Durban – Analysts have warned of a weaker rand, job losses and business closures as strike action continues to sweep the country.
The violent protests that have hit the mining, freight and manufacturing sectors – with thousands of workers striking for better pay – were destabilising and would weaken the rand, they said. A tough two years lay ahead.
“Unless we have sensible heads, we’re going to see a downward spiral for the next few years,” said Chris Hart, a senior economist at Investment Solutions. read more