The Zambia Union of Financial Institutions and Allied Workers (ZUFIAW) says the country’s economic environment has been difficult owing to Covid-19, high inflation rates and instability of the Kwacha among other factors that have affected businesses, including the financial sector.
ZUFIAW General Secretary, Kasapo Kabende, says it is therefore important for Standard Chartered Bank to offer its unionised workers a 20 per cent salary increment across the board in the midst of the difficult economic environment.
Mr Kabende says all other employers in the financial sector should emulate Standard Chartered Bank.
During a signing ceremony of the collective bargain agreement between Standard Chartered Bank and ZUFIAW, Mr Kabende said the 20 per cent salary increment is the highest recorded so far in the industry.
He expressed confidence that the awarded members of staff will be motivated by the increment and work hard towards the success of the bank.
“The economic environment in our country has been difficult, the effects of the Covid-19 pandemic, inflation, cost of goods and services, instability of the Kwacha and high fuel prices due to the current crisis in Ukraine have had a negative effect on our economy and this has resulted in increased cost of living and the actual value of wages has effectively been eroded,” he said.
And Standard Chartered Bank Chief Executive Officer, Herman Kasekende, said the 20 per cent salary increment awarded to the unionised staff is a clear demonstration of the pride and value that the bank places on its people.
Mr Kasekende said the increase in salary has come at the peak of a difficult economic environment for the bank and staff.
He has since thanked the bargaining team for the successful completion of negotiations in record time.
“This agreement clearly indicates that we value our employees. We are very proud of them as they have worked under very difficult conditions over the last two years as we all battled with Covid-19,” he said
Standard Chartered Bank has for the second year running awarded its unionised workers a 20 per cent salary increase across the board.
But why only the unionised staff
Ground work laid by pf..you are welcome. Such won’t happen again under this government which bends over to its imperialist masters
Nice Boma, don’t mind the haters.
WITH THE PROFITS THEY MAKE FROM US
ITS NO BIG DEAL
THE ONLY GROUND WORK PF DID >> WAS DIGGING ZAMBIA’S DEBT A DEPER AND DEEPER HOLE
Tikki keep telling yourself that if you think the voters will believe that fooIishness at the next election. As I said, you are a 1 term govt. Enjoy it while it lasts