Stanchart employees in 20% salary increment

Unionized Standard Chartered Bank Zambia employees have been awarded a 20 percent salary increment across the board.

Speaking at the signing ceremony of the new conditions of service, Bank Chief Executive Officer, Herman Kasekende says the new conditions of services have been awarded at the height of many challenges in the country’s economy and a continued challenging environment.

Mr. Kasekende says because of the value it places on its workers and the difficulty environment they have recently operated under, the bank management felt fit to award the workers a salary increment and other adjustments in the conditions of service.

And Zambia Union of Financial Institutions and Allied Workers (Zufiawu) General Secretary Kasapo Kabende has described the negotiations between the union and the bank management as the best in the industry so far.

Mr. Kabende, however, expressed concern that out of 115 workers at the bank, only 40 are unionized, describing this as an anomaly.