{"id":844719,"date":"2025-11-27T07:32:34","date_gmt":"2025-11-27T05:32:34","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=844719"},"modified":"2025-11-27T08:37:22","modified_gmt":"2025-11-27T06:37:22","slug":"eskom-hit-with-r12900-per-month-pay-increase-demands-one-province-at-risk-of-going-bankrupt","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/5-things\/844719\/eskom-hit-with-r12900-per-month-pay-increase-demands-one-province-at-risk-of-going-bankrupt\/","title":{"rendered":"Eskom hit with R12,900 per month pay increase demands, and one province at risk of going bankrupt"},"content":{"rendered":"\n<p>The rand strengthened on Wednesday as modest US economic data increased expectations of an interest rate cut by the Federal Reserve in December, which weighed on the dollar.<\/p>\n\n\n\n<p>The rand was trading at 17.14 to the dollar, up 0.5% from Tuesday&#8217;s close, while the dollar fell 0.2% against a basket of currencies.<\/p>\n\n\n\n<p>Like other risk-sensitive currencies, the rand often responds to global influences, including US economic policies and data, as well as domestic indicators.<\/p>\n\n\n\n<p>Expectations for a quarter-point cut in the Fed&#8217;s interest rate next month have gained traction over the past few sessions.<\/p>\n\n\n\n<p>This was fueled by weak economic data and remarks from central bank officials advocating for monetary easing.<\/p>\n\n\n\n<p>Domestically, attention will be focused on producer inflation numbers to be released on Thursday, as well as credit, trade, and budget data due on Friday.<\/p>\n\n\n\n<p>On the Johannesburg Stock Exchange, the Top 40 index was up 1.3% in the latest trading.<\/p>\n\n\n\n<p>On Thursday, 27 November, the rand was trading at R17.12 to the dollar, R22.69 to the pound and R19.86 to the euro. Oil was trading slightly lower at $62.75 a barrel.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">5 important things happening in South Africa today<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2025\/11\/Mpumalanga.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2025\/11\/Mpumalanga-1024x576.jpg\" alt=\"\" class=\"wp-image-844722\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2025\/11\/Mpumalanga-1024x576.jpg 1024w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2025\/11\/Mpumalanga-300x169.jpg 300w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2025\/11\/Mpumalanga-768x432.jpg 768w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2025\/11\/Mpumalanga.jpg 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong>Eskom hit<\/strong> <strong>with massive wage demands:\u00a0<\/strong>Eskom&#8217;s financial gains in 2025 are threatened by worker demands for a 15% pay increase, compared to the official inflation rate of 3.6%. Eskom has proposed a 3.5% increase. A 15% raise would raise average salaries by R12,900 to R98,900 a month, significantly impacting the company&#8217;s finances. [<strong><a href=\"https:\/\/www.businessday.co.za\/news\/2025-11-26-labour-rejects-eskoms-mockery-35-wage-offer\/\" target=\"_blank\" rel=\"noreferrer noopener\">Business Day<\/a><\/strong>]<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong>One province at risk of going bankrupt:<\/strong>\u00a0Delays in completing ever-increasingly expensive infrastructure projects and shoddy work by contractors risk bankrupting the Mpumalanga province. This is the warning from a joint delegation of Mpumalanga permanent delegates to the National Council of Provinces (NCOP) and Members of the Provincial Legislature (MPLs). [<strong><a href=\"https:\/\/newsday.co.za\/south-africa\/11766\/the-province-in-south-africa-parliament-warns-risks-bankruptcy\/?utm_source=story_viewer\" target=\"_blank\" rel=\"noreferrer noopener\">Newsday<\/a><\/strong>]<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong>US hit back at South Africa:<\/strong>\u00a0President Donald Trump said that he would not invite South Africa to participate in next year\u2019s G-20 summit in Miami and that he planned to \u201cstop all payments and subsidies\u201d to the country, as relations between Washington and Pretoria continue to deteriorate. [<strong><a href=\"https:\/\/businesstech.co.za\/news\/government\/844716\/serious-blow-to-south-africa-2\/\" target=\"_blank\" rel=\"noreferrer noopener\">BusinessTech<\/a><\/strong>]<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong>The second Walmart to launch:<\/strong>\u00a0Walmart will open its second store in South Africa at Fourways Mall in Johannesburg on Friday, 28 November 2025. The store will open its doors to the public at 08:00 on Friday with a ribbon-cutting ceremony led by store manager Lunghani Lincoln Mathebula. [<strong><strong><a href=\"https:\/\/mybroadband.co.za\/news\/business\/620345-second-walmart-south-african-store-opening-date-revealed.html\" target=\"_blank\" rel=\"noreferrer noopener\">MyBroadband<\/a><\/strong><\/strong>]<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong>Over 10 million South Africans is serious trouble:<\/strong>\u00a0The National Credit Regulator (NCR) has revealed that more than 10 million South Africans are over-indebted. It added that 36% of the population have three to five credit accounts in arrears. [<strong><a href=\"https:\/\/www.ewn.co.za\/2025\/11\/27\/ncr-says-over-10-million-south-africans-are-over-indebted\" target=\"_blank\" rel=\"noreferrer noopener\">EWN<\/a><\/strong>]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Here are 5 important things happening in South Africa today, Thursday, 27 November 2025.<\/p>\n","protected":false},"author":92,"featured_media":763971,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20398],"tags":[18993,853],"class_list":["post-844719","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-5-things","tag-5-important-things-happening-in-south-africa-today","tag-south-africa"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/844719","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/92"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=844719"}],"version-history":[{"count":2,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/844719\/revisions"}],"predecessor-version":[{"id":844730,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/844719\/revisions\/844730"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/763971"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=844719"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=844719"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=844719"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}