SASBO3.jpg 18 March 2016 SASBO Signs Section 197 Collective Agreement with African Bank Following approval by the Honourable Minister of Finance, Mr Pravin Gordhan earlier this week, the Bank and the Union, as a consequence, moved to finalise the proposed Section 197 transfer from the 'old' African Bank to the 'new' African Bank. We are pleased to advise that following months of negotiation on this matter that agreement has been reached between the parties that essentially provides for all employees of African Bank to be transferred from the 'old' Bank to the 'new' Bank as a going concern in terms of Section 197 of the Labour Relations Act of 1995 as amended (LRA), with effect from 4 April 2016. The approval by the Finance Minister will amongst other remaining substantive conditions mean that the survival of African Bank in the form of the "Good Bank" has, following a very long and difficult road, finally been realised. These changes are therefore crucial and will positively impact the livelihoods of almost 5,000 African Bank employees, the majority of whom are SASBO members. The period since the establishment of the curatorship of ABL in August 2014 had been characterised by low staff morale, with workers' feeling uncertain and insecure about their future and fearful of the ever looming threat of job losses. SASBO quickly moved at that time to sign off a Memorandum of Understanding with Mr Tom Winterboer, Curator of African Bank, to amongst others ensure certainty, stability and job protection. This historic MoU went a long way to allay members' fears and redirected their attention and focus to performing their jobs to the best of their ability. It is through the transparent and sound union-employer relations that we were able to pro-actively manage the unfolding developments and circumstances to such extent that we were able to ensure that from Curatorship to date none of our members' services have been terminated due to forced retrenchment in African Bank. It has been a truly remarkable journey to date and we take this opportunity to sincerely thank Mr Tom Winterboer for his leadership and guidance during these extremely difficult and uncertain times. Together with the new Board, CEO, Mr Brian Riley and the Executive, significant progress has been registered towards the establishment of the new bank. We also take the opportunity to thank our members for their hard work, loyalty and unwavering commitment, without which we would not be where we are. Contact: Myan Soobramoney, National Secretary, Tel 011 467 0192, Cell 084 505 1904 -- -- You are subscribed. This footer can help you. Please POST your comments to [email protected] or reply to this message. You can visit the group WEB SITE at http://groups.google.com/group/yclsa-eom-forum for different delivery options, pages, files and membership. To UNSUBSCRIBE, please email [email protected] . You don't have to put anything in the "Subject:" field. You don't have to put anything in the message part. All you have to do is to send an e-mail to this address (repeat): [email protected] . --- You received this message because you are subscribed to the Google Groups "YCLSA Discussion Forum" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. For more options, visit https://groups.google.com/d/optout.
