TUMULTUOUS TIMES TO COME
Numsa’s expulsion from Cosatu will no doubt drag out in the courts and could take years, but the bigger picture is that South Africa’s largest union federation is breaking apart and this has serious consequences. We wil l now have competing unions i n t he various sectors and this will result in more militant demands, with more strike action almost certainly the outcome. We have already seen this at work in the platinum belt with the struggle between Amcu and NUM. At the end stake in African Bank. A 20% stake in Sentula is worth about R28m, and considering Allan Gray has hundreds of billions in assets under management, t his i s small enough to be total l y insignificant and we make assumptions. of the day, worker rights are critically important but we can expect a very messy couple of years while things sort themselves out.
We certainly should not rush out and buy Sentula just because Allan Gray found some money under the couch cushions and invested it into Sentula.