Thursday, May 15, 2025
  • About
  • Advertise
  • Privacy Policy
  • Cookie Policy
  • Contact
  • Subscribe
  • E-edition
  • Login
  • Home
  • News
  • Economy
  • E-Edition
  • Companies & Markets
  • In Business With
  • Lifestyle
    • Motoring
  • Sports
    Region 5 Empowers Optometrists for Inclusive Sport

    Region 5 Empowers Optometrists for Inclusive Sport

    Summer Kids Marathon Targets 1,500 Participants

    Absa promises “bigger and better” Kids Marathon

    Young Motswana Golfer Shines in Zimbabwe Tournament

    Young Motswana Golfer Shines in Zimbabwe Tournament

    Young Bowlers Make Historic International Debut in South Africa

    Young Bowlers Make Historic International Debut in South Africa

    UDC govt prioritises school sports, athlete welfare – Kelebeng

    Botswana to overhaul sports laws, strengthens anti-doping measures

    BFA Seeks Financial Backing For Continental Showdowns

    BFA Seeks Financial Backing For Continental Showdowns

  • Subscribe
No Result
View All Result
  • Home
  • News
  • Economy
  • E-Edition
  • Companies & Markets
  • In Business With
  • Lifestyle
    • Motoring
  • Sports
    Region 5 Empowers Optometrists for Inclusive Sport

    Region 5 Empowers Optometrists for Inclusive Sport

    Summer Kids Marathon Targets 1,500 Participants

    Absa promises “bigger and better” Kids Marathon

    Young Motswana Golfer Shines in Zimbabwe Tournament

    Young Motswana Golfer Shines in Zimbabwe Tournament

    Young Bowlers Make Historic International Debut in South Africa

    Young Bowlers Make Historic International Debut in South Africa

    UDC govt prioritises school sports, athlete welfare – Kelebeng

    Botswana to overhaul sports laws, strengthens anti-doping measures

    BFA Seeks Financial Backing For Continental Showdowns

    BFA Seeks Financial Backing For Continental Showdowns

  • Subscribe
No Result
View All Result
The Business Weekly & Review
No Result
View All Result
Home News

Banks retrench nearly 400 during SoE and COVID-19

A total of 390 people left the employ of various local banks during the state of public emergency, The Business Weekly & Review has established.

mm by Baboloki Meekwane
October 12, 2021
in News
0
Banks retrench nearly 400 during SoE and COVID-19

Mpho Balopi (Pic by Tshekiso Tebalo/ Press Photo)

0
SHARES
65
VIEWS
Share on FacebookShare on Twitter
  • Technology said to be replacing human capital in local banks
  • Banks using voluntary separation to retrench
  • Minister says labour laws were not broken

The Minister of Employment, Labour, Productivity and Skills Development, Mpho  Balopi, said  in answer to a question from the MP for Bobonong, Taolo Lucas, who wanted to know the number of employees who left the employ of local banks since the advent of COVID-19, the number of employees per bank who left through voluntary separation or mutual separation, if there are any banks that are writing retrenchment letters to employees, the major reasons banks are generally reducing the number of employees, and when last the Labour Department perform inspections in the banking sector to ascertain fair labour practices.

According Minister Balopi, 151 bank workers left through voluntary separation while 239 left through the normal avenues of end of contract, resigning, and retirement.

Of the 239 who left through the normal avenues, Absa Botswana led the numbers with 111 followed by First National Bank Botswana (FNBB) with 106. Standard Chartered Bank had 83, Botswana Building Society 22, Bank Gaborone 22, Stanbic had 16, Botswana Savings Bank had 12 leave their employ while Bank ABC, the Bank of Botswana and First Capital Bank have retained all their employees.

Of the 151 who left through voluntary separation, Standard Chartered parted ways with 64 employees followed closely by Absa and FNB with 38 and 64 employees respectively.

Balopi said Stanbic Bank and State Bank of India had written retrenchment letters to staff and engaging the Commissioner of Labour but Stanbic decided to withdraw such letters while the latter sought to get 8 of its 9 employees to be absorbed by its sister company, Bank of Baroda, as it was closing shop.

Banks are said to have reasons like new technology and innovations that dispose of the need for human capital, as well as centralisation of services and closure of branches.

Nevertheless, Minister Balopi assured Parliament that labour regulations were followed that his ministry’s training and development department will advocate for the retooling of bank workers to get them more acquainted with new technology.

Tags: Absa BotswanaCOVID-19FNBBMpho  Balopi

Navigation

  • Home
  • News
  • Economy
  • E-Edition
  • Companies & Markets
  • In Business With
  • Lifestyle
    • Motoring
  • Sports
  • Subscribe

Recent News

  • First Capital Bank Hosts ‘Wealth Insights’ Webinar Series Focused on Wealth Management
  • May 9th Edition
  • Gambling is big business in Botswana
  • Overshadowed by SACU
  • An Unskilled and Unproductive Workforce Threaten Diamond Beneficiation

Site

  • About
  • Advertise
  • Privacy Policy
  • Cookie Policy
  • Contact
  • Subscribe
  • E-edition

© 2021 The Business Weekly & Review. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
  • Economy
  • E-Edition
  • Companies & Markets
  • In Business With
  • Lifestyle
    • Motoring
  • Sports
  • Subscribe

© 2021 The Business Weekly & Review. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?