The Federation of Free Trade Unions of Zambia (FFTUZ) president Joyce Simukoko has advised the new government to disclose the reasons why Finance bank was sold to FirstRand bank of South Africa.
Mrs. Simukoko added that the reasons why Finance bank was sold are not well known and therefore the union cannot state on whether the sale of the bank should be reversed or not.
She however wondered why Finance bank had always found itself in trouble under the MMD government.
Meanwhile, the union has commended President Michael Sata for highlighting the terms under which the Chinese investors are expected to operate in the country.
Mrs Simukoko said that the previous government gave to much power to the Chinese investors resulting in the exploitation of the workers in the country.
[pullquote]Mrs. Simukoko however noted that even the local business owners are also culprits of ill-treating of workers in the country through low wages.[/pullquote]
Mrs. Simukoko however noted that even the local business owners are also culprits of ill-treating of workers in the country through low wages.
The trade unionist says it is important therefore that the new government also ensures that workers rights are respected irrespective of who the employers are.
QFM
Yes especially bamwenye as we call the Zambians of the Asian origins, Pazambia awe do we have Indians of the Zambian or African origin in INDIA. Giving these guyz a nationality is a waist of time. This will create huge problems in the future of our country coz these guyz have money and with money you become powerful, if not watched we will go back to colonial times and this time with India
The union need not worry they won’t be consulted when time comes for reversing the transaction, if that is the direction H.E. M. C. Sata is pursuing. As for #1 I do agree with you we need to define a Zambian a lot more as we shall soon have Zambian Chinese in this nation. PF govt needs to work tirelessly on the ensure of empowering the locals. I pray for the more money in the pockets slogan to work. We sure support PF in this endavour.
The sale of Finance Bank should be reviewed by the new govt led by MCS. Even my 10yr son saw that it was dubiosly sold, with a lot of malice in it.
Presido HE MC Sata’s govt should review the minmum wage policy which has been abused by employers, chinese or not. The minimum wage should be a percentage of the income of the business. Not 300 or 400 pin because this makes employers pay just slightly above that and they are within the law. eg K405,000.
as per promise reverse the sale of finance bank ba SATA
What I find so itneestring is you could never find this anywhere else.
Yes it was done in quite a hasty so kindly go ahead and review it as the new govt.
Those who decided to sell that bank are still there. Let us ask them to explain to us how they came to that decision. It is about time we started making people in public domains accountable for their actions. Why should it be a secret when this action affects so many citizens?
H.E . M.C Sata had indicated that the PF government will bring back PRIDE into the Zambian people. I see organisations now are airing their views. But we must just be care as some are not genuine. They were quite all along and they want to tell us what we already know.
#1 point, I too have fear,,, this pipo they come in the name of the investors but at the end, after studying our political system, you will see… So far we all know that 50% of MMD campaign material was bought by the chinese,, now imagine if MMD made it this year,, what could have become of my brother working with Chinese?
Very soon will start debates if Zambia can continue to be a christian nation or not due to the so called investors who are building mosques all over zambia
Finance bank we all know that it was sold out of ones selfish. RB thought Sata can`t win without Finance bank in zambia.
Iam reliably informed that Finance bank was ablogating on some financial regulations and mahtani was getting a share capital as an individual which was above the required quota. Lets not advocate things we do not understand. Can Your MC tell us why the bank was sold and please no lies because info is their on the public dormain
Careful we don’t fullfil the wishes of the people who borrowed huge sums of money from Finance Bank that has now been recalled by the new buyers and BOZ— you know them.  Joyce is right.  Disclose why the Bank was sold.
Lets not only talk about worker mistreatment in terms low wages. we need to also talk about revaluation of the companies being run by these so called investors. When they come into the country, they declare to ZDA that they will set up a business worth a million dollars but if you look at the actual equipment and general surrounding from which they operate, its only worth less that 200 000 dollars. We dont want investors who come and cheat us.
Secondly, the Immigration department should tell the nation how many chineese are permitted in each organisation they have set up. This will help local workers to scrutinise these investors, report them to authorities and control their influx to Zed.
Joyce is being cheap here. FBZ was sold to FNB becoz FBZ did not hv enough regulatory capital to continue operating. Otherwise FBZ shud hv been closed. She knows these details but just trying to politic. FBZ has always hv problems with govt becoz the bank is not run professionally starting with the former chairman(MAHTANI), who is a crook. It wud be a disservice to the nation if crooks are glorified in the name of removing MMD.
Joyce Nonde Simukoko you are right on….. Some Zambian employers also should be looked into. Our own people too do not follow labour laws. Children have really suffered they are slaves in some of these companies. Only the top brass get good salaries. Conditions of service are worse than in colonial days. Yet, the young people have no choice but continue working under such hardships. FFTUZ also encourage unions in private financial institutions. Deliberately I dont want to mention names here……this is why the young ones turned up to vote so that they could be protected from slavery in their own country.
i think the selling of finance should be reverse by H.E sata. R.B sold it because he wanted to have money for his compaigning, now that money has gone mumenshi!!! H.E do something we have alot of accountant who are waiting to start the job at finance bank.
Not only finance bank needs to be reverse but even the selling of Zamtel,Dora(watermelon)siliya is the calprit.
Chinese and Indians are the worst culprits..deport them if they don’t follow !
Joyce has made some good points but she should also come out clear and tell people that she and her union failed to improve conditions for the employees of FBZ they were amongst the worst paid in the banks. some even believe that ZUFIAW was being bribed by Mahtani not to push for better conditions.
And also ithas been clear for years that Finance Bank was not run properly and really BOZ should have just closed the bank and walked away leaving the 800 people unemployed. That was what BOZ did in the past.
# 18 NO BOZ SHOULD NOT CLOSE THE BANK AND WALK AWAY. BOZ SHOULD HAVE ALLOWED ZAMBIAN BANKS LIKE CAVMONT AND OTHERS TO BID TO BUY THE ASSETS OF FINANCE BANK, WHILST TAKING OVER THE BAD DEBT AS THEY DID FOR FNB. THIS WOULD HAVE EMPOWERED LOCAL BANKS, PRESERVED JOBS FOR FORMER FINANCE BANK EMPLOYEES AND ALLOWED THE ECONOMY TO SELF BENEFIT THAN ALLOW ALL THE BENEFITS TO GO TO RSA. YES THE SALE OF FINANE BANK TO FNB WILL BE REVERSED AND THE RIGHT THING FOR IDIGNEOUS ZAMBIAN BANKS AND ZAMBIANS INCLUDING FLOATING SOME SHARES AT LSE WILL BE DONE!
GO AHEAD YOUR EXCELLENCE MCS WE ARE WITH YOU!
All the *****s have now become angels.
I am paying my MAID K600000.00 WHICH is 10% of my net salary. She works half day on Friday and knocks off at 12 hrs on Saturday.
She is entitled to full meals during her tour of duty i.e breakfast and lunch and a nice warm bath when she knocks off.
I am seriously considering increasing her salary to K700000 and two leave days per month.
Am i within the law?? please advise me before i am swallowed up.
For those who are CURIOUS–> I am engaged to a Bank Manageress and she gets at least 3 times what i get..
before i am swallowed up by the NEW PF GOVERNMENT…..AM I PUTTING ENOUGH MONEY IN HER POCKET??
Ask pipo who are working for FBZ if they want to go to FNB? they should reverse transaction.
# 21 you are an investor. keep it up. You can also employ a Garden boy
No 23 who cares about the employees of FBZ and what they think is best for them? No one not even this pretender job seeker Joyce especially her she is a big snake
# 19 MundiaM
you are really joker, cavmont bank, of all the banks in zambia, the bank has no ATM facility and you relly think it can properly manage FBZL, by the way cavmont is no longer being run by Zambians only but with Capricon investment Holding ltd (Namibia) which acquired about 40% shares. cavmont services are bad. BOZ must do somothing RIGHT about FBZL.
NO 24SHAMS
Thanks!! will look into it…….i will also employ $ SILLIER as my second MAID…..WITH HER BUMS….HOW CAN I GO WRONG! WILL NEED TO PAY EXTRA FOR THOSE SOFT BUMS