MD and ZUFIAW President indulge me in acknowledging the protocol already established.
Today’s ceremony is symbolic of the partnership that ZANACO and ZUFIAW have enjoyed over the years. I wish to affirm our commitment to this partnership as we look forward to working together for the good of our members and the Bank at large.
MD, on behalf of the Union Leadership and indeed my own, I wish to express our sincere congratulations to you, your Management team, and most importantly our members at the Bank for another record profit of K1, 879.4m. As a key stakeholder in the financial sector, ZUFIAW is proud to be associated with the success of the Zambia National Commercial Bank. I wish to assure you that as a Union, we will continue to encourage our members to work extra hard to meet shareholder expectations which must translate into good conditions of service for the unionized employees. If ZANACO is number one in the market, we expect our members to be number one in terms of remuneration.
MD, we are also mindful that despite the high profits reported by players in the financial sector, there is need for Government to create an enabling environment so that Banks and financial players can continue to provide financial solutions to the citizens, the business community and indeed contribute to the growth of our economy. We have noted an increase in the Statutory Reserve Ratios and Monetary Policy Rate which have made borrowing more expensive hence affecting the lending portfolio of many banks.
MD, we have continued to receive complaints from the branches particularly the upcountry regarding the staffing levels and our members are meant to work long hours to meet and exceed customer expectations. In maintaining a healthy work-life balance, we are calling upon your office to address these issues timely. We will officially be engaging Head Human Capital on this and other matters needing your timely attention.
MD, let me congratulate the Bargaining Unit for the 20.5% salary increment reached during the bargaining process Notwithstanding, the other conditions that were revised upwards. This is the highest increment so far and ZUFIAW remains committed to our work of negotiating for good conditions of service, social justice, protecting the rights and interests of workers, decent jobs, job security and decent workplaces in the financial and financial-related sectors. Further, let me thank the Bargaining Unit members for the professionalism and maturity demonstrated during the process. To our President Mr. Alfred Chifota, thank you for leading the Union team.
MD, it is our hope that post this ceremony, our branch officials will be given a chance to go round the branches to meet our members and ensure they are fully aligned with the changes in the Collective Agreement whose integrity we pledge to protect. In closure, let me thank you for accepting our invitation to be Guest of Honor at our 26th Bi-Annual Conference next month in Livingstone. The conference will be attended by our social partners the employer, sister unions, locals and international delegates hence we look forward to having you and your Management team.
Thank you and Good Afternoon.
Kasapo Sundrea Kabende (Mr.)
GENERAL SECRETARY and CEO
Zambia Union of Financial Institutions and Allied Workers.
