S.Africa president: Private sector, workers should tighten belt to save jobs

Reuters
South African President Jacob Zuma attends the summit of the Southern African Development Community (SADC), called to discuss industrialisation in southern Africa, in Harare, April 29, 2015. REUTERS/Philimon Bulawayo/Files

LEPHALALE, LIMPOPO, SOUTH AFRICA (Reuters) - South Africa's private sector and workers need to tighten their belts to save jobs in Africa's most advanced economy, President Jacob Zuma said on Sunday. Pointing to worries that the steel manufacturing industry and the mining sector could shed thousands of jobs, Zuma urged unions demanding higher wage increases and firms chasing profits "to recognise the fact that the economy is sick". He spoke at the opening of a new power station.