First National Bank (FNB) Zambia has joined many local financial institutions trying to sustain its worksforce through increament of salaries in th advent of new entrants in the sector.
The Zambian financial sector has continued responding to increases in the cost of living through increased packages for its workforce.
Zambia Union of Financial and Allied Workers (ZUFIAW) President Cephas Mukuka says his union has been advoctating for increased salaries for its members owing to inflationary changes and cost of living. Mr. Mukuka tells the DataBank that the latest institution is FNB Zambia which has nodded to a ZMK 700,000 salary hike across the board.
“I can safely confirm that my union did sign a collective agreement with FNB Zambia on August, 8, 2011 after negotiations,” Mr. Mukuka said.
FNB is the third bank to have awarded its workers a salary hike after Investrust Bank and Standard Chartered Bank which equally gave its employees the same amount.
By Brian Mwale
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