Standard Bank Namibia workers threaten strike over pay dispute

Standard Bank Namibia workers are threatening industrial action after wage negotiations collapsed this week, accusing bosses of rewarding executives while offering staff a mere 5% increase.

If approved, the strike could disrupt services at one of Namibia’s largest commercial banks.

This comes as workers are accusing the bank of rewarding executives while refusing to meaningfully improve the salaries of the staff behind its N$1.2 billion profit.

Standard Bank Namibia has confirmed that negotiations for the 2026/27 wage cycle had reached a deadlock, but defended its offer, saying it had negotiated in good faith.

Namibia Financial Institutions Union secretary general Asnath Zamuee yesterday said workers were angered by what they view as a growing imbalance between executive rewards and employee compensation.

“The bank generated approximately N$1.2 billion in profit through the dedication and hard work of its employees. Last year, the chief executive and chief financial officers received a combined N$8 million in bonuses. Given that the bank has recorded even higher profits this year, those bonuses are likely to have increased,” she said.