South African Markets Rise Ahead of Workers’ Day as Labour Concerns, Migration Shifts and Rural Livelihoods Dominate Weekend News
While South Africans marked Workers’ Day on Friday, honouring workers’ contributions to the economy and reflecting on labour rights guaranteed in the Constitution, the weekend’s headlines told a very different story.
Reports in City Press and News 24 over the weekend emphasised problematic working conditions in South African call centres, following allegations by a worker that some companies in the sector regularly breach labour regulations while evading accountability.
While these concerns are not new, with similar complaints often appearing on employment platforms such as Indeed.com, this case stands out because it is one of the first times a worker has publicly spoken out in detail.
In other developments, a more positive narrative has emerged, with reports showing that several South Africans living abroad are beginning to return home.
Meanwhile, in provinces such as Limpopo, a new study has highlighted how rural entrepreneurs are earning income through the harvesting of termites and mopane worms, offering a vital source of livelihood for households under ongoing economic pressure.
Markets close higher ahead of public holiday
The JSE All Share Index (ALSI) ended Thursday’s session up 1.15% at 115,181 points, trading ahead of the Workers’ Day public holiday on Friday.
The index opened at 113,856 and moved between an intraday low of 113,720 and a high of 116,045 before closing above the previous day’s 113,866.
Gains were led by resource-heavy counters, with the Resource 10 Index advancing 2.61%. The Top 40 Index rose 1.16%, while mid-cap and small-cap indices increased by 1.10% and 1.03%, respectively.
Industrial stocks posted moderate gains, with the All Share Industrials Index up 0.57% and the Industrial 25 Index rising 0.55%. Financials remained broadly stable, with the Financial 15 Index edging up 0.14%, while the SA Property Index gained 0.94%.
Among individual shares, Exxaro Resources climbed 5.3% to R219.91, Impala Platinum rose 4.57% to R232.26, Harmony Gold advanced 3.98%, and Pan African Resources gained 3.82%. Reinet Investments added 3.37%, while Sibanye Stillwater increased 3.22%.
On the downside, Capitec Bank fell 2.17% to R4,325.17, Discovery Limited dropped 1.55%, Santam declined 1.51%, and Aspen Pharmacare eased 1.16%.
Trading activity was concentrated in large-cap shares. AngloGold Ashanti led by value traded at R1.87 billion, followed by Naspers at R1.49 billion and Capitec at R1.43 billion. Standard Bank and FirstRand also recorded strong turnover.
Sector performance was led by oil, gas, and coal stocks, which rose 4.05%, alongside the broader energy sector. Precious metals and mining gained 2.78%,
Several shares reached new 52-week highs, including Sasol, which traded up 3.51% during the session, and Grindrod, which gained 1.22%.
On the currency market, the rand remained steady, with USD/ZAR unchanged at R16.64.
Global markets also ended the week on a stronger footing.
In the United States, the Dow Jones Industrial Average rose about 1.6%, the S&P 500 gained roughly 1%, and the Nasdaq Composite advanced around 0.9%, supported by corporate earnings and softer energy prices. European equities followed a similar trend, while Asian markets were mixed but generally positive, with Japan’s Nikkei 225 and Hong Kong’s Hang Seng Index posting modest gains.
Call centre labour allegations resurface
According to the allegations, workers in certain call centres face excessive monitoring, restricted breaks, and pressure to meet strict performance targets. These concerns echo earlier complaints raised through employment review platforms and labour dispute forums.
Previous cases brought before the Commission for Conciliation, Mediation and Arbitration (CCMA) have included similar claims, with former employees alleging tightly controlled break times and high-pressure productivity systems.
Labour experts have previously warned that such practices may raise concerns under South African labour legislation, which requires fair working conditions and protection of worker dignity.
The Department of Employment and Labour has repeatedly stated that all employers are required to comply with labour laws, while the CCMA continues to handle disputes on a case-by-case basis.
Expats consider return to South Africa
An estimated 900,000 South Africans live abroad, mainly in the United Kingdom, Australia, and the United States. However, recent commentary suggests a gradual shift in sentiment.
Sean Kelly, director at Parity Wealth Managers, noted that some expatriates are reassessing long-term plans due to cost-of-living pressures and lifestyle considerations.
He said that while earlier migration trends were driven by seeking opportunities abroad, there is now an increasing evaluation of whether remaining overseas remains financially viable.
Cost of living differences are a key factor, with South Africa often cited as more affordable in areas such as housing, services, and healthcare. Private medical care in South Africa is also noted as significantly less expensive compared to countries such as the UK and the US.
Reports indicate that returnees include professionals, families, and retirees. Some younger professionals are working remotely or in hybrid roles, reducing dependence on physical relocation. Families are influenced by education and living costs, while retirees benefit from stronger purchasing power when returning with foreign savings.
A report from the TEFL Academy also highlighted a pattern of “reverse emigration”, noting that some skilled South Africans are returning after gaining international experience, with respondents citing improved confidence and global exposure.
Limpopo research highlights rural income streams
Mopane worms are seasonally harvested, processed through cleaning, boiling and drying, and then sold in local and regional markets. Studies indicate that many households depend on this activity as a key seasonal income source.
Similarly, termite alates are collected during specific periods and sold for consumption and trade, with women forming the majority of participants in these informal economies.
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