WINDHOEK – Following Bank Windhoek’s signing of a recognition agreement with the Namibian Financial Institution’s Union (NAFINU) on August 12, 2014, the two parties this week announced that salary and benefits negotiations were concluded on October 09, 2014, and that the agreement was signed on October 13, 2014. The signing ceremony was held at the Bank Windhoek Head Office and witnessed by the bank’s negotiation team and NAFINU shop stewards.
In terms of the agreement Bank Windhoek will increase all permanent non-managerial employees’ salaries for the 2014/2015 financial year by an average increase of 8.8 percent, distributed on a pay for performance principle and effective and backdated as of September 1, 2014. The parties further agreed that a transport allowance of N$500 per month will be paid for all employees in the bargaining unit.
“The bank and its management are committed to the partnership with NAFINU and remain committed to promoting and servicing the interest of our employees and all other stakeholders. We are pleased that the negotiations have been concluded and that staff will benefit from these negotiations, which includes additional benefits such as the introduction of a transport allowance and improved long service awards”, said Christo de Vries, Managing Director of Bank Windhoek.
“I am satisfied with the outcome of the negotiations and especially the fact that Bank Windhoek introduced a transport allowance for staff”, added Asnath Zamuee, Secretary General of NAFINU.
The recognition agreement is applicable to Bank Windhoek employees (non-managerial staff) as defined in the bargaining unit.