Transnet signs 3-year wage deal with SATAWU and UNTU, securing a 6% annual increase and ensuring labour stability for future growth.
Transnet SOC Limited (“Transnet”) is pleased to announce that a three-year wage agreement has been reached with its recognised labour unions, the South African Transport and Allied Workers’ Union (SATAWU), and United National Transport Union (UNTU) following the conclusion of a conciliation process led by the Commission for Conciliation, Mediation, and Arbitration (CCMA).
The wage agreement provides for the increment as follows:
The above-inflation wage agreement represents an 18% wage increment over the three-year period. It includes increases to basic salary and related components, viz. 13th cheque, pension fund contribution, medical aid subsidy, and housing allowance.
The finalisation of the three-year wage agreement provides labour stability and will enable the company to focus on its immediate strategic priorities of improving operational and financial performance, while positioning the organisation for future growth, thereby ensuring job security and economic growth.
Transnet would like to thank all the stakeholders involved in the process to date.
