After three formal engagements SEIFSA and NUMSA have concluded the terms of a
historic three-year wage agreement for the period 1 July 2024 to 30 June 2027.
Following a bruising round of wage negotiations in 2021 which peaked in a three-week
strike costing the industry in excess of R600 million rand per day in lost revenue, this
year’s agreement was reached in record time, with no industry disruption and within
mandate.
The SEIFSA affiliated membership which accounts for 57% of all employees, employed
by all the employer organizations on the bargaining council and NUMSA representing
in excess of 115 000 members signed the agreement today at the Birchwood
Conference Centre in Boksburg.