FirstRand Namibia and Bank Workers Union Sign Wage Deal
FirstRand Namibia and the Namibia Bank Workers Union have signed a wage settlement agreement for employees within the defined bargaining unit for the FY 26/27. The agreed average increase of 5.71% will be applied in accordance with the principle of pay for performance and will be effective from 1 August 2026.
The agreement was signed on behalf of FirstRand Namibia by Moses Iinane, Chief People Officer,
and on behalf of the Namibia Bank Workers Union by Zocks Nghikundwavali, President. FirstRand Namibia acknowledges the professional and cooperative manner in which the negotiations were conducted and extends its appreciation to the Namibia Bank Workers Union for its constructive participation throughout the process.
The successful conclusion of the negotiations reflects the importance both parties place on open dialogue, mutual respect and finding balanced outcomes that recognise employee contribution while supporting the long-term sustainability of the business.
