nationwide strike | Radio 94.7 FM

Sasbo’s Joe Kokela said there won’t be money in many ATMs across the country on Friday. South Africans have been warned to withdraw enough money ahead of the nationwide strike in the banking sector on Friday as ATMs and banking services will be shut down.

The country’s biggest financial union Sasbo said it would bring the industry to a standstill when it protests retrenchments.

Earlier this year, Standard Bank closed 91 branches, affecting hundreds of jobs.

Absa also announced jobs would be at risk because of its restructuring processes.

Over 40,000 finance sector employees are expected to take part in the strike.

Sasbo’s Joe Kokela said there won’t be money in many ATMs across the country on Friday.

“ATMs are mended and programmed by our members so if our members are not at work then there will be no service produced.”

Kokela also had other advice for South Africans.

“If you’re travelli
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The spiraling economic meltdown in Zimbabwe has prompted South African authorities to think about extending short-term credit to Harare and helping it to write off a $7.4-billion external debt.

In an interview with the Daily Maverick newspaper, South African Finance Minister Tito Mboweni said the two governments were discussing ways to settle Zimbabwe’s debt to the IMF, the World Bank and the Paris Club.

The sides were also weighing up the possibility of extending an existing credit facility which Zimbabwe had with the South African Reserve Bank.

Zimbabwe had previously provided collateral for the loan in the form of its holding of SA Land Bank bills, the minister said, noting the country had always repaid its loans under that facility in the past.

Experts say Harare is clearly desperate for a bailout from South Africa and/or any of its other allies to resolve an economic crisis which is slipping out of control.

Thousands of Zimb
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