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FirstRand employees get 7% salary hike

FirstRand employees get 7% salary hike

FirstRand Namibia and the Namibian Bank Workers Union (NBWU) this week announced 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% 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 3 and above in their performance appraisal will receive a bonus in this financial year,” said Andrew Kanime, the Group’s Chief Human Resources Officer.

FirstRand Namibia Limited represented by Andrew 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, victimization, favoritism or any other unacceptable behaviour within such industry as to create a conducive atmosphere,” Mamba said.

About The Author

Donald Matthys

Donald Matthys has been part of the media fraternity since 2015. He has been working at the Namibia Economist for the past three years mainly covering business, tourism and agriculture. Donald occasionally refers to himself as a theatre maker and has staged two theatre plays so far. Follow him on twitter at @zuleitmatthys