Namfisa and Nafinu succesfully conclude salary negotiations

02 Jun 2014 16:00pm
WINDHOEK, 02 JUN (NAMPA) - The Namibia Financial Institutions’ Supervisory Authority (Namfisa) recently successfully concluded salary negotiations with its employees and representative trade union, the Namibia Financial Institutions Union (Nafinu) for the 2014/15 financial year.
A media statement issued by Namfisa on Monday said a salary increase of seven per cent across the board with retrospect to 01 April 2014 was agreed on. Also agreed on was an increase in performance bonus payment of between a minimum of five per cent and a maximum of 9.5 per cent.
“Against the backdrop of labour unrests and wage disputes in Namibia, the spirit within which the Namfisa salary negotiations took place is highly commendable,” Namfisa's Chief Executive Officer (CEO), Phillip Shiimi was quoted in the statement as saying.
He said it is rare for salary negotiations to be concluded without major hiccups and disagreements.
“It is also gratifying that salary negotiations were handled swiftly and efficiently to allow time for work to continue with minimal hindrance,” Shiimi stated.
The CEO went on to say the successful negotiations augur well for the authority's resolve to transform Namfisa into a universally recognised and internationally respected regulator.
“With the latest developments, I can confidently say that we are indeed on course to achieve that,” Shiimi noted.