Steel sector reaches speedy three-year wage deal - which includes housing for the first time

The Steel and Engineering Federation Industries of South Africa (Seifsa), which represents more than 1 300 employers, and the National Union of Metalworkers South Africa (Numsa) have a new three-year wage deal, which will start with an above-inflation 7% increase for the coming year.

Wage increases for the 2025/26 and 2026/27 financial years will be 6%. Headline inflation is currently around 5.3%.

The deal takes effect on 1 July 2024 and will end on 30 June 2027, and affects workers in the Metal and Engineering Industries Bargaining Council. Numsa has more than 115 000 members who fall under the council.