WINDHOEK, 23 MAY (NAMPA) ? The Blue Financial Services? company and the Namibia Bank and Allied Workers? Union (NBWU) on Thursday signed a wage agreement which will see employees at this company getting salary increments of up to 16 per cent.
NBWU Secretary-General Lawrence Ihuhua signed on behalf of the union, while Acting Chief Executive Officer (CEO) at Blue Financial Services, Pieter Swartz signed on behalf of the company.
Through this agreement, non-managerial employees in the bargaining unit will get a salary increase of 16 per cent, while all lower-managerial employees will get seven per cent.
The company will also still contribute 100 per cent towards the employees' pension fund.
The increases will be backdated to 01 May 2013.
The negotiations on salary and benefit improvements between the two parties started early in August last year.
?We could not reach a favourable deal, and there were no plausible justifications why the company could not accede to our demands,? said Ihuhua during the signing ceremony.
He explained that only a few workers who are members of NBWU had indicated their readiness to engage in an industrial action, should their demands not be met.
The workers initially demanded a 17 per cent increase.
On his part, Swartz said this is a milestone for Blue Financial Services to have reached this point, adding that this increase will better the lives of our employees.
Blue Financial Services opened its doors in Namibia in 2007. It employs 49 people on a permanent basis, and has 17 branches countrywide.
It is a pan-African financial services? group.
Established in 2001, the Group has operations in 12 African countries and 220 branches, and offers financial services to Africa's gainfully-employed yet under-banked and under-served population.