ABSA Bank Zambia PLC has signed a collective bargaining agreement with two unions, granting a 14 percent salary increase to unionized employees, effective April 1, 2025.
The agreement, which covers the period from January 1, 2025, to December 31, 2026, was signed in Lusaka.
ABSA Bank Zambia Chief Executive Officer Mizinga Melu expressed pride in the agreement, highlighting the bank’s commitment to employee growth and welfare. She noted that ABSA Zambia has been recognized as a Top Employer for the fourth consecutive year, adding that the new agreement reinforces the bank’s dedication to staff well-being.
Zambia Union of Financial Institutions and Allied Workers (ZUFIAW) Vice President Marina Kabonga emphasized the importance of collaboration in achieving fair labour practices.
Bankers Union of Zambia (BUZ) President Melvis Saviye praised the bank’s commitment to staff welfare, describing the agreement as part of ABSA Zambia’s ongoing efforts to position itself as an employer of choice.
