Bank Windhoek workers get pay rise

Bank Windhoek has awarded its workers an 8% salary, rental and transport allowance increase for the 2023/24 fiscal year.

This was announced by the bank’s managing director, Baronice Hans, in a statement issued yesterday after the successful conclusion of salary increment negotiations with the Namibian Financial Institutions Union (Nafinu), which represents workers in the financial sector.

Hans says the bank recognises that its staff members are the most significant assets the institution has because they are the face, voice and heart of the bank.

“Notably, the 8,5% salary increment exceeds prevailing market standards by 1% to 1,5%. This extraordinary increase is a direct result of the outstanding achievements realised in the 2023 financial year.

“It reaffirms our belief that when we excel collectively, we create the opportunity for commensurate reward,” she says.
Hans says the bank’s achievements would not have been realised without staff members’ invaluable contributions.

She says the bank understands the challenges the current economic climate presents and the associated burdens it imposes on the workforce.

Bank Windhoek’s salary negotiations were conducted over four sessions with Nafinu and culminated in an agreement reached on Tuesday.

“We also sincerely thank the dedicated negotiation teams for their exemplary professionalism and adept management of these negotiations. We look forward to a future of collaboration, growth, and mutual achievement,” Hans says.

Nafinu secretary general Asnath Zamue has confirmed the agreement and said negotiations were constructive as the union wanted an 8,5% salary increase, and the bank agreed to that figure as opposed to other employers who would not be open to this.

“Bank Windhoek is an open-minded institution. The workers will get an 8,5% salary increase, 8,5% transport allowance increase, and an 8,5% increase in rental allowance,” Zamue said, adding that the increment is effective from 20 September.
– email: matthew@namibian.com.na