Standard Bank Namibia and the Namibia Financial Institutions Union (NAFINU) have concluded their 2026 wage negotiations, agreeing to an average salary increase of 6% for employees, effective retrospectively from 1 March 2026.
The wage agreement was signed on 17 July following collective bargaining negotiations between the bank and the union.
The two parties said the agreement recognises employees’ contribution while balancing staff welfare with the long-term sustainability of the bank.
Standard Bank Namibia Chief Executive Erwin Tjipuka said the agreement delivers a fair outcome for employees while supporting the institution’s long-term growth.
“We are pleased to have reached an agreement that is fair to our employees and sustainable for the organisation. Our people are central to our success, and this agreement reflects our continued investment in their wellbeing, financial security and future,” Tjipuka said.
He thanked NAFINU for its constructive engagement throughout the negotiations, saying the parties had worked together to reach a mutually beneficial outcome.
NAFINU Secretary General Asnath Zamuee said the agreement followed extensive negotiations conducted in good faith.
“This agreement is the result of open, honest and rigorous engagement between the parties. We welcome the outcome and believe it advances the interests of our members while supporting stability within the institution,” Zamuee said.
She said the negotiations demonstrated the value of constructive dialogue and respectful engagement in resolving matters of mutual concern.
Standard Bank Namibia and NAFINU said the negotiations were concluded without any disruption to banking services, ensuring continuity for clients, stakeholders and the wider public.
The parties added that they remain committed to supporting employees, delivering quality service to customers and contributing to Namibia’s economic growth.
