The banking industry is expected to come to a standstill in South Africa on Friday, September 27.
This follows the South African Society of Bank Officials (SASBO) General Secretary, Joe Kokela, claiming approximately 40 000 members are expected to take part in the nationwide strike.
The strike is allegedly against the retrenchment of workers and the digitalisation of banking systems. This follows several local banks closing their branches as a result of digitalisation, which encourages self-service and people using cellphones and computers, rather than going to the actual bank branch.
In recent months, the Nedbank Group, Standard Bank and ABSA have consulted with staff about cuts.
Kokela also adds South Africa’s banking sector needs to explain how it intends to deal with the fourth industrial revolution and what is being done to up-skill workers.
Furthermore, SASBO, which is the biggest financial union in South Africa, claims it will ensure ATMs and bank operations are not functional.
Kokela says it is important for South Africans to know what’s happening in the banking world and how employees are being treated. Adding they will ensure internet banking services and ATMs aren’t working on the day.
According to Sasbo’s website, there are five major marches which are planned in Johannesburg, Durban, Bloemfontein, Port Elizabeth and Cape Town.
This march is expected to be made up of some 15,000 to 20,000 protesters alone.
With the strike set to affect the banking industry, Standard Bank claims it will keep its customers informed if there is to be any changes or disruptions to their banking activities. ABSA and Nedbank are apparently involved with talks with the union regarding its impact.
What are your thoughts about the impending banking strike? Share your views and thoughts with us in the comment section below.
