News

The UNI Finance affiliate ZIBAWU (Zimbabwe Banks and Allied Workers Union) raised serious concerns regarding poor corporate governance and weak regulatoray systems which resulted in many bank closures in Zimbabwe. In 2003/204 over 12 banks were closed. More recently, from 2011, a total of 9 Banks closed rendering 1222 employees and ZIBAWU members jobless.

Zibawu decided to take action and ran a successful campaign targeting both the Reserve Bank and the Parliament of Zimbabwe, sending petitions, organizing successful media events as well as a peaceful demonstration on March 5th 2015.

Today Zibawu met the Reserve bank of Zimbabwe Governor Dr. J. P. Mangudya to discuss the issues raised in their petition.

As a way forward the Governor agreed to:

(i) Meet the Union every quarter to discuss issues of mutual interest.

(ii) Guarantee ZIBAWU participation in the Banking Law reforms exercise that is being proposed and whose principles are before the Cabinet.

(iii) Render the Central Bank’s support in our efforts in seeking the Parliament of Zimbabwe to enact a law which protects workers who report malpractices and fraud by Bank shareholders, Executive and Management.

The Zibawu campaign is yielding positive results and the union is now waiting for a date with the Parliamentary Portfolio Committee on Budget and Finance. The union leaders will meet with the members of Parliament to explain our views contained in our Petition in order to gain the support of many of them.