Proposed national minimum wage set at R3 500 per month and R20 per hour

The highly anticipated proposed national minimum wage has been set at R3 500 per month and R20 per hour.

The announcement - made by the National Economic Development Council Advisory Panel this weekend - is higher than the R2 700 figure preferred by the business sector.

702's John Robbie spoke to chairperson of Nedlac Advisory Panel, Professor Imraan Valodia, about what this means for South Africans, business and the economy.

He said that the figure was proposed with the emphasis of avoiding any job losses while increasing the earnings of low income workers.

The irony in this is to find how we can have a system that would help the workers who earn an extremely low wage without hurting them.

Prof Omraan Valodia, Nedlac Advisory Panel

The proposed national minimum wage will undergo further consultations from all sectors concerned before a final announcement is made.

Listen to the interview below:

Read More
Major medical breakthrough: New gene pegged as cause of heart attacks in youth

Major medical breakthrough: New gene pegged as cause of heart attacks in youth

This is being called the biggest medical advancement in South African cardiology since Dr Chris Barnard's first heart transplant.

Parents urged to check tertiary institutions are legit before registering kids

Parents urged to check tertiary institutions are legit before registering kids

The Council on Higher Education says parents need to be wary of the increasing number of fly-by-night tertiary institutions.

Visitors turned away from Table mountain due to strike

Visitors turned away from Table mountain due to strike

A wage dispute amongst Table Mountain cable way staff has led to a strike. Workers are denying visitors access to the mountain.

National minimum wage could stimulate the economy

National minimum wage could stimulate the economy

A panel of experts has been appointed to report on a proposed threshold for South Africa's minimum wage.

The debate on national minimum wages in South Africa

The debate on national minimum wages in South Africa

Tito Mboweni called for national minimum wages in South Africa. Listen to two diametrically opposing views debating this issue.

Why a national minimum wage is a good thing

Why a national minimum wage is a good thing

Economic Modeler, Dr. Asghar Adelzadeh has undertaken statistical modelling predicting the impact of a national minimum wage in South Africa.

Popular articles
Why try to remove such an outstanding Minister? - Nick Binedell (Gibs)

Why try to remove such an outstanding Minister? - Nick Binedell (Gibs)

The Money Show’s Bruce Whitfield interviews Gordon Institute of Business Science’s Professor Nick Binedell.

'Zuma will ensure Cabinet reshuffle doesn't look like Nene/Van Rooyen Part 2'

'Zuma will ensure Cabinet reshuffle doesn't look like Nene/Van Rooyen Part 2'

Analyst Nic Borain says it's unclear whether Zuma's decision to ask Gordhan to return home is related to a Cabinet reshuffle.

Analysis: Possible reasons why Gordhan ordered to return by Zuma

Analysis: Possible reasons why Gordhan ordered to return by Zuma

EWN Reporter Stephen Grootes looks at possible reasons why the President called Pravin Gordhan back into the country.

3 best investments in the world right now (by Mia Kruger)

3 best investments in the world right now (by Mia Kruger)

Hot tip alert! Mia Kruger of Kruger International Asset & Wealth Management shares her stock picks of the week on The Money Show.

President Zuma asks Gordhan and Mcebisi to return from overseas trip

President Zuma asks Gordhan and Mcebisi to return from overseas trip

Finance Minister Pravin Gordhan confirms he was planning on returning early from an investor roadshow.

Department of Education irons out plans to decolonise English curriculum

Department of Education irons out plans to decolonise English curriculum

The Department of Basic Education wants the curriculum to include more contemporary literature.

William Kentridge (world-renowned South African artist) opens up about money

William Kentridge (world-renowned South African artist) opens up about money

Bruce Whitfield interviews one of our most beloved artists of all time about his money hopes, fears, successes, failures, etc.

5 advantages of leasing instead of owning a car (lower monthly payments!)

5 advantages of leasing instead of owning a car (lower monthly payments!)

Want (or need) a new car? Dale Scorer (a wealth manager at AlphaWealth) reckons you should consider leasing.