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Zuma unveils accord to stabilise economy

The pact seeks to stimulate the economy and stabilise labour relations in the volatile mining industry.

President Jacob Zuma speaks after meeting Business Unity SA and others to discuss poverty in SA. Picture: Taurai Maduna/EWN.

PRETORIA - President Jacob Zuma on Wednesday announced an accord to stimulate the economy and stabilise labour relations in the volatile mining industry.

He unveiled the plan at a meeting with the Black Business Council, Business Unity South Africa and the Congress of South African Trade Unions at the Union Buildings in Pretoria.

The meeting comes after another week of violent strikes in the mining sector, which is estimated to cost the economy billions.

Zuma said normalising industrial relations in the sector is a priority.

"Processes to address the grievances of workers have now been put in place. We call on workers who are engaged in unprotected strikes to return to work and for production to normalise."

He said government, business and labour collectively developed the accord, which will be implemented immediately.

"We will monitor implementation at the highest level, with ministers and social partners meeting regularly. They will report to me."

The president said the accord will stimulate the economy, with focus on particular areas.

"Accelerated infrastructure will be rolled out to create jobs, and provide the basis for social inclusion and growth."