JOHANNESBURG - The threat of a strike at Transnet has been averted.
Labour unions and the state ports and freight rail company have finally reach a wage agreement.
It's an 18-percent wage increment spread over the next three years.
That includes a 13th cheque, pension fund contribution and medical aid subsidy.
The CCMA led the conciliation process between Transnet and unions SATAWU and UNTU.
Majority union UNTU had threatened industrial action if their demands were not met.
Transnet says the conclusion of the process will enable the parastatal to improve operational, and financial performance to drive economic growth.