Date: 8th April, 2024
In a landmark move towards fostering mutual prosperity, the Zambia Union of Financial Institutions and Allied Workers (ZUFIAW) and First Capital Bank have officially signed the 2024 Collective Agreement. This agreement marks a significant milestone in labor relations, ensuring fair compensation and enhanced benefits for unionized members.
During the signing ceremony, Alfred Chifota, the President of ZUFIAW, commended First Capital Bank for their commitment to constructive dialogue and pragmatic negotiations. Emphasizing the importance of social dialogue at a grassroots level, President Chifota highlighted the need to address pertinent issues before entering formal negotiations. He also expressed gratitude to the management for their collaborative spirit, paving the way for a successful agreement.
Meanwhile, Mr. Andre Potgieter, the Interim CEO of First Capital Bank, reiterated the institution’s dedication to positively impacting people’s lives through banking. Recognizing the pivotal role of employees in achieving this mission, Mr. Potgieter thanked the team for their exceptional performance and dedication to customer satisfaction. Moreover, he acknowledged the insights shared by President Chifota, affirming the bank’s understanding of the sector’s dynamics and the needs of its workforce.
As a result of this collective effort, unionized members will benefit from a substantial 16% salary increment, reflecting a commitment to fair compensation and employee welfare. This increase not only acknowledges the hard work and dedication of unionized members but also reinforces the collaborative relationship between ZUFIAW and First Capital Bank.
The signing of the 2024 Collective Agreement underscores the power of dialogue, cooperation, and mutual respect in achieving shared goals. ZUFIAW and First Capital Bank remain steadfast in their commitment to fostering a conducive work environment and driving sustainable growth within the financial sector.
Stay tuned for more updates as we continue to strive for progress and prosperity together
#WorkersFirst
