This agreement ended the five week long industrial action in one of its key emerging markets however, had little impact on its output. SAB said the deal amounted to a wage increase of 7 per cent plus performance-related pay, back-dated to July 1.
The JSE listed brewer’s managing director, Mauricio Leyva said, “I was proud of the resilience of the majority of our employees during this difficult period who worked together to ensure the impact on our operations was minimised”.
Workers led by the Food and Allied Workers Union were initially demanding a 9.5 per cent wage hike and for the company to do away with performance-related pay.
The pay settlement, which raises the average monthly pay to just over 18,000 rand, is above an inflation rate of about 6 per cent and reflects similar accords across Africa’s biggest economy.