Business: Can Rampahosa channel his inner Thatcher?

In 1987, an anti-apartheid firebrand named Cyril Ramaphosa led South Africa’s biggest-ever mining strike. Some 300,000 miners—from a union Ramaphosa himself had founded—walked off the job, protesting pay and working conditions.

“He wants to move the power to the middle, he wants to reduce the power of unions in a party that is in an alliance with the unions,” said Nic Cheeseman, a professor of democracy and international development at the University of Birmingham in northern England. “Thatcher didn’t care about losing the support of the unions because she never had it.” In that sense, Ramaphosa’s task might be more akin to that of Labor Prime Minister Tony Blair, he said.

“Labor effectively has a veto on economic policy in South Africa,” said Claude Baissac, who leads Eunomix, a South African country-risk consulting firm. “The government always loses, condemning a vast swath of the population to exclusion, unemployment and poverty.” In his state of the nation address on Feb. 7, Ramaphosa spoke only of the need for a “pragmatic and cooperative relationship” between the government, unions and the private sector. He also announced a restructuring of Eskom and an early retirement program for state workers.

The government has folded to union pressure at times since Ramaphosa took power. When Eskom’s board last year said pay wouldn’t be increased because of the company’s financial problems, which include $29 billion in debt, workers protested and some sabotaged power plants leading to electricity outages. Public Enterprises Minister Pravin Gordhan intervened and Eskom agreed to boost pay by an inflation-busting 7 percent—and even more for the next two years.

He doesn't have one. He may have an inner Marx, who knows ?

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

JUST IN: Group Five placed in business rescue | IOL Business ReportThe group and its subsidiaries have said to have been experiencing cash flow difficulties due to significant operating losses. busrep interesting move
Source: IOL - 🏆 46. / 51 Read more »

Rob Davies to meet with UK officials over trade deals | IOL Business ReportIf the talks succeed, an agreement might be ratified in Parliament next week.
Source: IOL - 🏆 46. / 51 Read more »

SA to know by close of business which parties will be on the ballotOnly those registered political parties which that have paid their deposits and submitted candidate lists will be allowed to contest the elections
Source: BDliveSA - 🏆 12. / 63 Read more »

Stop the Brexit ‘circus’, pleads UK businessBritain's business community has urged politicians to avoid a 'no deal' Brexit.
Source: TheCitizen_News - 🏆 6. / 75 Read more »