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COSATU march to SA Reserve Bank in Pretoria over ‘high cost of living’

The Reserve Bank recently increased interest rates by 25 basis points, raising the repo rate to 7% and the prime to 10.5%.

Members of unions affiliated to the Congress of SA Trade Unions (COSATU) marched to the offices of the South African Reserve Bank in Pretoria on Friday. Photo: Warren Mabona
More than 200 members of unions affiliated to the Congress of SA Trade Unions (COSATU) marched to the offices of the South African Reserve Bank (SARB) in Pretoria on Friday to protest about the high cost of living and unemployment, among other concerns.
This follows a recent decision by the Reserve Bank to increase interest rates by 25 basis points, raising the repo rate to 7% and prime to 10.5%.
Gauteng chairperson Amos Monyela told GroundUp that workers were battling with the high cost of living. “We want the SARB to…

Read More: COSATU march to SA Reserve Bank in Pretoria over ‘high cost of living’.

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  1. Fun South African Fact: South Africa is known as the “Rainbow Nation” thanks to its mix of cultures across the country. The status of being a cultural “melting pot” is evident in the fact that South Africa has a whopping 11 official languages: English, Afrikaans, isiZulu, isiXhosa, IsiNdebele, Sesotho, Northern Sotho, Setswana, SiSwati, Tshivenda, Xitsonga. Most South Africans speak more than one national language. IsiZulu is the most common first language and isiXhosa is second. Fun fact – did you know the people of Wakanda speak isiXhosa in Marvel’s Black Panther movie?