Momentum Metropolitan Namibia, NBWU sign wage deal
By Hilary Mare
MOMENTUM Metropolitan Namibia this week signed a substantive wage agreement with the Namibia Bank Workers Union (NBWU), following a constructive and collaborative negotiation process.
The Agreement includes salary increment of between 4% to 8% based on earning ranges and performance, housing allowance to increase from N$2600 to N$3000 (N$400 increment), transport allowance to increase from N$600 to N$700 (N$100 increment) and medical aid membership will not be limited to Namibia Medical Care (NMC) and that employees will be allowed to apply for membership from other available funds in the market.
“The current economic environment continues to place significant pressure on the Momentum Metropolitan group, but we are glad to have achieved an agreement that is fair to our employees, while still ensuring our business remains viable for the long-term.
“This agreement is in full and final settlement of all substantive matters for the year 2018/2019 and no other substantive negotiations will be entered into for the year 2018/ 2019. We commit ourselves to the implementation of this agreement and will continue to count on the sound harmonized industrial relations we are enjoying as partners.
“We look forward to continue working together in contributing to the well-being of all Momentum Metropolitan Namibia employees, because in the end “What matters to all employees, matters to Momentum Metropolitan Namibia”, said Momentum Metropolitan Namibia Group CEO, Grant Marais.
The official Agreement was signed on 19 June 2019 which has provided the social marriage of the two parties in pursuit of a decent work program not forgetting rewarding employees for what they are worth.
“Allow us space to comment and applaud MMI holdings and NBWU for a swift and efficacious salary negotiation.
Salary negotiations are the backbone statutory continuum of collective agreements which both parties should cultivate and nature.
However, if not carefully natured it can create a very hostile working environment which has potential to office catastrophe. MMI holdings and NBWU relationship from the onset was unofficial for years but proof to be superlative of which other organizations should borrow or learn from,” Moses Mamba, Secretary General of NBWU said.