South Africans have been urged to withdraw sufficient cash to sustain livelihoods during an anticipated national strike in the banking sector.
Automated Teller Machines (ATMs) and banking services will be shut down on Friday, as the country’s biggest financial union Sasbo leads a strike against retrenchments.
Sasbo’s Joe Kokela cautioned South Africans to brace themselves for consequences of the strike.
Several banks in South Africa have recently announced restructuring plans that include digitisation of several processes. The plans will lead to the retrenchment of thousands of workers.
Standard Bank closed 91 branches, affecting hundreds of jobs. Absa also announced jobs would be at risk because of its restructuring processes.
The Banking Association of South Africa reassured customers that all would be done to minimise disruption of services.
South Africa’s Revenue Service (SARS) also said it would be working with all the players involved to prevent any disruption to the country’s financial system.