BANK OF ZAMBIA ACTS IN FINANCE BANK WORKERS WELFARE NEEDS

Bank of Zambia has ordered that no Finance Bank employee should resign prior to First Rand Group taking over operations of the financial institutions.

First Rand Group had given workers a one-week ultimatum to resign after its 27 billion kwacha purchase of Finance bank.

But Federation of Free Trade Unions Secretary General, Joyce Simukoko says the central bank has reversed the order.

The Bank of Zambia directive follows negotiations among the trade union movement, the Bank of Zambia and the First Rand Group.