Grievances of unhappy bank staff still being heard

THE Namibia Financial Institutions Union says it is still consulting close to 90 former Swabou staff members before going back to court over employment issues arising from a merger with First National Bank last year.

The 89 employees claim that FNB Holdings “unilaterally” changed the terms of their employment. Swabou merged with First National Bank of Namibia in July last year.President of the Namibia Financial Institutions Union (Nafinu), Alex Kamaundju, said this week that consultations were taking longer than expected.The workers allege that the new management refuses to take their years of service into consideration when they apply for leave and other benefits.FNB has said it will defend its position.The union has “unlimited time” to prepare its arguments before returning to court.Nafinu was originally opposed to the merger, fearing job losses, South African dominance and the formation of a monopoly.Kamaundju said some employees still had to be given official job contracts while others had been demoted.FNB Namibia was established in 1988 and listed on the Namibian Stock Exchange in 1997.Swabou was formed in 1979.Swabou merged with First National Bank of Namibia in July last year.President of the Namibia Financial Institutions Union (Nafinu), Alex Kamaundju, said this week that consultations were taking longer than expected.The workers allege that the new management refuses to take their years of service into consideration when they apply for leave and other benefits.FNB has said it will defend its position.The union has “unlimited time” to prepare its arguments before returning to court.Nafinu was originally opposed to the merger, fearing job losses, South African dominance and the formation of a monopoly.Kamaundju said some employees still had to be given official job contracts while others had been demoted.FNB Namibia was established in 1988 and listed on the Namibian Stock Exchange in 1997.Swabou was formed in 1979.