Citywire Money, Markets and Masterminds

Numsa boss slams neo-liberal policies and pension fund reform

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In this podcast interview with Numsa deputy general secretary Mbuso Ngubane (pictured below) at Citywire South Africa’s annual retreat in Fancourt, the union boss emphasised the importance of the working class being more active in the economy and owning the means of production.Numsa is the biggest trade union in South Africa with around 340,000 members. Mbuso is a key member of the executive committee and his responsibilities include directing the day-to-day operations and managing relationships with strategic stakeholders of Numsa members across a myriad of sectors including retirement funds in the manufacturing, mining and automotive sectors.He also wants workers to have power over their own retirement savings, thus allowing them to meet their obligations and purchase property to create generational wealth. He said there is an urgent need for more purposeful behaviour in government in addressing these shortcomings and he questioned the election results, stating that they did not reflect the working class’s ambitions. Listen to this explosive Citywire interview below, which reveals how fragile the relationship between organised labour and government is.
5 Jun 2024 English South Africa Investing

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