by Standard Chartered Zambia is delighted to announce enhancements for its unionized workforce with the successful signing of the 2025-2026 Salary Increment Collective Bargaining Agreement with the Zambia Union of Finance and Allied Workers (ZUFIAW). This agreement marks the culmination of extensive and cooperative negotiations between Standard Chartered Bank Zambia Plc and ZUFIAW.
Unveiled by the CEO of Standard Chartered Bank Zambia during the signing ceremony, the agreement includes an 8.5% salary increment and a 20% increase in housing allowance for unionized employees. This move underscores the Bank’s and the Union’s commitment to the welfare of their employees, acknowledging their hard work and dedication. Additionally, the pay revision includes a ZMW 200 lunch allowance.
Standard Chartered Bank CEO Sonny Zulu expressed his enthusiasm for the new agreement, stating, “We are immensely proud to lead the way in setting this industry benchmark for valuing employee contributions. This monumental step recognizes the exceptional hard work, resilience, and unwavering commitment of our colleagues during these times of change and uncertainty. More than ever, we are reaffirming our deep commitment to equitable, competitive, and meaningful compensation one that empowers our colleagues, inspires excellence, and reinforces our position as an employer of choice.”
The CEO also extended his gratitude to ZUFIAW for their steadfast collaboration with the Bank to achieve such outstanding outcomes.
Meanwhile ZUFIAW Deputy General Secretary Organising & Recruitment Christabel M. Bwalya expressed gratitude to the bank for the successful negotiations between the two institutions and urged the bank to continue prioritizing the interests of its employees in all its endeavours.
As the Bank continues its journey, both ZUFIAW and Standard Chartered remain dedicated to maintaining high morale and working together to ensure ongoing support and upliftment of their employees, safeguarding their interests, and ensuring appropriate recognition for all their efforts
