07 Mar 2017 18:10pm
WINDHOEK, 07 MAR (NAMPA)- The Namibia Bank Workers Union (NBWU) is concerned with foreigners being in employed in key positions at financial institutions in the country.
This comes after the Bank of Namibia (BoN) on the 01 March assumed control of Small and Medium Enterprises (SME) Bank Namibia. Investigations found irregularities in some SME Bank investments that have not conformed to sound investment principles.
BoN said in a statement that preliminary findings suggest the investments potentially pose a risk to the stability of the bank.
At a media briefing on Tuesday, NBWU Secretary-General, Moses Mamba said the union has observed that other financial institutions, beside the SME Bank, are employing foreigners in strategic financial positions and at the expense of Namibians.
The NBU is convinced that there are well qualified and well experienced Namibian citizens who can fill vacant positions within the SME Bank.
Reports in the Namibian Newspaper after the BoN announcement, allege the appointment of foreigners at the SME Bank, with assistance from the immigration authority, but with them having no relevant experience to their positions in the bank.
Mamba pleaded with all financial institutions in Namibia to refrain from using modern slavery tactics, whereby instead of promoting officials performing the duties in acting positions, they recruit externally or employ foreigners in those positions.
NBWU would like the Ministry of Home Affairs to investigate all financial institutions within the boundaries of Namibia who are making use of foreigners at the expense of well qualified and well experienced Namibian citizens.
He added the NBWU is against any form of xenophobic attacks and condemns it the strongest term possible.
Mamba added that the union would like to see Namibias unemployment below 15 per cent during the 2018/2019 financial year.
The SME Bank is owned by the Namibian Government and Metropolitan Bank of Zimbabwe (MetBank).
The Namibian Government owns a majority of 51 per cent, MetBank shareholders own 30 per cent, the Namibia Financing Trust 14 per cent, and a Zimbabwean businessman, Enock Kamushinda owns the rest.