South Africa Rail Firm Averts Strike as Unions Accept Deal

South Africa’s state-owned ports and freight-rail company reached a pay deal with its two recognized labor unions, averting a strike that threatened to disrupt mineral and agricultural exports.

The agreement, which followed an arbitration process led by the Commission for Conciliation, Mediation and Arbitration, provides for 6% annual increases for three years, including the current financial year, Transnet SOC Ltd. said in an emailed statement.