The Central Bank Union (CBU) was formed in 1980 and is affiliated to the Botswana Federation and Trade Unions (BFTU). Its membership is open to all non-managerial staff of the Bank of Botswana and is officially recognised as their representative by the Bank's management. There is a minimal joining fee and monthly subscription, which currently stands at one percent of a member's gross salary.
The primary objectives of the CBU (the core reasons for the Union's existence) include:
- regulate relations among bank staff, both between employees and employers or employers' organisations and between employees themselves, using mediation in order to settle differences by amicable and conciliatory means;
- organise all eligible members employed by the Bank of Botswana to bargain collectively on their behalf for better pay and working conditions, including security of employment;
- promote and develop the interest of its members in the industrial, cultural and educational and other activities undertaken by the Bank;
- provide necessary advice and assistance (including legal assistance) to its members; and
- assist the work of any other lawful association having amongst their objectives the promotion of the interest of labour and, in particular, with any other union with similar interests and objectives in a related sector or industry.
Pursuit of these objectives results in a range of practical support accruing to members of the Union, including:
- material and moral support during bereavements;
- short-term loans;
- provision of proper guidance to maintain good relations with other staff members and management.
Status and conduct of business
The operations of the CBU are governed by its constitution, a legal document that includes the right to sue and be sued. Recognition by the management is in the form of a binding agreement to its operations as lawful within certain agreed boundaries. The powers of the union and the conduct of its business in the period between annual general meetings are vested in the Executive Committee, under the overall leadership of the Union's President.
Membership and rights of members
The Union is open to all eligible workers over the age of 16, although no member under the age of 18 shall be a member of the Executive Committee or a trustee. Except as otherwise provided for, all members shall have equal rights in the Union and shall be bound by the constitution. These include the rights of all members to vote on all matters concerning the Union as laid down in the relevant legislation.
Bank of Botswana maintains the policy rate at 5 percent
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