Tuesday, June 15, 2021
HomeBusiness & EconomySouth Africans urged to withdraw 'enough cash' ahead of banking strike

South Africans urged to withdraw ‘enough cash’ ahead of banking strike

SOUTH Africans have been urged to withdraw sufficient cash to sustain livelihoods during an anticipated national strike in the banking sector.

Automated Teller Machines (ATMs) and banking services will be shut down on Friday, as the country’s biggest financial union Sasbo leads a strike against retrenchments.

Sasbo’s Joe Kokela cautioned South Africans to brace themselves for consequences of the strike.

‘ATMs are mended and programmed by our members so if our members are not at work then there will be no service produced,’ Kokela warned.

‘If you’re travelling make sure you have enough petrol because the speed points machines may not be working.’

Banks restructuring

Several banks in South Africa have recently announced restructuring plans that include digitisation of several processes. The plans will lead to the retrenchment of thousands of workers.

Standard Bank closed 91 branches, affecting hundreds of jobs.

Absa also announced jobs would be at risk because of its restructuring processes.

Regarding the strike, FNB said its customers would be able to access the bank’s services through online and mobile banking.

But Kokela said even these services would not be operational.

‘They forget that there’s a human being who is in operation of those robots. So, there will be no one who will be able to go into the app.’

Sasbo represents 73,000 finance sector employees and expects over 40,000 of its members to join the strike.





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