NICOLE MORDANT, Johannesburg | Friday 2.15pm.
THE country’s biggest banking trade union said it will hold protest meetings in major cities across the country on Friday to show its opposition to banking group Nedcor’s bid for rival Stanbic.
Sasbo, which has 65000 members, has been vocal in its criticism of the proposed takeover on the grounds that the deal will spark steep job losses at a time when South Africa is trying to cut unemployment estimated at one-third of the economically active population.
“More job losses is the last thing that this country and the economy needs at this point,” said Shaun Oelschig, general secretary-designate of Sasbo.