FirstRand Namibia and the Namibia Bank Workers Union (NBWU) have officially signed a wage settlement agreement for non-managerial staff in defined bargaining units for the 2026/27 financial year. Effective 1 August, the agreement will see employees within the defined bargaining units receive an average increase of 5.71%, applied in accordance with the principle of performance pay. The agreement was signed by FirstRand Namibia’s Chief People Officer, Mr Moses Iinane, Chief People Officer and the President of the Namibia Workers Union, Mr Zocks Nghikundwavali. FirstRand acknowledged the professional and cooperative manner in which the negotiations were conducted, stating that it reflects the importance both parties place on open dialogue, mutual respect and finding balanced outcomes that recognise employee contribution while supporting the long-term sustainability of the business.