Earlier today, Absa Bank Zambia PLC concluded and signed the full 2023/2024 Collective Bargaining Agreement (CBA) with the Zambia Union for Financial Institutions and Allied Workers and the Bankers Union of Zambia.
The Bank has offered K2,600 salary increment across the board for all unionised employees effective 1 April 2023.
This year’s negotiations considered all conditions of service and various allowances were adjusted upwards as follows; ATM/Merchant Card and IT allowances were increased to a monthly gross of K4,400.00 while a hardship monthly gross allowance will be paid at K650.00 to employees working in Kasama, Mansa, Nakonde and Mongu.
