Sunday Times

Eskom workers want hefty raise, but inflation is being reasonable


CONSUMER inflation accelerate­d at the slowest pace in eight months in February, slipping below the Reserve Bank’s target range of 3% to 6%. The consumer price index eased to an annual 2.9%, down from 3.2% in January and the lowest rate of inflation since June 2020, when inflation came in at 2.2%, said Stats SA.

RETAIL landlord

Resilient Reit managed to declare a dividend for the six months to endDecembe­r, unlike many of its peers, thanks to a strong performanc­e from its tenants, who derive most of their revenue from selling essential goods and services.

SA is set for yet another bumper maize harvest, with preliminar­y estimates putting the size of the commercial crop for 2021 at 15.9Mt, more than enough to satisfy local demand. Local consumptio­n per year is 11.4Mt, leaving the balance for export, mostly to other African states.

THE biggest union at Eskom is considerin­g demanding pay increases of as much as 10% ahead of negotiatio­ns scheduled next month. The National Union of Mineworker­s is still discussing an opening offer for the next threeyear deal, according to

Khangela Baloyi, the labour group’s energy sector co-ordinator. An 8% minimum raise would be reasonable to start with as salaries have been eroded by inflation, he said.

REMGRO, the listed investment holding company chaired by Johann Rupert, said SA’s second wave of Covid-19 hit harder than expected, with group profits more than halving amid pressure on investees FirstRand and Mediclinic.

SABVEST Capital reduced its dividend payout for the first time in 20 years, with the investment company choosing to err on the side of caution amid the looming threat of a third wave of Covid-19 infections.

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