- Agreement Includes A Four Percent Salary Increase For The Year 2020 And A Further 3 Percent Salary Increase For The Current Year 2021
- Enhanced Terms And Conditions To Benefit Over 20,000 Unionisable Employees Within The Industry
Nairobi 23rd August 2021 – The banking industry has successfully concluded its union negotiations for the 2020 to 2023 period, providing enhanced terms and conditions covering over 20,000 unionisable employees within the industry. Under the agreement, the unionisable employees will get a four percent salary increment for the year 2020 and a further three percent pay rise for the current year 2021. The enhanced terms and conditions of work for the unionisable staff demonstrates the industry’s commitment to efficient and effective service delivery to banking public amidst the COVID-19 pandemic.
“We are pleased with the outcome of the union negotiations,” said Dr. Habil Olaka, Kenya Bankers Association Chief Executive Officer. “Bank employees have been essential workers throughout this pandemic, and we thank them for their personal sacrifice and commitment to deliver uninterrupted services to the banking public. Banks are also working to ensure all employees are vaccinated through the Kenya Private Sector Alliance-led program as employee safety is of utmost importance for the industry,” he said.
About the Kenya Bankers Association:
KBA (www.kba.co.ke) was founded on 16th July 1962. Today, KBA is the financial sector’s leading advocacy group and banking industry umbrella body that represents total assets in excess of USD 40 billion. KBA has evolved and broadened its function to include advocacy on behalf of the banking industry and championing financial sector development through strategic projects such as the launch of the industry’s first P2P digital payments platform PesaLink. In line with the Government’s policy on public-private partnerships, KBA and Central Bank of Kenya have implemented key projects such as modernization of the National Payments System through the Automated Clearing House, implementing the Real Time Gross Settlement System (RTGS), and the Kenya Credit Information Sharing Initiative. The KBA members are comprised of commercial banks and deposit taking microfinance banks.
KBA Director of Communications and Public Affairs