STAFF WRITER
The Zimbabwe Banks and Allied Workers Union (ZIBAWU) has made an application at the High Court which seeks to compel bank employers to pay their employees using the prevailing exchange rate.
In a court application under Case Number HC5634/19, ZIBAWU is seeking a declaratuer to the effect that the collective bargaining agreement dated July 1, 2010, October 10, 2018 and January 29, 2019 be reviewed.
National Employment Council for the Banking Industry, Bankers Employers Association, Send Money Home, Agricultural Bank of Zimbabwe and Standard Chartered Bank of Zimbabwe are cited as respondents in the court application.
“It is ordered that the collective bargaining agreements dated July 01, 2010, October 10, 2018 and January 29 2019 entered into by and between applicant for and on behalf of its members and the second respondent also for and on behalf of its members (third and sixth
respondents among others) , in terms of Labour Act (Chapter 28:01) be and are hereby declared legally valid and binding for all intents and purposes in terms of the value of US$ currency that prevailed at that time of consummation of such collective bargaining agreements before the promulgation of Statutory Instrument 33 of 2019.
“The salaries and wages in terms of the collective agreements mentioned and agreed in terms of Labour Act (Chapter 28:01), be and are hereby declared to be payable in the US$ currency which was agreed on as at the date of the aforesaid collective bargaining agreements and SI 33 of 2019 or any other shall not have any retrospective effect
to vary or change payment of salaries and wages under such collective bargaining agreements in US$ value,” read part of the court papers.
“The currency at the date of the collective bargaining agreements being the US$ , officially trading at par with the local currency as at that date , it is hereby declared that all salaries and wages in terms of the aforesaid collective bargaining agreements be payable in
the stable US$ currency.”
The banks are yet to respond to the application.
The move by ZIBAWU is likely to trigger a massive response from other labour unions.
This latest move is going to pose a serious headache to a lot of employers including government. Finance and Economic Development minister Mthuli Ncube this week urged employers to review salaries to cushion employees against the rise in the cost of living.
