MBABANE:Standard Bank Eswatini and the Swaziland Union of Financial Institutions and Allied Workers(SUFIAWU) have signed a 5.6% Cost of Living Adjustment(COLA) Memorandum of Agreement.
These new developments and as per the agreement, mark the end of the strike action and the workers are expected back to work on Thursday, Jabu Shiba, the SUFIAWU Secretary General confirmed to this Swaziland News on Thursday.
But apart from the 5.6% Cost of Living Adjustment(COLA), the bank further offered the employees discretionary performance merit award of 2%(Setting the example), Right on track at 1% and Making progress(0.5%).
The union then agreed to withdraw a court case against the bank after the signing of the agreement.
Standard Bank Eswatini, workers union sign 5.6% Cost of Living Adjustment(COLA) Memorandum of Agreement to end strike action.