Access Bank Zambia has signed the 2025–2027 Collective Agreement with the Union, delivering a 10 percent salary increment for unionised employees.
In a statement on Wednesday, the Bank declared that the development reinforces its commitment to employee welfare, fair labour practices, and harmonious industrial relations.
It noted that following the merger between Banc ABC (Atlasmara) and Access Bank in March 2024, the newly formed institution began a thorough harmonisation process covering systems, operations, branding, and human resources.
The statement added that the Collective Agreement reached with the Union marks a significant achievement in integrating the organisations, finalising the harmonisation of human capital for the merged company.
It explained that with the completion of the human capital harmonisation process, employees now benefit from several key enhancements: the implementation of a 13th cheque, enhanced employer pension contributions applicable to all personnel, leave allowance calculated as a percentage of annual salary, and access to subsidised staff loans offered at competitive rates.
Speaking at the signing ceremony, Bobbline Cheembela, Access Bank Zambia Deputy Managing Director, remarked that the Agreement reflects the Bank’s people-centred approach and commitment to fair outcomes.
Mr Cheembela observed that the Collective Agreement is a significant milestone, as it not only concludes the first post-merger negotiations but also seals the harmonisation process between Banc ABC and Access Bank.
He acknowledged that while the process took longer than anticipated, it resulted in better conditions of service for all staff and ensured that no employee was left worse off.
Mr Cheembela commented that the Agreement reflects a balanced outcome on key items including basic pay, housing, subsistence, shift, mileage, and transport allowances, among others.
He emphasised that in addition to the 10 percent salary increment, unionised employees also benefit from enhancements to other allowances, while ensuring sustainability for the Bank.
Mr Cheembela asserted that the outcome demonstrates the Bank’s commitment to its employees.
“Our people remain at the centre of our strategy. We firmly believe that a motivated, rewarded, and engaged workforce is critical to the Bank’s long-term success. This Agreement therefore goes beyond compliance; it is a deliberate investment in our employees and in the future sustainability of the institution,” he stated.
The Deputy Managing Director reaffirmed the Bank’s commitment to fostering harmonious labour relations and to working closely with the Union as a strategic partner in promoting employee welfare, open communication, and mutual trust, in line with the law.
Zambia Union of Financial Institutions and Allied Workers (ZUFIAW) Secretary General, Kasapo Kabende, declared that the Union is delighted that the process has reached its conclusion.
Bargaining Unit Chairperson, Constance Mwanachilenga, commended representatives from both Management and the Union for working tirelessly to bring the Collective Agreement to a successful conclusion.
Access Bank Acting Head of People and Culture, Martin Mpandamabula, remarked that the unit remains committed to clear and consistent communication to ensure that employees fully understand and benefit from the provisions of the Agreement.
Earlier, Access Bank Zambia Management Delegation Leader, Christopher Mwelo, explained that the Agreement strikes a balance between employee welfare and organisational sustainability.
This was contained in a statement issued by Access Bank Zambia’s Head of Corporate Communications and Brand Management, Kalumbu Nyikosa-Kearns.
