FirstRand Namibia and the Namibia Bank Workers Union (NABWU) have concluded a wage agreement for employees within the defined bargaining unit, securing an average salary increase of 5.71% for the 2026/27 financial year.
The increase will take effect from 1 August 2026 and will be implemented in line with the company’s pay-for-performance principle.
The agreement was signed on Thursday by FirstRand Namibia’s Chief People Officer, Moses Iinane, and NABWU President, Zocks Nghikundwavali.
FirstRand Namibia said the negotiations were conducted in a professional and cooperative manner and thanked the union for its constructive engagement throughout the process.
The bank said the agreement reflects both parties’ commitment to open dialogue, mutual respect and reaching a balanced outcome that recognises employee contributions while supporting the long-term sustainability of the business.
