Africa-Press – Eswatini. The First National Bank has moved to reassure its customers that it does not anticipate any difficulties in the on-going negotiations with the Swaziland Union of Financial Institutions and Allied Workers (SUFIAW).
The union has walked out of the negotiation table following a deadlock on the cost of living negotiations.
The bank confirmed last night that it had received notification from its bargaining partners that they had been reported to the Concilliation Mediation and Arbitration Commission (CMAC) on the ongoing cost of living negotiations for non-managerial employees.
SUFIAW is demanding a 9.5 per cent salary increment, while FNB’s offer is a 5.35 per cent, which is understood to also go with an additional three per cent performance bonuses for employees.
The dispute was filed yesterday by the union, accusing the bank of employing delaying tactics.
“We were of the understanding that negotiations were still to continue, but if the union has made the decision to take the ongoing negotiations to CMAC, we welcome that and respect our employees’ right to access the conciliation process in the event of a possible dispute,” said Futhie Magagula in a statement last night.
She added that FNB did not have reason to doubt the commitment and loyalty of its employees, and ‘we value their effort and contribution’, further assuring its customers that it would continue to stand by them in every manner within its mandate, including the bank’s commitment and adherence to the principles of fair pay.
In this respect, Magagula assured that the offer at table takes into account all qualifying matters, including the bank’s performance.
“As we only received this notification today, appropriate feedback shall be shared with employees on Thursday, August 24 before any further comments are considered for the media,” she added.
“FNB assures all our stakeholders that none of the matters at table are complex, we expect settlement within a reasonable time, and that we shall be guided by lawful processes in all our actions and responses,” she further stated.
However, in the event that negotiations are extended, the bank said it did not anticipate material disruption to business operations, banking on its self service platforms, which now operate the majority of client transactions.
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