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South African Banks Prepared for Biggest Strike in 99 Years

From bnnbloomberg.ca

South African banks are urging clients to use digital channels as the industry prepares for what could be its biggest strike since 1920. “Banks will be operating as usual on the day,” the Banking Association South Africa said in an emailed statement on Monday. Lenders “are taking the necessary precautions to minimize disruption” related to the proposed protest action on Friday by the South African Society of Bank Officials and the Congress of South African Trade Unions, it said. Business Unity South Africa, a separate lobby group, is seeking to stop the Cosatu protest, as the notice filed by the country’s largest ... (full story)

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  • Category: Fundamental Analysis