State-owned Transnet has reached a two-year wage agreement with unions, which will see employees in the bargaining unit receive an 8.5% across-the-board increase for the current financial year and a 9% increase for the following year.
The salary increases would be backdated to April 1.
Transnet indicated that it had concluded the agreement with the South African Transport and Allied Workers Union and the United Transport and Allied Trade Union-South African Railways and Harbours Union at the Transnet Bargaining Council on May 10.
“We would like to thank all our colleagues and members of our recognised trade unions for the leadership they have shown and their hard work in ensuring that we have reached this historic settlement in a mutually respectful manner,” the group said in a statement on Wednesday.
Transnet added that the settlement would enable the group to focus on achieving its operational goals for the year.