Pendum
Nautilus Hyosung

  • Mining strike pummels cash withdrawals in S Africa

The Spark ATM Systems Spark Cash Index suggests that ongoing strike actions in South Africa are dampening consumer spending. The SCI, which measures the average value of cash withdrawals across more than 2,000 Spark ATMs in South Africa, recorded a month-on-month drop of 2.27 percent in average cash withdrawals for October 2012.

Marc Sternberg, managing director of Spark ATM Systems, said the latest statistics clearly show that the provinces that are experiencing labor turmoil in platinum and gold mining recorded a significant decline in average ATM cash withdrawal values during October. 

"The North West (platinum), Free State (gold), and to a lesser extent Limpopo and Mpumalanga regions, all recorded month-on-month drops in cash withdrawal values of between 2 percent and 5 percent during the October strike period," Sternberg said. "Limpopo and Mpumalanga also act as labour feeds for mineworkers to the platinum and gold sectors and, as many miners did not receive salaries, there was a subsequent decline in cash withdrawal values." 

Sternberg said that the transport sector strike also affected cash withdrawal activity along the country's main transport routes, as truck drivers did not draw money and no payments for truckloads were completed.

Sternberg said the trend may be reversed in November and December, though. "With the majority of the strikes now over and many workers subsequently receiving higher salaries, we should see a spending 'catch-up,' resulting in increased cash withdrawal figures over the next two months."

For more on this topic, visit the trends/statistics research center.

Related Content

User Comments – Give us your opinion!
Products & Services

Maintenance Services

http://global.networldalliance.com/new/images/products/6915.png

6915/Maintenance-Services

OptConnect Patch Antenna with Double Sided Tape

http://global.networldalliance.com/new/images/products/4102.png

4102/OptConnect-Patch-Antenna-with-Double-Sided-Tape

Retail ATM - Tranax C4000

http://global.networldalliance.com/new/images/products/mb4k_view13_100.gif

1188/Retail-ATM-Tranax-C4000

ATM Security Solutions – Checker ATM Security

http://global.networldalliance.com/new/images/products/LogoCHECKER.gif

3746/ATM-Security-Solutions-Checker-ATM-Security

BankWorld - Integrated Multichannel Self-Service Platform

http://global.networldalliance.com/new/images/products/5593.png

5593/BankWorld-Integrated-Multichannel-Self-Service-Platform

Deposit/dispensing systems with cash recycling

http://global.networldalliance.com/new/images/products/5785.png

5785/Deposit-dispensing-systems-with-cash-recycling

Project Management

http://global.networldalliance.com/new/images/products/6845.png

6845/Project-Management

ATM Anti-Theft Kit

http://global.networldalliance.com/new/images/products/4053.png

4053/ATM-Anti-Theft-Kit

Wooden ATM Cabinets

http://global.networldalliance.com/new/images/products/4292.png

4292/Wooden-ATM-Cabinets

Durable and Attractive Composite Series Kiosks

http://global.networldalliance.com/new/images/products/4444.png

4444/Durable-and-Attractive-Composite-Series-Kiosks

Media Kit
Request Information From Suppliers
Save time looking for suppliers. Complete this form to submit a Request for Information to our entire network of partners.