Featured image credit: Eskom

After months of wage negotiations, the South African national power utility, Eskom, announced that it has reached a three-year wage agreement with its recognised trade unions, ending the impasse.

Eskom and its trade unions, the National Union of Mineworkers (NUM), the National Union of Metalworkers of South Africa (Numsa) and Solidarity, signed the wage agreement in the early hours of today (30 August) following talks.

In terms of the three-year agreement on wages and conditions of employment, Eskom’s bargaining unit employees will see a salary adjustments of 7.5% in 2018/19 (effective as of July 2018), 7% in 2019/20 and 7% in 2020/21, an annual cost of living (CPI) adjustment to their housing allowance as well as a one-off cash payment of R10,000 after tax to be paid within 48 hours of the agreement being signed.

Read more: Eskom sets the record straight on NUM and NUMSA claims

Commenting on the development, Eskom’s Group Executive for Human Resources, Elsie Pule, said: “Eskom wishes to thank all the parties involved in the negotiation process for their endeavour to find an amicable solution. The conclusion of these negotiations enables us to firmly focus on the Eskom of the future and building a sustainable business to power the nation and grow the economy.”