Staff Writer
FirstRand Namibia and the Namibia Bank Workers Union (NBWU) have concluded a wage settlement agreement for the 2026/27 financial year, with employees in the defined bargaining unit set to receive an average salary increase of 5.71%.
The agreed adjustment will take effect from 1 August 2026 and will be implemented in line with the principle of pay for performance, the financial services group said.
The agreement was signed by FirstRand Namibia Chief People Officer Moses Iinane and NBWU President Zocks Nghikundwavali.
FirstRand Namibia said the negotiations were conducted in a professional and cooperative manner, highlighting the role of constructive engagement between the employer and employees’ representatives.
“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,” the company said.
