Banking Sector Approves 10% Wage Increase for 2025

Zim Now Writer 

Zimbabwe’s banking sector has approved a 10% wage increase for employees in 2025, with the lowest-paid worker set to earn US$709 per month, while the highest-paid employee will receive US$1,284.

According to a collective bargaining agreement dated February 3, 2025, employers are required to pay 73% of salaries in US dollars. However, those unable to meet this threshold may apply for an exemption from the National Employment Council (NEC) for the Banking Undertaking Zimbabwe.

The wage adjustment also includes increases in housing and transport allowances.

Additionally, the agreement resolves outstanding salary disputes from the second, third, and fourth quarters of 2024, bringing closure to previous negotiations.