’s trauma. For example, whilst for some, the Great Trek …