On Workers Day

We are proud of how far Cosatu has come since it was launched 40 years ago in Durban and the role it has played in ending apartheid, securing our constitutional democracy, uplifting workers and enshrining their rights into law. Workers Day has emerged this Saturday as one of the stories drawing attention in South Africa.

Key facts

• We are proud of how far Cosatu has come since it was launched 40 years ago in Durban and the role it has played in ending apartheid, securing our constitutional democracy, uplifting workers and enshrining their rights into law.
• This week, not only are we celebrating Workers’ Day on 1 May but also 32 years of democracy on 27 April.
• We celebrate May as workers’ month, to remember those who sacrificed so much to improve the lives of workers and the many challenges still to be overcome.
• In 2019, after extensive negotiations chaired by then Deputy President Cyril Ramaphosa, business and labour achieved the historic National Minimum Wage boosting the wages of six million impoverished workers and injecting a sorely-needed stimulus into the economy.
• In 2020, Cosatu drafted the Eskom Social Compact, later adopted by government and social partners at Nedlac, not only to secure workers’ jobs but to ensure the ability of the entire economy to function.

What we know

Going deeper, this week, not only are we celebrating Workers’ Day on 1 May but also 32 years of democracy on 27 April.

On the substance, We celebrate May as workers’ month, to remember those who sacrificed so much to improve the lives of workers and the many challenges still to be overcome.

Beyond the headlines, In 2019, after extensive negotiations chaired by then Deputy President Cyril Ramaphosa, business and labour achieved the historic National Minimum Wage boosting the wages of six million impoverished workers and injecting a sorely-needed stimulus into the economy.

More precisely, In 2020, Cosatu drafted the Eskom Social Compact, later adopted by government and social partners at Nedlac, not only to secure workers’ jobs but to ensure the ability of the entire economy to function.

It is worth noting that Labour and business worked closely with the government to help ensure the release of over R65 billion to 5.7 million workers to help them to provide for their families and the introduction of the SRD Grant helping eight million unemployed persons.

By the numbers

At this stage, the Two-Pot Pension Reforms that Cosatu drove have provided relief to millions of highly indebted workers (over R70 billion to more than four million workers to date) whilst simultaneously boosting long-term retirement savings.

On a related note, more than 17 million South Africans go to work every day, and for many of them, employment is not a marker of financial comfort but the beginning of a far more complex responsibility.

Going deeper, it has been one of the most important interventions since 1994 to uplift the most vulnerable parts of the workforce, to reduce poverty and inequality, to improve the lives of the working class and inject stimulus into the economy.

On the substance, this Compact relieved Eskom of R250 billion worth of debt, enabling it to ramp up its maintenance and investment programmes and thus end the debilitating loadshedding that had threatened the entire economy.

The wider context

On a related note, this Workers' Day, Siyasanga Kashe, Executive Member Solutions at Momentum Corporate reflects on the often-overlooked reality of South Africa’s employed workforce, and the growing pressure carried by those whose income must stretch far beyond a single household.

Going deeper, as South Africa marks Workers' Day, there is an opportunity to shift the narrative.

On the substance, both provide an opportunity to reflect on how far we have come as workers and still have to journey.

Beyond the headlines, the trade union movement’s contributions to improving the working and living conditions of workers across the world are immense.

More precisely, Critics correctly challenge Cosatu not to rest upon past victories’ accolades but to continuously raise the bar and earn the trust and confidence of workers and society.

The bottom line

• This week, not only are we celebrating Workers’ Day on 1 May but also 32 years of democracy on 27 April.
• The Two-Pot Pension Reforms that Cosatu drove have provided relief to millions of highly indebted workers (over R70 billion to more than four million workers to date) whilst simultaneously boosting long-term retirement savings.
• This Workers' Day, Siyasanga Kashe, Executive Member Solutions at Momentum Corporate reflects on the often-overlooked reality of South Africa’s employed workforce, and the growing pressure carried by those whose income must stretch far beyond a single household.