Eskom, a South-Africa based electricity supply commission, has signed a three-year wage agreement with its recognised trade unions. The company along with its unions will raise the salaries of its non-managerial employees by 7 per cent, over a period of three years.
Along with the wage hike, the parties involved have also agreed to give a 7 per cent increment in the housing allowance over the same period. Additionally, there will be a one-time taxable payment of R10,000 (approx $547.44) for the initial two years. The wage hike will be implemented from 1 July 2023 until 30 June 2026.
In an official statement released on Thursday, Eskom extends its gratitude to all parties involved for their dedicated commitment to the negotiation process, prioritising the well-being of Eskom and all South Africans. Irvin Jim, general secretary, National Union of Metalworkers of South Africa (NUMSA), stated that this agreement signifies an improvement in the relationship between NUMSA and Eskom.
The decision is said to ensure labour stability and will enable all the Eskom employees to concentrate on performing high-quality maintenance work. This will also eliminate the unnecessary disruption caused by annual wage negotiations.
Additionally, in a statement, Calib Cassim, group chief executive, Eskom explained the significance of this agreement towards the stability of the organisation. It will allow Eskom the necessary time and opportunity to collaboratively address its most critical challenges, especially in the finance part. He further highlighted that it is noteworthy that the parties have successfully reached an agreement in person for the first time in over ten years.
