The Zimbabwe Allied Workers’ Union and the Bankers’ Association of Zimbabwe have agreed on a minimum salary of $575 per month after protracted salary negotiations that began last year.
The increment covers the period July 1 2010 to December 2011.
Over and above the basic salaries the employees would entitled to a $150 housing allowance and $26 for transport.
In a circular to its members, Zibawu said the agreement, though not guaranteeing luxurious living standards, was in line with the objective of guaranteed decent work.
“We are neither happy nor sad to announce that the agreement has been finally signed off. We are not there yet, but we are definitely on course, especially if we look over our shoulders and check our departure point of $120 in February 2009 and now the lowest minimum of $575,” reads part of the circular.
“The union will continue to push for decent NEC minimums and continue to assist those workers’ committees who want to bargain for more.”
Contacted for comment Zibawu president, Peter Mutasa said the agreement was a huge compromise and admitted the modus eperandi should change under the new era of multiple currency regime.
He however said there could be other banks who might want to argue that they could not afford the agreed salary scales.
“We anticipate there could be one or two trouble spots, but we are willing to assist workers’ union and their employees find a common position,” said Mutasa.