First National Bank (FNB) Zambia employees have been awarded an 11.4-per cent average salary increment across the board for the 2026/2027 financial year demonstrating commitment to human capital.
This followed a 2026/2027 Collective Bargaining Agreement (CBA) between FNB Zambia’s management and the Zambia Union of Financial Institutions and Allied Workers (ZUFIAW) yesterday.
FNB Zambia Chief Executive Officer Kapumpe Chola said the salary increase for employees underscored the management’s commitment to fairness, transparency and rewarding contributions of its workforce.
Ms Chola said during the official signing ceremony that the CBA with ZUFIAW struck a balance between competitive employee remuneration and management’s clear performance expectations.
“At FNB Zambia, we are especially committed to fostering a high-performance culture and in return, we ensure that our employees are rewarded fairly and competitively for their contributions,” she said.
More than an adjustment, Ms Chola said that the increase in remuneration was recognition of the hard work, dedication and contributions of the employees, reinforcing the resolve to create an enabling environment.
Furthermore, she said that this remarkable achievement was also a result of strong partnerships between management and the union brought together by a shared commitment to the long-term success of employees.
“Today’s signing ceremony celebrates the spirit of collaboration with both the management and the union, it recognises that open, respectful and constructive dialogue was key to achieve such outcomes,” Ms Chola said.
Speaking at the same event, ZUFIAW secretary general Kasapo Kabende expressed overwhelming excitement with the progress FNB Zambia had made in 17-years of operations in the country.
Mr Kabende said that the bank had during this duration made tremendous contributions to Zambia’s critical sectors including the financial industry in driving the overall economic development.
“This is something that we do not take for granted, as a union we feel part and parcel of this achievement and we will as a union continue to advocate for productivity amongst our members,” he said.
Mr Kabende further noted with delight the milestones FNB had posted in recent months following the conducive macroeconomic environment created by the Government through the central bank.
He said that the Bank of Zambia had been trying to create an enabling environment by ensuring it deals with the reduction of the Monetary Policy Rate and the Statutory Reserve Ratio which are key to fiscal space for players in the financial sector.
