Standard Chartered is a bad bank to work for

Dear Editor, allow me space to expose some of the injustices that are taking places at our work places in this PF government. I work for one of the oldest and supposedly reputable bank, Stanchart to be specific. I have worked for this bank for slightly over seven year on a useless contract with inhuman contract terms and conditions.  If only the PF government had created an enabling environment in the five years that they have been in government i would have find a job elsewhere but jobs are hard to come by and a mafia click of Sunny Zulu and his selfish team have taken advantage of the unemployment levels in the country to exploit junior staff at the bank with impunity.

Last week Stanchart reported a mid year profit of K201m while Stanbic recorded  K117m in second place in the financial sector in Zambia.  if you analyse the two statement you will note that Stanbic reported a high income compared to Stanchart but because they abide by the laws of the country and follow the set minimum wages their net profit reduced because of operating reasonable expenses reported in the financial statement.

My cry on behalf of all junior employees at Stanchart is that regulatory bodies such as BOZ should regulate the way the bonus structures are structured. At Stanchart senior members of staff get huge performance bonus based on  profits and this is the source of our problems as Sunny and his click try by all means to make huge profits at the expense of junior employees by under paying them and employing them on contracts even it means going against the law.

About two months ago this failed PF government had passed a law to curb such vices which they have failed to implement. Why give hope to Zambians when you know you don’t have the capacity to enforce certain policies and laws.

I can’t wait for 11th for HH come and FIX IT.


Disappointed Start chart employee.

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