AFC Bank executives amass US$245k Land Cruisers as employees wallow in poverty
Business Reporter
A petition handed over by the Zimbabwe Banks and Allied Workers Union (ZIBAWU) to the AFC Bank board chairperson alleges that top management staff members are creaming off rich benefits while ordinary workers wallow in poverty.
The worker’s group has been at loggerheads with the bank’s top management lately with a number of meetings held to rectify the problems bedeviling the ordinary workers failing to yield anything meaningful.
This prompted the ZIBAWU to stage a demonstration and handover a petition against the illicit conduct by the Bank on Wednesday.
“We the members of ZIBAWU write this petition to address multiple concerns regarding the deteriorating state of industrial relations at the AFC Bank.
“We are deeply troubled by the perceived discrepancies between executive perks and the wages of the lowest paid workers , as well as the need to investigate the bank’s procurement processes and transactions,” the ZIBAWU petition reads in part.
The workers group believes that the significant gap between executive perks and the wages of the lowest paid workers is unjustified .
“It has come to our attention that AFC top executives are provided with lavish benefits including the latest land cruisers valued at US$245 000 and managerial staff receive over US$80 000 car loans which are conveniently paid for through car allowances , security allowances , clothing allowances and fuel allowances .
“These excessive perks stand in stark contrast to the struggles faced by workers who are deprived of dollars to sustain their families,” the union said.
The workers group slammed the executives for receiving a cumulative 110% salary increase this year while ordinary workers did not receive anything meaningful.
It is alleged that the bank used over US$50 000 for the renovation of a rented property .
“We kindly request an explanation of how the bank intends to recover this amount .It these and other amounts that drain the bank of funds that should be used for staff welfare. It is our view that the bank is losing market share and we believe that this is all linked to poor leadership of the organization,” said ZIBAWU.
The workers group said under the current CEO Mr Ken Chitando the bank has shown `a lack of commitment to enhance the lives of its employees on the back of calls for the board to prioritise the welfare and fair treatment of AFC Bank workers.
“We urge the bank to conduct a comprehensive review of wage structure and address the unjustified disparities between executive perks and the lowest paid workers. There is need to engage in meaningful negotiations with the Workers Committee and ZIBAWU to establish fair and improved working conditions for AFC Bank employees,” the union said.
The workers group also called on the bank’s management to provide financial support and relief to AFC Bank workers during the Christmass period ensuring that they can meet the needs of their families without any hardship and conduct a thorough review of the current management’s approach to industrial relations and take the appropriate steps.
