The Zimbabwe Banks and Allied Workers Union (ZIBAWU) reports that 75% of jobs in the sector have been lost since the beginning of the millennium.

This decline is attributed to a combination of accelerated digitization and socio-political challenges facing the nation over the past two decades.

In discussions with NewZimbabwe.com about the outcomes of a high-level convention that brought together workers from the country’s banking sector, trade unionist Peter Mutasa expressed concern about the diminishing workforce.

Mutasa highlighted the decline in membership from a peak of 12,000 in the late 1990s to approximately 3,000 at present. He pointed out significant transformations in the banking sector, such as digitalization and automation, as the main culprits.

Mutasa criticized the restrictive nature of labour laws, further complicated by a toxic political environment in which the government views every union with suspicion, treating them as enemies of the state.