The South African government has announced plans to increase its
National minimum wage from $60 to $260, which is about N130,000 when
converted to the Naira. According to Reuters, Deputy President of South
Africa, Cyril Ramaphosa, announced this today after holding negotiations
with some leaders of the labor unions. He however stated that the new
minimum wage regime would take effect from May 2018.
"The balance we have sought to strike is that it must not be too low, so
that it doesn't affect the lowest paid workers, but not too high that
it leads to massive job losses" Ramaphosa told a news conference.
Ramaphosa said the national minimum wage, which equates to 20 rand ($1.50) per hour, would come into effect in May 2018.
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