SUFIAW MEMBERS AT STANDARD BANK LOCKED OUT FOR COLA STRIKE ACTION

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Written by Fundizwi Sikhondze

Workers and members of the Swaziland Union of Financial Institutions and Allied Workers (SUFIAW) at Standard Bank Eswatini who are now in the second week of their nationwide strike action have just been hit with a lockout notice by the employer. The strike action seeks to pressure the employer to pay Cost of Living Adjustment (COLA) rate of 7.5% while the employer (Standard Bank) has offered SUFIAW members 5.15%.

The strike started out on Tuesday 23^rd July 2024 and received wide ranging media coverage, particularly the Manzini and Mbabane branches. On Tuesday 39^th July 20204 with the strike action set to enter its seventh day the employer through Chief Executive (CE) Mvuselelo Fakudze issued correspondence ( that we have in our possession) addressed to SUFIAW Secretary General Jabulile Shiba informing her office that they were now invoking Section 86 (9) of the Industrial relations Act (2000 as amended) to effect a lock out of all workers with effect from Friday, 02 August 2024. The CE added that they were effecting the lockout, “In view of the intransigence of the union and in an effort to persuade the union to accept this (5.15% COLA) offer”.

The CE continued and informed the SG that in terms of the lockout they were effecting as the employer workers who fall within the bargaining unit of SUFIAW (members of SUFIAW at Standard Bank) would be expected to confine themselves to designated picketing areas. In furtherance of the foregoing the CE explained that this would mean that SUFIAW members would not be permitted to enter premises of Standard Bank around the country, any office or backroom of any banking hall ,as well floors 2, 4 and 5 of the Corporate Place in Mbabane.

Sources within SUFIAW expressed shock at the latest move by the employer firstly because as far as they are concerned negotiation between the two parties had progressed over the last few days to the point that the bank had moved to 5.5% from 5.15% and SUFIAW from 7.5% to around 6%.

It is worth noting that this strike action by SUFIAW at Standard Bank is a second such action in two successive years. In the year 2023 Standard Bank workers under SUFIAW engaged in a similar strike action for COLA which was however swiftly settled by the parties after one day of striking.

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