STANBIC Bank Pays Workers Allowances In Advance To Avoid A Strike

STANBIC Bank Limited reportedly paid in advance an allowance of ZWL$1 000 to its employees last week as a way of preventing a strike.

This comes at a time when workers from other banks are protesting over paltry salaries. Last week, Agribank workers reportedly demonstrated over salaries whilst First Capital workers staged an evening protest yesterday over the same issue. 

The unrelenting economic crisis characterised by the soaring inflation has resulted in an increased cost of living for everyone including workers across industries.

The News Day reports that Stanbic workers at both the Bank’s Jason Moyo branch in Bulawayo and Nelson Mandela branch in Harare had last week planned to camp in the banking halls as a protest over poor salaries.

Speaking to News Day, Zimbabwe Banks and Allied Workers’ Union (Zibawu) secretary-general Shepherd Ngandu said:

We have been advised that they were paid an allowance, which is an advance payment to be deducted from the July payday, just to cushion the staff. Salary
adjustments will be discussed in the next works council.

The Bank confirmed the development noting that the economic situation and its impact on the general population, including its employees was a reality. Responding to News Day questions through an email, the bank said:

As such, the bank is currently working on sustainable solutions to cushion our employees against the prevailing challenges. During this process, the leadership continues to engage with employees on the same.

More: News Day

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