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Transport strike hits ATMs

Sep 28 2012 16:00 Fin24

Company Data

CAPITEC BANK HOLDINGS LIMITED [JSE:CPI]

Last traded 242.24
Change -1.32
% Change -0.01
Cumulative volume 5008
Market cap 27.93bn

Last Updated: 01/08/2014 at 09:07. Prices are delayed by 15 minutes. Source: McGregor BFA

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Cape Town - The transport strike, which is already causing damage to the economy by interrupting delivery of fuel and urgently needed items across all sectors, has now hit banking clients.

Capitec Bank Holdings [JSE:CPI] said in an SMS to clients on Friday that the transport strike is limiting cash to ATMs.

Online retailer Kalahari.net also warned consumers of a delay in purchase deliveries due to the strike.

South Africa has been hit by an often violent strike of about 20 000 workers in the road freight transport sector over wages since September 24.

The South African Express Parcel Association (SAEPA), which strongly condemned the violence and intimidation accompanying the truckers strike, said the labour action is having a huge impact on the economy.

"The strike is interrupting deliveries of fuel and urgently needed items which mining, manufacturing and agriculture rely on to keep the economy growing.

"It is causing lost productivity and lasting damage to the economy.

"It also puts at risk members of the public dependent on express delivery for urgently needed medication and other vital items," said SAEPA.

Capitec advised clients to buy and pay accounts by card as well as draw cash at supermarkets. Although card payments incur no costs, supermarket withdrawals will cost clients R1, no matter how much they draw.

Capitec's SMS reads "buy/pay accounts by card - no fees or get cash @ supermarkets - R1! (limits may apply)".

In its "Truck drivers’ strike notice", Kalahari.net said "the current transport workers’ strike may cause a disruption to our normal delivery. We apologise for any inconvenience caused."

Send us pics, tell us how you've been affected by the strike and get published. 

 - Fin24



 
capitec bank holdings  |  transport strike  |  atm
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