Yes it's more a notional load effect. SANS 10162-1 part 10.3 states that the K is to be taken as 1.0 to account for this instead of applying a portion of the axial load horizontally.
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I've been told that when designing a steel column (unbraced) that 5-10% of the axial load should be applied horizontally. I understand this for bracing of a structure (generally 2% is the South African code requirement) and the minimum eccentricity applied to concrete columns. I...