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FirstRand Namibia approves salary increases of over 7 percent

2018-10-08  Staff Reporter

FirstRand Namibia approves salary increases of over 7 percent
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WINDHOEK - FirstRand Namibia and the Namibia Bank Workers Union (NBWU) have confirmed the increase of all employees’ basic salaries in the bargaining unit for the 2018/2019 financial year, at an across the board raise of 7,4 percent per annum. The effective date for the implementation of salary increases shall be back-dated to 1 August 2018. 

“We have furthermore agreed to increase the housing qualifying loan amounts for staff members by an additional amount of N$150 000 to encourage and support staff to become home owners. All our staff in the bargaining unit who have scored a rating of three and above in their performance appraisal will receive a bonus in this financial year,” said Andrew Kanime, the Group’s Chief Human Resources Officer.

Both negotiating parties agreed that FirstRand Namibia Limited, represented by Kanime, and the Namibian Bank Workers Union, represented by Secretary General, Moses Mamba, demonstrated a sound and mature relationship, conducting negotiations in the spirit of mutual benefit. 

“Despite tough economic conditions, the Group is very pleased that it is still able to grant good increases which are way above inflation, but granted to help our staff to cushion the negative effects of current economic conditions on their standards of living. We are very confident that our staff will rise to the occasion and perform well within and beyond their assigned roles and responsibilities as it is only performance and service that will enable us to continue embedding our position of being the best employer to the best people in Namibia, and the leading financial services Group in Namibia,” added Kanime.  

“It is expected that both parties respect and uphold the signed recognition agreement at all times. Employers in the financial sector should ensure or prevent exploitation, victimisation, favoritism or any other unacceptable behaviours within such industry as to create a conducive atmosphere,” Mamba said.

2018-10-08  Staff Reporter

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