South African Finance Minister Signals State Wage Offer at Limit

South Africa’s finance minister said the government can’t guarantee a 4.7% wage-increase offer it made to public servants last month will increase further, after inflation slowed.

“When we made the offer, which the trade unions are considering, the CPI was at 4.5%, but it has since dropped,” Enoch Godongwana told lawmakers in Cape Town on Wednesday. “Therefore, we cannot guarantee that the final offer will be higher.”