Investrust workers win KR 700 salary increment across the board

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Investrust Bank Plc has awarded a KR700 salary increment across the board to its unionized staff negotiations for the 2013 conditions of service.


The KR700 increment collective agreement is effective 1st January, 2013 and it will be back dated for six months.


Investrust Bank Managing Director (MD) Friday Ndhlovu says the salary negotiation demonstrates the Bank’s commitment to ensuring a highly motivated workforce through competitive conditions of service and that the staff and customers remain a top priority for the bank.


Speaking at a signing ceremony for the 2013 salary collective Agreement between the Bank and Zambia Union of Financial Institutions and Allied Workers (ZUFIAW) held at the Bank Head Office Boardroom in Lusaka today, Mr. Ndhlovu thanked the Union and Management for successfully closing the bargains.


Mr. Ndhlovu said the agreement is meant to harmonize the relationship that exists between the bank and the Union.


He further disclosed that the Bank has set aside KR1.7 million in this year’s budget to fund various training programmes.


And ZUFIAW Secretary General Joyce Nonde-Simukoko who witnessed the signing ceremony commended Investrust Bank for among other things respecting the zamian labour laws.


Ms Simukoko said there has not been problems with the Bank’s negotiating team


She said it was high time the Zambian people became united to financial institutions  who did not respect their workers.


“This collective bargaining on salaries signed today we have not had several problems with Investrust and l should commend the Bank for respecting the Zambian labour laws,” Ms Simukoko said


She re-called that Standard Chartered Bank Zambia last week successfully concluded salary negotiations for 2013 conditions of service and increased a KR900 across the board for its unionized staff when other financial institutions have not yet done so.


In 2012, the unionized staff Standard Chartered Bank got KR750 perks for that period’s financial year.


Most workers at Investrust Bank Plc talked too by ZANIS expressed gratitude at the KR700 payrise saying it would make a difference in their daily living.


Meanwhile, Investrust Bank Deputy Managing Director Richard Phiri has disclosed that five more branches would be opened before the end of this year.


Mr. Phiri named the new outlets as Chibombo, Choma, Mongu, Ndola and in Lusaka along the Mumbwa road.


He said the Bank with a 450 total workforce would create additional 50 jobs to make it 500 jobs in line with the Patriotic Front Government of putting more money in people’s pockets.


“Five more out-lets will be build before the end of 2013 to add to the existing ones. As Investrust, we shall be able to create 50 jobs in line with government agenda of empowering the Zambian people,” Mr. Phiri said.


The Deputy MD, who did not disclose how much the ambitious expansion programme would gobble, said his institution has repositioned itself by diversifying programs in an effort to contribute to the country’s economy.