SABC News - Union federations are worsening labour relations in SA: Moodys :Saturday 19 March 2016

Union federations are worsening labour relations in SA: Moody's

Saturday 19 March 2016 07:03

Tshepo Mongoai

Moody's representatives are in the country to review South Africa's investment rating.

Moody's representatives are in the country to review South Africa's investment rating. (REUTERS)

Rating agency Moody's has warned union federations that worsening labour relations are among factors that could result in South Africa losing its investment grade.

Moody's representatives are in the country to review South Africa's investment rating.

On Friday, Moody’s met with the Federation of Unions of SA (Fedusa) and the National Council of Trade Unions (Nactu) to discuss the issues weighing on the country's credit rating.

The unions asked Moody's officials to keep South Africa's credit rating. They also committed to work with business and labour to find solutions.

Fedusa's General Secretary, Dennis George says, "Our suggestion to them was that let's maintain the status quo and then give the stakeholders time between now and June to implement some of the measures."

Representatives of the country's most politically powerful labour federation, the Congress of South African Trade Union (Cosatu), were not present at the meeting with Moody's.

Nactu's President Joseph Maqhekeni says Cosatu had earlier indicated that it would attend, but failed to arrive.

"To us they said they were coming, we don't know what happened."

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