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| Jacob Zuma calls on all South African business leaders to freeze pay | Jacob Zuma calls on all South African business leaders to freeze pay |
| (about 1 month later) | |
| Jacob Zuma, the president of South Africa, has called on business leaders to freeze their salaries and bonuses for a year as the country endures its worst industrial strife since the apartheid era. | Jacob Zuma, the president of South Africa, has called on business leaders to freeze their salaries and bonuses for a year as the country endures its worst industrial strife since the apartheid era. |
| Striking workers at one of Gold Fields' mines returned to work on Thursday, but there was renewed unrest at Lonmin's Marikana operation, where 34 workers were massacred by police in August. | Striking workers at one of Gold Fields' mines returned to work on Thursday, but there was renewed unrest at Lonmin's Marikana operation, where 34 workers were massacred by police in August. |
| More than 80,000 miners have downed tools since then in often violent strikes that have battered South Africa's image and sent shudders of anxiety through public discourse. | More than 80,000 miners have downed tools since then in often violent strikes that have battered South Africa's image and sent shudders of anxiety through public discourse. |
| Foreign investors have been unnerved, Zuma's political stock has tumbled and there is a growing sense that the economy, and the nation, is at a crossroads. | Foreign investors have been unnerved, Zuma's political stock has tumbled and there is a growing sense that the economy, and the nation, is at a crossroads. |
| After a five-hour meeting with union and business leaders on Wednesday, Zuma called on mining production to be "normalised" in what was seen as his first significant intervention in the crisis. "We are agreed that violence and intimidation must come to an end," the president said. "These have no role in our system and simply have a negative effect." | After a five-hour meeting with union and business leaders on Wednesday, Zuma called on mining production to be "normalised" in what was seen as his first significant intervention in the crisis. "We are agreed that violence and intimidation must come to an end," the president said. "These have no role in our system and simply have a negative effect." |
| He added: "The parties make a call on CEOs and executive directors in the private sector and senior executives in the public sector to agree to a freeze in increases in salary and bonuses over the next 12 months, as a strong signal of a commitment to build an equitable economy. They call for an informed national conversation on income inequalities and how best to address them." | He added: "The parties make a call on CEOs and executive directors in the private sector and senior executives in the public sector to agree to a freeze in increases in salary and bonuses over the next 12 months, as a strong signal of a commitment to build an equitable economy. They call for an informed national conversation on income inequalities and how best to address them." |
| Zuma, facing an internal African National Congress leadership contest in December, has been criticised for a sluggish response to the mining unrest and for renovating his rural home at the cost of millions to the public. | Zuma, facing an internal African National Congress leadership contest in December, has been criticised for a sluggish response to the mining unrest and for renovating his rural home at the cost of millions to the public. |
| On Thursday critics called on him to lead by example by taking a pay freeze himself. Clem Sunter, a "scenario" strategist and former mining executive, was quoted in South African media saying: "President Jacob Zuma must tell us what is he going to do as the president to address inequality. He must be the first to tell us that he is willing to freeze his increase for the benefit of the poor." | On Thursday critics called on him to lead by example by taking a pay freeze himself. Clem Sunter, a "scenario" strategist and former mining executive, was quoted in South African media saying: "President Jacob Zuma must tell us what is he going to do as the president to address inequality. He must be the first to tell us that he is willing to freeze his increase for the benefit of the poor." |
| The Democratic Alliance condemned Zuma's response as inadequate. | The Democratic Alliance condemned Zuma's response as inadequate. |
| Lindiwe Mazibuko, its parliamentary leader, said: "We can no longer allow the government to fiddle while the economy suffers. We need bold leadership and a clear, growth-orientated plan to ensure that this downturn is reversed. | Lindiwe Mazibuko, its parliamentary leader, said: "We can no longer allow the government to fiddle while the economy suffers. We need bold leadership and a clear, growth-orientated plan to ensure that this downturn is reversed. |
| "The president's meeting yesterday with key actors in business and labour to address the current challenges facing the economy should have yielded a more concrete plan to address the current economic crisis. | "The president's meeting yesterday with key actors in business and labour to address the current challenges facing the economy should have yielded a more concrete plan to address the current economic crisis. |
| "Instead, President Zuma delivered more of the same: a closed meeting and an announcement of a ministerial programme of action glaringly short on detail." | "Instead, President Zuma delivered more of the same: a closed meeting and an announcement of a ministerial programme of action glaringly short on detail." |
| Two months of labour unrest, in which more than 50 people have been killed, are harming South Africa's economic growth and its international reputation, prompting fears that the country is sinking towards a point of no return. | Two months of labour unrest, in which more than 50 people have been killed, are harming South Africa's economic growth and its international reputation, prompting fears that the country is sinking towards a point of no return. |
| The past week has brought headlines such as "South Africa falters as unrest spreads" and "upheaval grips South Africa as hopes for its workers fade", in the Wall Street Journal and New York Times. Standard & Poor's and Moody's have both lowered the country's credit rating, citing a lack of political leadership and rising pressure on the government to take on more "populist elements". | The past week has brought headlines such as "South Africa falters as unrest spreads" and "upheaval grips South Africa as hopes for its workers fade", in the Wall Street Journal and New York Times. Standard & Poor's and Moody's have both lowered the country's credit rating, citing a lack of political leadership and rising pressure on the government to take on more "populist elements". |
| The rand currency has slumped to its lowest level for three and a half years. | The rand currency has slumped to its lowest level for three and a half years. |
| Peter Bruce, publisher of the Business Day newspaper, wrote: "Another week, another downgrade. If this gets any more regular we'll be able to calculate to the day how long it took the ANC to shut down the economy as an investment prospect." | Peter Bruce, publisher of the Business Day newspaper, wrote: "Another week, another downgrade. If this gets any more regular we'll be able to calculate to the day how long it took the ANC to shut down the economy as an investment prospect." |
| In a surprise move on Thursday, 4,000 workers at Lonmin's Marikana mine stayed away from work. "There have been disruptions at various shafts since yesterday," Sue Vey, a spokeswoman, said. Only a month ago they returned to work after being granted pay rises of up to 22% following a six-week strike. | In a surprise move on Thursday, 4,000 workers at Lonmin's Marikana mine stayed away from work. "There have been disruptions at various shafts since yesterday," Sue Vey, a spokeswoman, said. Only a month ago they returned to work after being granted pay rises of up to 22% following a six-week strike. |
| As recognised unions have lost control over collective bargaining on pay, other firms have reported incidents. Petra Diamonds said production at its Cullinan mine had been hit after a fifth of workers went on strike. | As recognised unions have lost control over collective bargaining on pay, other firms have reported incidents. Petra Diamonds said production at its Cullinan mine had been hit after a fifth of workers went on strike. |
| Gold Fields, the world's fourth-largest bullion producer, said all of the 9,000 workers at its Beatrix mine were now back at work following a dismissal ultimatum. But the firm could still fire more than 11,000 others striking at its KDC West operations in Carletonville, 25 miles west of Johannesburg. | Gold Fields, the world's fourth-largest bullion producer, said all of the 9,000 workers at its Beatrix mine were now back at work following a dismissal ultimatum. But the firm could still fire more than 11,000 others striking at its KDC West operations in Carletonville, 25 miles west of Johannesburg. |
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