by Evan Pickworth –
SOUTH Africa risks losing more businesses and skilled young people because of rating downgrades, a potential recession and persistent labour unrest, economists and emigration economic experts warn.
South Africa’s rigid labour market is often cited as a key investment constraint for business but concern about strikes is mounting, with companies including Ford, Nissan and BMW considering leaving South Africa.
Rating agencies are worried that mining companies will need to embark on retrenchments now that higher wage deals have been struck, which could lead to further strikes.
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