"A once-off cash payment of R10 000 after tax for all employees… will be made within 48 hours of the signing," said NUM's spokesperson Livhuwani Mammburu.
The agreement, which will result in workers pocketing a 7.5% increase this year and 7% in the next two years, will be backdated to July 1. Mammburu said the agreement will also result in an increase in housing allowance in each year of the agreement.
Irvin Jim, the secretary for Numsa, said: "We started at 0% and thanks to our efforts, we have secured an increase. We are also grateful to the negotiating team which worked tirelessly to resolve the impasse."
Eskom group executive for human resources Elsie Pule said: "Eskom wishes to thank all the parties involved in the negotiation process for their endeavour to find an amicable solution. The conclusion of these negotiations enables us to firmly focus on the Eskom of the future and building a sustainable business to power the nation and grow the economy.”